By Martin E. Prendergast, MBAGray, Gray & Gray, LLP The U.S. tax code offers various provisions designed to incentivize business growth and innovation. Among them, Section 174 plays a crucial role by allowing businesses – including many in the architecture, engineering, design, and construction industries – the option to deduct or amortize research and experimental […]
R&D Deduction Update Read More »
By Martin E. PrendergastGray, Gray & Gray, LLP Since the availability of immediate R&D expensing was eviscerated by the Tax Cuts and Jobs Act (TCJA) of 2017, business advocates and many members of Congress have been actively seeking to reverse the changes. The new rules requiring R&D spending to be amortized over five years (15
R&D Tax Treatments Still in Limbo Read More »
The movement to restore full expensing of R&D costs in the year the expenses are incurred, instead of amortizing them over 5 years, is gaining momentum in Congress. A bi-partisan bill had previously been filed in the U.S. Senate to return full expensing of R&D Costs (S. 866). That effort has now been joined by
R&D Tax Expense Restoration Moves Forward in Congress Read More »
Leveraging Section 179 for Optimal Savings in Construction Companies (January 2024) by Derrick Rebello and Brad Carlson How Architects & Engineers Can Benefit from Section 179D (May 2019) by Martin Prendergast
High Profile Magazine Features Read More »
By Martin E. Prendergast Gray, Gray & Gray, LLP While the recently enacted Inflation Reduction Act is making headlines for its energy and healthcare facets – along with a big ramp up in IRS muscle – there are several provisions that could benefit practitioners in the architectural and engineering fields. Here are some highlights of
Architects and Engineers Benefit from Inflation Reduction Act Read More »
By Bobby Garrett Director of IT & Cybersecurity Gray, Gray & Gray, LLP Architectural and engineering firms that have not yet implemented a Written Information Security Plan (WISP) for their business are taking a huge risk. Data breaches and security hacks occur every day, affecting firms of all sizes and types. In just one example,
Securing Private Data is No Longer an Option – Why You Need a WISP Read More »
By Richard Hirschen, CPA, CGMA Gray, Gray & Gray, LLP Architects, engineers and construction companies that work under federal contracts and received a Paycheck Protection Program (PPP) loan face a dilemma when performing their annual overhead rate calculation. If you received a PPP loan that was forgiven – or are considering applying for loan forgiveness
How Your PPP Loan Can Impact Overhead Rate Calculation… and What You Can Do About It Read More »
By Martin E. Prendergast, MBAGray, Gray & Gray, LLP As tough as the past year has been for many architectural, engineering and design firms, there have been a number of federal programs put in place to help retain employees and ease the burden imposed by the extended economic upheaval. While most people are familiar with
Balancing Tax Credits with COVID Stimulus Read More »
By Martin E. Prendergast, MBAGray, Gray & Gray, LLP Have you applied for PPP loan forgiveness yet? If not, you’d better hurry. Architectural, engineering and design firms that received a Paycheck Protection Program (PPP) loan during the “first draw” period in 2020, and who followed the SBA guidelines for using loan proceeds, can apply for
PPP Forgiveness Deadline Looming Read More »
Sapers & Wallack decided to arrange for a Town Hall Meeting for the Sapers & Wallack / Hilb Group family and friends to share and address these questions and we pulled together experts from our network who were kind enough to make themselves available to help you understand what is needed to obtain this second round of
Sapers & Wallack Town Hall: 2nd Round of PPP Funding Form Featuring Martin Prendergast Read More »