Tax Credit Archives - John R. Dundon II, Enrolled Agent

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Tax Credit

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08 Jun Do Solar Panels Save You Money and Help Advance the Planets Well Being? 1 Useful Example.

Do Solar Panels Save You Money and Help Advance the Planets Well Being? 1 Useful Example....

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14 Dec Inflation Reduction Act Tax Briefing – Tax Credits & Excise Taxes.

Posted at 12:29h in Inflation Reduction Act, Tax Credit

Inflation Reduction Act Tax Briefing - Tax Credits & Excise Taxes - at a very high level provides opportunities for investment in clean energy via the reduction of carbon emissions by, among other things, expanding tax benefits for renewable energy, including the Internal Revenue Code...

27 Dec R&D Tax Credits – IRS Forms 8974, 6765, 3800 & the TCJA

Posted at 00:00h in R&D, Research Tax Credit, Tax Credit, Tax Reform, TCJA

Hold On! Resist the urge to gloss over the title so fast! Do whatever it takes to clear your head and FOCUS for 6,000 words or so on R&D Tax Credits - IRS Forms 8974, 6765, 3800 & the TCJA. Understanding the tax reporting and compliance...

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27 Jun Foreign Tax Credit (FTC) A Drill Down into IRS Form 1116

Posted at 00:00h in Foreign Tax Credit, Alien, Foreign Income, Foreign Investment, FTC, International Tax, Tax Credit, Tax Guidance & Preparation

Foreign Tax Credit (FTC) A Drill Down into IRS Form 1116.Â With all the political rhetoric about borders and boundaries circulating these days by 'news media' outletsÂ the fact of the matter is US Taxpayers are increasingly working and living abroad everyday. With that taxpayers and tax...

19 Feb Research Tax Credits, Qualified Research Expenses (QRE) & IRS Form 6765, Credit for Increasing Research Activities

Posted at 00:00h in Research Tax Credit, Tax Credit

Being married to aÂ fermentation biologist has allowed me access to a wide swath of fascinating experiments involving media from bio-fuels to home brew. So no matter how many esoteric Internal Revenue Codes I vamp up in public or in social gatherings-like an idiot savant, I...

07 Jan Protecting Americans from Tax Hikes (PATH) Act of 2015 – A Summary

Posted at 00:00h in DIY, Enrolled Agent, IRS Collections, IRS Criminal Enforcement, IRS Enforcement, IRS Examination, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, ITIN, Licensed Tax Professional, PATH Act 2015, Paying Taxes, Penalty, Tax Abuse, Tax Court, Tax Credit, Tax Fraud, Tax Guidance & Preparation, Tax planning, Tax Preparer, Tax Problems & Requests

Protecting Americans from Tax Hikes Act of 2015Â (PATH) summarized by my friend Shirley Callahan EA. Some highlights include: Everyone will appreciate the permanency of the enhanced Educator Expenses, the Sales Tax deduction, and the R&D Credit. Section 179 is made permanent at $500,000 phasing out at...

18 May Defining Small Employer with Regards to Offering Health Insurance

Posted at 00:00h in Affordable Care Act, Business Expense, Corporation, Employee Business Expense, ObamaCare, SHOP, Small Business, Sub-chapter S, Tax Credit, Tax Deductible Expenses

Many business owners of all sizesÂ have been posting to this blog lately with concernsÂ about offering minimum essential health insurance coverage for their employees. It is indeed a complex topic full of both pitfalls and opportunities.Â When you drill down into the nuances of what it really...

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15 Aug What is an FTE? What is a Seasonal Employee?

Posted at 00:00h in Affordable Care Act, Business Expense, Employee Business Expense, FTE, Medical Expenses, Medicare, Small Business, Sub-chapter S, Tax Credit, Tax Deductible Expenses, Tax Guidance & Preparation

What is an FTE? What is a Seasonal Employee?...

08 Feb What is a ‘Qualifying Relative’ for US Tax Purposes: IRC 152

Posted at 00:00h in Adoption, Child Tax, Children, Earned Income Tax Credit, IRS Enforcement, Tax Credit, Tax Deductible Expenses, Tax Filing Status, Tax Guidance & Preparation, Tax Problems & Requests

Wading through the convolution required to identify specifically who qualifies as a relative for income tax reporting purposes oftentimes can be difficult, not because the actual tax code is difficult to understand in these regards or even subject to much interpretation. Â No, it is difficult...

17 Jan American Taxpayer Relief Act 2012

Posted at 00:00h in Adoption, Alternative Minimum Tax (AMT), Cancelled Debt, Capital Gain, Charitable Contribution, Child Tax, Employment Tax, Estate Tax, Excise Tax, Generation Ski[[ing Transfer Tax, Social Security Tax, Tax Credit, Tax Guidance & Preparation, Tax Relief

The American Taxpayer Relief Act of 2012 makes permanent many otherwise expiring tax provisions. The following is my summary of what I believe to be relevant provisions: Ordinary income above a certain threshold is taxed at a higher rate. The thresholds are: taxable income of $400,000...