Articles by tag: tax

The Impact of the Inflation Reduction Act on Transferrable Tax Credits

Moss adams

Aside from changes to renewable energy, the Inflation Reduction Act (IRA) has brought significant changes to the landscape of tax credits. With the introduction of transferable tax credits on the federal level, there’s a timely need to understand how these changes impact various stakeholders. This explores the nuances of these transferable credits and their…

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What the Changes to IRS’s Code Section 174 Means for Taxes This Year

For businesses, tax season can be especially stressful, given the weight of information to prepare and consider, along with various changes coming from the IRS. The Tax Cuts and Jobs Act of 2017 amended Code Section 174, whereby requiring companies to capitalize and amortize costs for their R&D expenses starting in the 2022 tax year….

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Business Services
Will New Income Reporting Have Any Meaningful Impact on the Financial Ecosystem?

If the IRS having more scrutiny over bank accounts makes you squirm, then buckle up. A proposed change to bank reporting standards would require banks to report $600 or more in transactions to the IRS, allegedly to help the Treasury catch wealthy individuals concealing income and committing tax fraud. Is this out of step with the…

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Business Services
How a New Tax Proposal Can Improve Tax Compliance Among Businesses

3 Key Points: Tax proposal could close up the use of LLC’s by foreign individuals who provide services abroad which is currently considered foreign income by the United States but often times not taxed in the foreign country. A change to the 1099-K to $600 could make an impact on how many LLC’s continue…

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Business Services
Deutsche Bank Proposes Work From Home Tax to Support Low-Income Workers

Deutsche Bank estimates the proportion of Americans who worked from home (WFH) during the pandemic surged to 56%, according to a report by USA Today. In response, the bank released a research note suggesting a WFH tax to provide stimulus and subsidies to the workforce that cannot work from home. Researcher Luke Templeman explains,…

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Business Casual
NYC Adds Dining Out Tax in an Effort to Help Restaurants

Small business restaurants have been particularly hard hit by COVID’s lockdown measures. In NYC, a COVID hotspot, restaurants have only recently reopened to limited capacity. As the weather cools and outdoor dining becomes more difficult, restaurants face continued revenue obstacles. According to Food & Wine, the city aims to combat this economic hardship by allowing…

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facing adversity head-on
Facing Adversity Head-On: Leadership Insights From Charmeachealle Moore
July 23, 2024

Welcome to “Through the Storm,” where resilience and facing adversity head-on takes center stage. If you were to look up the word in the dictionary, you might just find a picture of Charmeachealle Moore, known affectionately as Mike Moore. His life story reads like a testament to unwavering determination and perseverance. Mike is a…

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Breaking the Cycle and Inspiring Others
July 23, 2024

Nowadays, the traditional path to education is being questioned more than ever and there are numerous stories that provide a beacon of hope for those considering alternative routes. As the number of adults without a high school diploma reaches nearly 22 million in the United States, the importance of understanding and embracing non-traditional education…

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School Safety and Regulatory Compliance
Approaching Safety and Regulatory Compliance with Intent and Purpose
July 23, 2024

In this episode of School Safety Today by Raptor Technologies Michelle Dawn Mooney sat down with special guest, Carrie Mockler, the Vice President of Operations at PublicSchoolWORKS, a Raptor Technologies company. PublicSchoolWORKS is a fully automated, all-in-one learning management system for online training for school staff and a comprehensive risk management program. Key Takeaways: •…

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The Power of Self-Compassion in Leadership and Cognitive Diversity Can Transform Workplaces
July 23, 2024

Mental health and a sense of belonging are critical issues in today’s workplaces. So much that it is essential to practice self-compassion and form a better understanding of cognitive diversity. Leaders today must navigate the complexities of fostering connection and reducing isolation among their teams. Recent studies indicate that 40 percent of employees feel…

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