Deadlines for Claiming the Employee Retention Credit (and It’s Not July 31, 2023)
The deadline for claiming the Employee Retention Credit (ERC) is getting closer. If you are an eligible business or nonprofit organization, you still have time to determine your eligibility and file your claim. That time, however, will run out soon with strict filing deadlines coming up in 2024 and 2025.
Overview of the New Renewable Energy Tax Credit under Section 48
The Inflation Reduction Act modified or introduced several energy efficient tax incentives, like the newly created Section 48(e) renewable energy investment tax credit. The base amount can be increased by several optional bonus credits.
Does Your Nonprofit Qualify for Retroactive Employee Retention Tax Credits?
Nonprofit organizations can still qualify for the employee retention tax credit from 2020 and 2021 if they meet certain eligibility rules.
Cyberthreats and the rise of SOC 2
According to the 2023 RSM US Middle Market Business Index Cybersecurity Special Report, companies today face more frequent and sophisticated cybersecurity threats than ever before.
GILTI: An Overview
US citizens and tax residents who have formed — or are considering forming — a corporation in a foreign country may be impacted by global intangible low-taxed income (GILTI). The tax implications and considerations are complex. Understanding GILTI is important for making informed decisions for yourself and your business structure.
Nonprofit Advertising and Sponsorship Rules
Nonprofits can run into issues when they accept advertising or sponsorship dollars if they don’t know the rules of unrelated business income tax. Knowing the difference between the two scenarios can help to minimize or manage tax liability.
