Sean Yearout, Benjamin Dyches, DDS, JD, Alphonso Anderson, Esq., LL.M (Tax) Summary The R&D credit changed for 2022 tax filings by requiring the amortization of research expenses instead of treating them as an immediate deduction. Background Pre-2022 guidance (IRC Section 174i) allowed taxpayers to expense all research and experimental (R&E) expenditures immediately. Additional benefits were Read More
Nicholas Misenti, JD, CPA Many people are unaware of the federal estate tax or think it doesn’t apply to them. The typical estate plan that results is no plan at all or Wills that leave everything to the surviving spouse and then from the to the surviving spouse to the children. That can be a Read More
Alphonso Anderson, JD, LL.M Tax The TaxRx Group is a specialty tax consulting firm. We work with local accounting teams to identify advanced options that reduce our clients’ taxes. We produce a yearly tax prescription (Tax Rx) to maximize available benefits and savings. This week’s Tax Tip is an introduction to the Employee Retention Credit Read More
Benjamin T. Dyches, DDS, JD The TaxRx Group is a specialty tax consulting firm. We work with local accounting teams to identify advanced options that reduce our clients’ taxes. We produce a yearly tax prescription (Tax Rx) to maximize available benefits and savings. This week’s Tax Tip is an introduction to Cost Segregation. When done Read More
Recently, a webinar commentator posed the question about the R&D tax credit and whether healthcare professionals engage in research in their daily practices. The question was based on the commentator’s interpretation of experimentation as the discovery of something new. As with all things legal and tax-related, language is everything. So how does the language of Read More
It is not uncommon for clients to ask the big questions: What are the odds of an audit in the R&D tax credit application? How can audit risk be reduced? Does an amended return increase audit risk? Will the IRS look a little harder this year? It is true that claiming the R&D Tax Credit Read More
We work with some excellent CPAs. In fact, one of the first things we do is reach out to your CPA to resolve any questions early on and strategize to see whether the R&D tax credit is a good fit for you. We recently received a question from one of these great CPAs as to Read More
Physicians, dentists, and other healthcare businesses are typically in the daily process of innovation, even if we haven’t been trained to designate our processes that way. The very name of our business methodology – a healthcare practice – indicates that there is a component of development inherent to the delivery of healthcare services. Let’s break Read More
The standard of care in medical malpractice law varies by the locality from which different states draw their customary care practices. The customary care standard was historically limited to physicians practicing in close proximity to each other. Currently, only six states maintain a version of the “locality rule,” in which a physician is judged by Read More