Entries by Steven Leone

PATH Act Changes Make Research Credit Creditable Against Other Taxes for Small Businesses

The 2015 year-end legislation that retroactively extended and made the popular research tax credit permanent was welcome by many business taxpayers. But the “Protecting Americans from Tax Hikes Act of 2015” (the 2015 PATH Act) also included additional unexpected taxpayer-friendly bonuses: beginning in 2016, eligible small businesses (i.e., those with $50 million or less in […]

Recent Tax Developments may Affect Your Tax Situation

The following is a summary of important tax developments that have occurred in the past three months that may affect you, your family, your investments, and your livelihood. Please call us for more information about any of these developments and what steps you should implement to take advantage of favorable developments and to minimize the […]

IRS Extends Deadlines for ACA Reporting – Forms 1094 and 1095

The Internal Revenue Service (IRS) released Notice 2016-4 on December 28, 2015, granting an automatic extension of the due dates for the distribution and filing deadlines for the 2015 Forms 1094 and 1095 for all those required to file under the Affordable Care Act (ACA). The extended due dates are: Forms 1095-B/1095-C that must be […]

Research & Development Tax Credit Made Permanent

On December 18, 2015, President Obama signed the Protecting Americans from Tax Hikes (“PATH”) Act of 2015, which includes a provision making permanent the Research & Development (“R&D”) tax credit under Section 41. This is a very significant development, as the R&D credit generally has required annual legislative renewal. A permanent R&D credit will provide […]

Federal Tax Day – IRS Issues Back to School Reminders

The IRS has issued back-to-school reminders for parents and students about education-related tax benefits, including the two college tax credits. In general, the American Opportunity Tax Credit or Lifetime Learning Credit are available to taxpayers who pay qualifying expenses for an eligible student. Eligible students include the taxpayer, spouse and dependents. The American Opportunity Tax […]

A Slice of the Fast Casual Pizza Revolution

By Kari Maue Fast casual pizza restaurants are emerging as a new hot concept and they’re making their way into the marketplace – almost as quickly as they can cook the pizzas. The fast casual pizza concept models offer a Chipotle-like concept by giving patrons personal size crusts, allowing them to pick their sauce and […]