Blog - Engineered Tax Services

Why an Architect’s “Passion Projects” Can Qualify for R&D Tax Credits

As we have covered in past posts, there are numerous activities conducted by architects and engineers that qualify for valuable federal and state research and development (R&D) tax credits. The credit, which is designed to reimburse companies that develop new products, processes or inventions, offers a significant percentage back to the company for qualified research

Engineered Tax Services September 30, 2020 No Comments

Tax Alert: IRS Issues Final Bonus Depreciation Rules

The IRS has released long-anticipated final bonus depreciation rules, which will implement the first-year 100% deduction that was included in the Tax Cuts and Jobs Act (TCJA). Please note that these final regulations change a few aspects of the proposed regulations that were issued in August 2018. Overview The final regulations will enable companies to

Engineered Tax Services September 23, 2020 No Comments

Decreasing Your Tax Burden With A Cost Segregation Study

There are two primary methods for expensing real estate costs: the traditional straight-line method and an engineering-based cost segregation method. Cost segregation, particularly now, renders a variety of benefits for real estate investors, such as accelerated depreciation schedules, reduced taxable income and increased operating cash flow. Read Full Article Here

Engineered Tax Services September 22, 2020 No Comments

Making the Case for a Specialty Tax Initiative at Your CPA Firm

Any time your CPA firm can differentiate itself by offering a specialty niche, you have the opportunity to stand out from your competition while providing extra value to your clients. Some firms have done so by offering R&D tax credit and cost segregation services, both of which can generate a fresh stream of revenue with

Heidi Henderson September 17, 2020 No Comments

Why Architects and Engineers are Ideal Candidates for R&D Tax Credits

Business owners in many types of industries, including architecture and engineering, may be eligible for federal and state research and development (R&D) tax credits and not realize it. Some mistakenly believe that these credits only apply to scientists and medical researchers working on the development or improvement of new products, software or pharmaceuticals. Or, they

Heidi Henderson September 14, 2020 No Comments

Demystifying the Application Process to Claim the 45L Energy-Efficient Home Tax Credit

Builders, developers and homeowners can gain considerable cost savings with the 45L Energy-Efficient Home Tax Credit. As long as they are a qualified contractor for a property that is three stories or lower, and they have incorporated energy-efficient features (i.e., high R-value insulation and roofing, HVAC systems and/or windows and doors) that reduce energy consumption

Heidi Henderson September 4, 2020 No Comments