Blog - Engineered Tax Services

Why the Machining Industry Should Sharpen Its Knowledge of R&D Tax Credits

If you’re a CPA firm with clients in the machining industry, I have a solution that could save your clients serious money, while proving your value-added worth to them. Research and development (R&D) tax credits are federal and state tax incentives designed to encourage innovation and technical design improvement; they reimburse companies that develop new

Dave Mitchell May 11, 2022 No Comments

How An ETS Cost Segregation Study Won a Client $105 Million in Tax Savings!

In its 20-year history of completing cost segregation studies, Engineered Tax Services has obtained some pretty impressive tax savings, but none stands out like the amazing $105 million in taxes we saved for a Major League Soccer stadium in Columbus, Ohio! Thanks to bonus depreciation, we can create large a first-year tax savings for our

Engineered Tax Services May 5, 2022 No Comments

A Message for Earth Day: How Energy Efficient Tax Credits Work to Save the Environment

Because Earth Day is Friday, April 22 this year, our concern for the environment is pretty much uppermost in our minds. We here at Engineered Tax Services have two energy efficient solutions that can help us reach a greener, more sustainable future: 45L tax credits and 179D tax deductions. What Are 45L Tax Credits? If

Engineered Tax Services April 21, 2022 No Comments

A Brief History of Tax Day—and the U.S. Income Tax

Usually, the IRS demands we file our federal income taxes on April 15, but this year, Tax Day is Monday, April 18. Why? Because the IRS’ District of Columbia offices will be closed on Friday, April 15, to observe Washington D.C.'s Emancipation Day holiday, which commemorates the 1862 act that abolished slavery in the city. This year, it technically

Engineered Tax Services April 15, 2022 No Comments

How CPA Firms Are Attracting New Talent

In this blog, we’ve discussed at length the challenges facing the accounting profession today, most notably the pandemic and the shortage of qualified accountants coming out of America’s colleges and universities. In the face of the Great Resignation, how are CPA firms fighting back? Countering the Great Resignation Businesses and accounting firms are now offering

Engineered Tax Services April 5, 2022 No Comments

How Has the Pandemic Changed the Accounting Profession?

Since the COVID-19 virus first appeared, the world as a whole has been swept up in a whirlwind of social, political, economic, and spiritual change. In over two years, the pandemic has upended our lives and altered the way we live and think. The Accounting Profession and the Pandemic Like everything else, the accounting profession

Engineered Tax Services March 25, 2022 No Comments