On Friday, December 19, President Barack Obama signed the “tax extenders” bill into law on a retroactive basis for 2014. This is great news for business owners and design professionals as these tax breaks can be substantial! The extender bill includes 45L, 179D, R&D tax credits, bonus depreciation and many others. If you have any new projects completed in 2014 now is the time to act! Engineered Tax Services will review your project on a complimentary basis.
The Ins and Outs of the ERTC
The Employee Retention Tax Credit (ERTC) is a tax credit offered by the federal government to assist businesses in retaining their employees during economic hardships. This credit was introduced in 2020 as a response to the COVID-19 pandemic and has been extended until the last quarter of 2021.