U.S. Tax Corner: Valuable R&D Payroll Tax Credit

  • U.S. Tax Corner: Valuable R&D Payroll Tax Credit
  • Residential Property Flipping
  • Investment Income Earned In A Corporation
  • Guilty Until Proven Innocent?
  • Charities and GST/HST
  • Around the Courts

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U.S. Tax Corner: Inflation Reduction Act becomes U.S. law

  • U.S. Tax Corner: Inflation Reduction Act becomes U.S. law: What are some of the tax changes?
  • Starting a Home Business
  • Do You Have a Large Bank Account In Another Country?
  • Make Money Volunteering for a Charity
  • Around the Courts

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U.S. Treasury Releases Corrections: Foreign Tax Credits

  • U.S. Treasury Releases Corrections: Foreign Tax Credits
  • Employee Stock Options
  • The Small Business Deduction
  • The General Anti-Avoidance Rule
  • Working On Commission? You Can Get More Deductions Than Other Employees

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U.S. Tax Corner: Steep interest rates hikes

July 2022 US Tax Update
  • U.S. Tax Corner: Steep interest rates hikes
  • Fuel Charge Credit for Farming Businesses
  • Air Quality Improvement Tax Credit
  • Taxation of Accounts Receivable
  • Unearned Receipts in your Business
  • Shareholder Loans

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Mandatory Capitalization of Research & Development Expenses

May 2022 Tax Update

Despite lobbying by many Fortune 100 companies and strong bi-partisan support to retain the deductibility of research and development (R&D) costs, 2022 brings an unexpected change for companies in the manufacturing, technology, SaaS, and life sciences industries. Those companies with significant R&D costs, including software development costs, will now be subject to mandatory capitalization, for U.S. tax purposes, as an intangible asset. This can have a significant impact on their 2022 financial statements and cash flows, as they will no longer be allowed to deduct those expenses in the year incurred.

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US Tax Corner

March 2022 Canadian Tax Update
  • US Tax Corner
  • Should you file if you can’t pay?
  • Convention Expenses
  • Computer Consultants
  • No Tax on Investment Income – Are you maxing out your TFSA?

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