Newsletter

Improvements to the R&D Credit and Deductions Title I of the BIAA, entitled “Investment in America,” modifies the rules for deducting R&D expenses. This could allow more businesses to take advantage of the R&D credit. What is the R&D Credit? Section 41 of the IRC allows taxpayers to claim a credit equal to a portion […]

Formal, Transparent Processes for Bidding and Requesting Services Hiring a contractor for a job is rarely a simple process. It often begins with collecting bids from multiple contractors. Once a customer has selected a contractor, they must negotiate a contract for services. The actual job rarely goes exactly according to the contract, so change orders

Why Your Business Needs to Step Up Employee Security Awareness They relentlessly exploit vulnerabilities with one primary target in mind — employees. Cybercriminals perceive employees as the weakest link in an organization’s cybersecurity perimeter. However, you can address and shore up this vulnerability through proper training. Strengthening employee security awareness is paramount in safeguarding your

What Are Energy Credit Transfers? The IRA creates new opportunities for businesses, nonprofits and other entities to monetize energy tax credits. First, § 6417 of the Internal Revenue Code (IRC) creates a system that allows “applicable entities” to receive elective payments for energy tax credits. This includes: • Nonprofit organizations that are exempt from tax

Changes to Threshold Reporting Amounts The SBJA would amend several provisions of the Internal Revenue Code (IRC) to streamline reporting processes 1099-NEC Forms Under current law, businesses and others must report payments to independent contractors of $600 or more. They may do this using Forms 1096 and 1099, particularly Form 1099-NEC. According to Ways and

What Competitive Cyber Security Looks Like Competitive Cyber Security covers a great deal of topics around Information Technology (IT). This competition, contrary to popular belief, was not a “who can hack who faster” competition. This competition involved building a critical infrastructure that is secure and usable, conducting cyber forensics, and testing defenses of products and

While artificial intelligence (AI) has many benefits for businesses, it has also created new vulnerabilities that cybercriminals can exploit to carry out complex cyberattacks that are difficult to detect and mitigate. Using AI, hackers can create convincing phishing emails that bypass spam filters. Similarly, cybercriminals can leverage AI to manipulate security systems and gain unauthorized

Fraud can have troublesome effects on not-for-profit organizations (NFPs). For-profit businesses, generally speaking, exist for the primary purpose of making money. They may rely on the quality of their goods or services to protect their operations, even if they have been victims of fraud. NFPs, however, exist to further specific aims or causes. They rely

For the past few months, a crisis over the “debt ceiling” has dominated news coverage in the United States. Congress must periodically increase the amount that the federal government may borrow. Otherwise, the government risks defaulting on its obligations. The government reached the debt ceiling in January 2023, and the Department of the Treasury (DOT)

The Inflation Reduction Act (IRA) of 2022 provides billions of dollars in direct funding, tax credits and other incentives aimed at the manufacturing sector. The goal of much of the bill’s funding is to encourage investments in “green” technologies like renewable energy and low- to zeroemission vehicles. Some of the IRA’s provisions provide direct benefits