It’s a topic that has been in the news lately. Exactly what constitutes taxable fringe benefits for employees?Which are perfectly legal perks, and which are to be avoided? First of all, what’s the definition of a fringe benefit? Sometimes referred to as an employee benefit or perk, it’s a form of payment, which includes property, services,
During these tough economic times, the AIA Leadership Academy and tax-intelligent planning for clients can give architectural firms a competitive edge. AIA partner Engineered Tax Services explains. In the wake of the pandemic, these are challenging times for architectural firms, particularly regarding the field of commercial real estate. But there are tools you can access
There’s been a disturbing change in precedent as practiced by the IRS: IRS audits of research and development (R&D) tax credit claims by service providers, such as architecture and engineering (AE) companies, have become inconsistent over the last couple of years. In fact, IRS audit actions appear to be reversing the long-standing precedent for the type of
In my first article on The Future of Accounting as reflected in The Rosenberg Survey—a comprehensive annual survey of the accounting profession that The Growth Partnership has authored—I examined emerging patterns we’ve seen regarding partner compensation systems. In this article, I’ll address the related issues of partner buy-in and buy-out and what recent trends we’ve observed. Partner Buy-In
Many architects are either unaware of the applicability of research and development (R&D) tax credits to their firms or struggle to understand how the credit applies if their projects or project activities qualify for R&D Tax Credits, why they qualify, and how much the credit might be. R&D Tax Credit Background The R&D tax credit
The Employee Retention Tax Credit (ERTC) was created to reward employers for retaining employees during the pandemic crisis, even when their businesses faced financial strain. This tax credit must be claimed before the June 30, 2021 filing deadline, and many taxpayers are realizing significant benefits. Engineered Tax Services and its cohort Rockerbox are experts in identifying and claiming federal