New Covid-19 Small Business Support: Shuttered Venue Operators Grant

The US Small Business Administration has established a new program to aid small business venues affected by covid-19.

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Does Your Business Qualify for Energy Tax Benefits?

Are you taking advantage of energy tax deductions for your investment in energy-efficient systems? If you are not benefitting from the 179 tax deduction, you could be losing out on thousands of dollars of tax savings. 

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R&D Tax Credits for Contractors: How to Maximize Value

Contractors can gain considerable benefits through federal and state research & development (R&D) tax credits. Knowing the specifics about eligibility, which party has rights and risks and how the credits are calculated can go a long way in maximizing your tax savings.

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45L and 179D Energy Efficiency Studies - Hire a firm with certified engineers

Unlike many firms, Tax Point Advisors conducts a site visit and onsite testing for every energy efficiency study, as required by the IRS, in order to document results, AND the site visits are done by our certified engineers.  Many firms send non-engineering staff to conduct cursory site visits, but this is a sub-standard approach.

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Does Your Business Qualify for Pennsylvania R&D Tax Credits?

Does your Pennsylvania business engage in research and development (R&D) activities? If so, you could qualify for significant tax savings through the Pennsylvania R&D tax credit program. 

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Valuable R&D Tax Credits for the Life Sciences/Biotech Industries

A growing trend for biotechnology and pharmaceutical companies is the move away from putting most investment resources behind one or two super drugs. Instead, they are diversifying behind a more comprehensive portfolio of products. Not surprisingly, there is a host of R&D activities that must take place to vet and launch each product, and many of these activities may qualify for the R&D tax credit.

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10 Misconceptions about R&D Tax Credits

Less than 33% of companies that qualify for the federal R&D tax credit actually utilize it, due to misconceptions about qualification and the complexity of necessary documentation. The following answers set the record straight.

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The Employee Retention Tax Credit Expanded and Extended for 2021 - NOW UP TO $33,000 PER EMPLOYEE

With many American businesses around the country struggling due to the COVID-19 pandemic, the U.S. government responded by passing multiple stimulus packages and tax credits throughout 2020 and now into 2021.  One essential tax credit businesses should be aware of is the Employee Retention Tax Credit (ERTC) which has now been extended through 2021 at a potential  value of up to $33,000 per employee.

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Will Filing for R&D Credits Increase My Audit Risk?

As a business owner, as long as you meet the IRS’ four-part test for eligibility, you may qualify for hundreds of thousands of dollars that you can use to further grow and invest in your business. Despite this lucrative opportunity, there is still one thing that holds some companies back—the fear of being audited. Understanding this concern, Tax Point Advisors provides the following answers to the question, “Will filing for R&D credits increase my chance of being audited?”

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Managing Cybersecurity Risks in Smart Manufacturing

The manufacturing industry has increasingly embraced data interconnectivity as a way of achieving greater efficiencies and meeting customers’ needs. Manufacturers of all sizes are integrating the Internet of Things (IoT) – the connection of devices to the internet and each other – and other “smart” manufacturing technology into their daily operations. Yet as they do so, they are also exposing their operations to greater security vulnerabilities.

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Latest from the blog

New Covid-19 Small Business Support: Shuttered Venue Operators Grant

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Does Your Business Qualify for Energy Tax Benefits?

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R&D Tax Credits for Contractors: How to Maximize Value

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