Rebecca Warren Archives - Walter Shuffain

The Joys of Home Ownership: Balancing Financial Support and Tax Consequences with Real Estate Wealth Transfer Strategies

For high-net-worth individuals, the art of wealth transfer extends beyond merely providing financial assistance to future generations; it is about strategically positioning the next generation for personal success. Unfortunately, it also requires navigating a complex landscape of income, gift, and…

The Role of Tax Planning in Sustainable Business Growth

Written by: William Cooper, CPA For many business owners, taxes often represent a hurdle to clear rather than a strategic asset to leverage. However, those who look beyond mere compliance can unlock the transformative power of tax planning as a…

Begin Your Tax Planning Journey Here

Effective tax planning is essential in today’s business and personal financial landscape. As we quickly approach year-end, there is no time to waste. Businesses, individuals, and family offices should assess their 2023 and 2024 tax situations to uncover opportunities for…

IRS Releases Substantive Guidance on the Treatment of Research and Experimental Expenditures Under Section 174

On September 8, 2023, the IRS released pre-regulatory guidance concerning the requirement to capitalize and amortize specified research and experimental (SRE) expenditures under Internal Revenue Code Section 174, as revised by the 2017 Tax Cuts and Jobs Act (TCJA). Notice…

Massachusetts Corporate and Individual Tax

Massachusetts Enacts Corporate and Individual Tax Changes

On October 4, 2023, Massachusetts Gov. Maura Healy signed H. 4104 to enact numerous business and individual tax changes. The more significant changes include adopting single-sales-factor apportionment for all corporate taxpayers, changing the sourcing of financial institution receipts from investment and trading,…

Easing The Pain of Research & Experimental (R&E) Expenditure Capitalization

The new Section 174 rules require taxpayers to capitalize and amortize R&E costs incurred in taxable years beginning on or after Jan. 1, 2022. Amortization is calculated using a straight‐line recovery period of either five years for costs incurred in…

Preparing for Healthcare’s Regulatory Environment Shift

Healthcare providers are approaching a major regulatory shift. On May 11, the Federal Public Health Emergency (PHE) for the COVID-19 pandemic will lapse, ending or sunsetting regulatory changes which greatly benefited providers during the pandemic. The end of the PHE,…

Costs and Benefits of the Inflation Reduction Act for Real Estate & Construction

The Inflation Reduction Act’s (IRA’s) expansion of key energy efficiency tax incentives – such as the 179D energy efficient commercial buildings deduction and the 45L new energy efficient home credit – is anticipated to have a significant impact on real estate and construction industry.…

Time to Make Your Business Year-End Tax Moves

With increasing costs due to inflation putting a strain on cash flow, lowering your tax liability is one way to help your business. While there are often many tax changes in any given year, 2022 has been slow in comparison. …

Do You Know How to Navigate the New IRS Requirements for R&D Tax Credit Claims?

Written by: Jonathan Yorks, CPA While the new research and development tax credit requirements went into effect on January 10, 2022, which require more detailed proof that claims are valid, many businesses seeking the refund may face extra work when…

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