Annualize Gross Receipts Businesses that operate for less than 12 months in a tax year — due to incorporation, merger, dissolution, or change in accounting period — must annualize...
Introduction When calculating the R&D Tax Credit under IRC §41, determining Gross Receipts correctly is critical. Gross receipts form the foundation of both the Fixed-Base Percentage (FBP) and the...
Introduction The ASC Method under IRC §41(c)(5) provides a simplified way for businesses to calculate the R&D Tax Credit without relying on historical data from the 1980s. It’s ideal...
Tax scams have surged in recent years, especially with growing digital filing and phishing tactics. Fraudsters often impersonate the IRS or tax professionals to steal your money, identity, or...
The Hidden Tax Risk No One Warns You About Many Indian-Americans working in the U.S. hold bank accounts, fixed deposits, mutual funds, or properties in India but fail to...
IRS Tax Extension Filing on time isn’t always possible. Fortunately, the IRS grants an automatic six-month extension for most returns from individual (Form 4868) to corporate (Form 7004). But...
(Tax Year 2024 – Filed in 2025) Overview Yes, you can file your taxes without a W-2 but only under specific conditions. If your employer failed to provide Form...
(Tax Year 2024 – To Be Filed in 2025) Overview The IRS requires businesses to report income paid to workers using different forms based on the nature of the...
Introduction Retirement may be the finish line for your career, but it’s also the starting line for a new phase of tax planning. The years leading up to retirement...