The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to eligible businesses. Claiming the credit involves complex calculations, which we can take care of for you. But in addition to the credit itself, be aware that the credit also has two features that are especially favorable to small businesses:
Under just about any circumstances, the word “leakage” has negative connotations. And so it follows that this indeed holds true for retirement planning as well.
If you made large gifts to your children, grandchildren or other heirs last year, it’s important to determine whether you’re required to file a 2021 gift tax return. And in some cases, even if it’s not required to file one, it may be beneficial to do so anyway.
If you’re married, you may wonder whether you should file joint or separate tax returns. The answer depends on your individual tax situation.
This past week, the IRS began mailing letters to recipients of the economic impact payment. If you received this letter, DO NOT THROW IT AWAY. Please retain it and provide it to us with your other tax documents. This document is necessary for calculating the recovery rebate credit on your 2021 tax return.
If you donated to charity last year, letters from the charities may have appeared in your mailbox recently acknowledging the donations. But what happens if you haven’t received such a letter — can you still claim a deduction for the gift on your 2021 income tax return? It depends.
This past week, the IRS began mailing letters to recipients of advance child tax credit payments. If you received this letter, DO NOT THROW IT AWAY. Please retain it and provide it to Andrews Hooper Pavlik with your other tax documents. This document is necessary for calculating the remaining child tax credit available on your 2021 tax return.
If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend the amounts reported on your tax returns in case you’re ever audited by the IRS.
Andrews Hooper Pavlik PLC (AHP) is pleased to announce the merger of McMahan, Thomson & Associates, P.C. (MTA) with AHP effective January 1, 2022.
McMahan, Thomson & Associates, P.C., is a certified public accounting firm in Midland, Michigan. The addition of the MTA partners and staff increases the AHP offices in nine cities throughout the state of Michigan to include over 170 team members.
The IRS began accepting 2021 individual tax returns on January 24. If you haven’t prepared yet for tax season, here are three quick tips to help speed processing and avoid hassles.
Terms & Conditions | © AHP – All Rights Reserved | Crafted by OhnoDesign.com
