New Sec 174 rule guts R&D tax credit

Charles R. Kennedy, CPA, MBA Vice President & Director of Tax Services Companies that have taken advantage of the research & development tax credit to lower taxes and recoup costs related to R&D activities will be subject to a major change this year that...

Claiming a retroactive ERC tax credit is not as simple as it may sound

Ryan J. McDonell, CPA Tax Manager Companies that have not applied for the pandemic-related Employee Retention Tax Credit (ERC) since it was introduced in 2020 still have time to take advantage of this tax benefit. The statute of limitations for filing amended payroll...

New tax strategies necessary as 100% bonus depreciation expires

Derek M. Paddock, CPA, MSA Tax Manager The Tax Cuts and Jobs Act (TCJA) of 2017 ushered in numerous tax incentives that were embraced by the business community. But it also contained expiration dates for many of those incentives, and those expirations are starting to...

A fraud recovery plan is essential if your nonprofit is victimized

Sean McNeil, CPA Accounting & Auditing Manager No one wants to think of a nonprofit organization being defrauded. But it happens, and your nonprofit board should create a fraud recovery plan now in case your organization is victimized. Nonprofit organizations make...

Ryan J. McDonell joins GT Reilly & Company as Tax Manager

MILTON, MA – Ryan J. McDonell, CPA has joined GT Reilly & Company as Tax Manager. A tax professional with more than a decade of experience, McDonell has worked previously at national and regional accounting firms. McDonell provides tax consulting, preparation and...