In the final days of 2022, businesses had hoped changes would be made to Section 174 rules requiring capitalization and amortization of research and experimental expenses, also commonly referred to as R&D expenses. Yet, the final bills passed by ...

Last October, the Internal Revenue Service (IRS) Office of Chief Counsel issued a memorandum for taxpayers wishing to apply for the research and development (R&D) tax credit refund claim. The guidance outlines the information the IRS requests for...

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 Doeren Mayhew’...

In less than a year, changes to the tax treatment of Research and Experimentation (R&E) expenses will be put into effect as a deferred provision of the Tax Cuts and Jobs Act (TCJA). Since the enactment, there has not been additional guidance from...

Q. What impact, if any, will the SECURE Act, have on my tax planning for retirement? There are three main provisions of the SECURE Act that will most likely impact high-net-worth individuals: You will be able to contribute to your traditional Individ...

An array of tax-related limits that affect businesses are annually indexed for inflation, and many have increased for 2020. Here are some that may be important to you and your business. Social Security Tax The amount of employees’ earnings that are...

A new year is here, bringing new opportunities and tax strategies business owners should be aware of as a new filing season is approached. Doeren Mayhew’s tax advisors highlight five key tax planning strategies to consider in 2020: 1. Economic Nexu...

The Internal Revenue Service (IRS) has released guidance providing that the requirement to report partners’ shares of partnership capital on the tax basis method will not be effective for 2019 partnership tax years, but will first apply to 2020 par...