Marginal vs. Effective Tax Rates

Marginal vs. Effective Tax Rates Understanding marginal and effective tax rates are important for tax planning purposes; however, many taxpayers don’t fully understand the differences. Let’s take a closer look: Marginal Tax Rate The United States has a progressive tax system. The more money you earn, the higher your tax rate is and the more…

Gross Receipts Safe Harbor for Employers Claiming ERC

Gross Receipts Safe Harbor for Employers Claiming ERC Safe harbor is now available that allows employers to exclude certain items from their gross receipts solely for determining eligibility for the Employee Retention Credit (ERC). These amounts are: The amount of the forgiveness of a Paycheck Protection Program (PPP) Loan; Shuttered Venue Operators Grants under the…

Employee Retention Credits

Employee Retention Credits Last year, the CARES Act introduced an Employee Retention Credit (ERC) to provide reimbursement of wages for businesses affected by the COVID-19 virus and incentivize employers to maintain a pre-pandemic level workforce. Although it was expanded and scheduled to expire at the end of the second quarter of 2021, it is ARPA…

R&D Credits

R&D Credits Is your organization working to improve existing products, processes, or software? Or are you developing new ones? The research and development (R&D) tax credit has the potential to benefit your organization by providing valuable tax savings. The Research and Development (R&D) Tax Credit remains one of the best opportunities for businesses to substantially reduce their…

How Secure is Your Client Data?

How Secure is Your Client Data? As the digital world continues to expand, we must protect all of the information and valuables associated. Having faulty cybersecurity leaves a window of opportunity for cyber theft and data corruption. We have a team of certified specialists to identify weaknesses and implement the proper tools to prevent an…