Tag: Tax Credit

Using Tags in QuickBooks Online

Classes and categories have their place in QuickBooks Online transactions. Tags add another way to track your financial data.QuickBooks Online is a great tool for creating, storing, and sending sales and purchase forms, and for building detailed customer and vendor profiles. Maybe that’s all you want it to do. But to get the most out […]

Read Full Article

Work Opportunity Tax Credit Info

At its most straightforward, the Work Opportunity Tax Credit is available at the federal level to businesses that go out of their way to hire people from a targeted group that has historically had difficulty finding gainful employment.The theory is to encourage business owners of all types to create economic opportunities whenever possible. The Work […]

Read Full Article

R&D Credit Potentially Doubled by Inflation Reduction Act of 2022

Article Highlights:Inflation Reduction ActResearch Credit Payroll Tax OptionResearch CreditQualified ResearchQualified Small BusinessThe Inflation Reduction Act that President Biden signed into law back in August of 2022, has a lesser-known provision that could benefit many small business startups, allowing them to potentially double the amount of the research and development tax credit they can claim from […]

Read Full Article

Employers Hiring New Employees May Be Able to Claim a Work Opportunity Tax Credit

Article Highlights:Potential CreditEligible EmployeesCredit DeterminationCertification ProcessOther IssuesThe Covid-19 pandemic has had a significant impact on the labor market – mandated government lockdowns and workers’ and customers’ fears of contracting the illness resulted in businesses closing or temporarily cutting back and laying off or furloughing millions of employees. In April 2020, the unemployment rate reached 14.8%, […]

Read Full Article