R&E Tax Credits for Investing in Your New ERP System

Research to develop computer software for internal use (internal use software) is excluded from the definition of qualified research for purposes of the Research and Experimentation Tax Credit (R&E). The IRS issued proposed regulations on January 16, 2015 on various aspects of internal use software. Whether software is not developed

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New 2014 Tax Filing Requirement – Form 3115

On January 16, 2015, the Internal Revenue Service filed Revenue Procedures 2015-13 and 2015-14.  These were released to give guidance on how taxpayers can apply for advance consent from the service for automatic and non-automatic changes in their methods of accounting. For 2014 tax filings, this has been a topic

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Medical Device Tax Repeal Gains Support

By Kristen Howard, CPA The medical device tax could be repealed by the end of March 2015. The medical device tax was designed as a way to pay for “Obamacare”. A new bill was introduced by Rep. Erik Paulsen (R-Minn.) that would eliminate the 2.3% tax and refund companies for

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Additional Kentucky Business Incentives

Many Kentucky business owners are delightfully surprised to learn about the generous incentives offered to business. These incentives and tax credits are available for typical day to day activities, such as hiring new staff and technology upgrades and improvements to less common business activities, like large-scale recycling endeavors. To help

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A Billion Reasons to Care about State Tax Apportionment

The Michigan Supreme Court’s July 2014 decision in International Business Machines Corp. v. Department of Treasury (IBM) that taxpayers could validly make an election to apportion business income under the MBT (2008-2011) using the Multistate Tax Compact’s (the Compact) 3-factor apportionment formula started an avalanche of Michigan MBT refund requests.

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