The FASB has voted to propose a deferral of the effective dates for several of its recent standards that would provide at least an additional year to companies that have not yet adopted the standards.
Thanks to the Nevada Legislature, companies with less than $4 million of Nevada gross revenue have less to do this summer. In the past, all companies conducting business in Nevada were required to file Commerce Tax returns regardless of revenue.
As part of the Tax Cuts and Jobs Act, for tax years beginning on or after January 1, 2018, the amount of business interest that is deductible for federal income tax purposes may be limited.
The Research & Experimentation tax credit, also referred to as the “R&E”, “R&D” or “Research” tax credit incentivizes companies to invest in people and technology that can lead to growth in revenues and profitability, as well as to promote job retention and expansion. The credit focuses on three types of expenditures: qualified wages, supply costs and contract research.