Category: Business Taxes

Companies that engage in research and development (R&D) activities are facing major changes in the deductibility of these expenses. Historically, the costs incurred for R&D activities was immediately deductible. Beginning January 1, 2022, costs incurred for R&D activities will have to be capitalized and amortized over 5 years for research activities performed in the U.S. and 15 years for those performed outside the U.S.

Whether you are currently constructing a building, have recently purchased one, or even purchased a building years ago, a Cost Segregation Study can reduce your tax liability and give your cashflow an immediate boost.

Although some businesses put tax planning on the back burner, a proactive approach can result in huge savings. In this post, we discuss how tax service firms like Dugan & Lopatka can make a big impact for mid-sized businesses.