Tax Warrior Chronicles

By: Patrick Richardson

The Consolidated Appropriations Act of 2021 created new, but temporary, deduction limits for meal expenses for the 2021 and 2022 tax years. Meals are treated as costs of furthering business development, which, of course, changes the economics of the expense. Let’s take a closer look…

By: Michael Donahue, CPA, MT, CFP

As we close the books for the 2021 year, there is no need to close the door on tax planning strategies for that year. The Federal Research and Development (R&D) Credit is available to reduce your tax liability for the years 2018 to 2021. New IRS guidance, and a few more requirements in some cases, may provide tax credit for your enterprise’s research and development activities.

By: Lauren O'Byrne, CPA

As average life expectancies rise, and more and more American couples both work outside of the home,  the costs related to the care for elderly parents is a significant factor in the family budget.  The Internal Revenue Code provides some tax relief…at least it does for now. Here are some benefits to consider.

By: Sean P. Kelly and Chris Catarino, CPA

If you are renovating an older property or looking for a tax-efficient real estate development project, the Rehabilitation Tax Credit may be a lucrative opportunity. Qualifying rehabilitation projects receive a credit for 20% of rehabilitation costs for certified historical structures or 10% of rehabilitation costs for buildings placed in service before 1936.This dollar-for-dollar tax credit can reduce out-of-pocket renovation costs and significantly improve return on investment. Questions abound, and The Tax Warriors^® have the answers.

By: Stephanie Otake, CPA

Making extra cash with Uber or Lyft has become a popular pastime, but make sure you consider the tax implications that come with it.  In this blog post, we’ll pose and answer common questions of those taking part in the so-called “sharing economy.”