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Tax & Business

Tax Credits & Incentives - Federal

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Education Credits

American Opportunity Tax Credit:
The American Opportunity Tax Credit is a credit for expenses related to tuition paid for the first four years of higher education for an eligible student. The maximum annual credit is $2,500 per eligible student.

To be eligible for the AOTC, the student must:

  • Be pursuing a degree.
  • Be enrolled as at least a half time student for at least one academic period (semester, trimester, etc.) beginning in the tax year.
  • Not have finished the first four years before the beginning of the tax year.
  • Not already have claimed the AOTC for more than four tax years.
  • Not have a felony drug conviction before the end of the tax year.

Lifetime Learning Credit:
The Lifetime Learning Credit is for qualified expenses related to education for eligible students in undergraduate, graduate, and professional degree courses. There is no limit on the number of years the tax credit can be claimed, and up to $2,000 per year can be claimed.
To claim an LLC, taxpayers must:

  • Pay qualified education expenses for higher education.
  • Pay the education expenses for an eligible student.
  • Be paying for either yourself, your spouse, or a dependent who is listed on your tax return.

Child and Dependent Care Credit:

The Child and Dependent Care Credit is a credit for the expenses incurred for care for a qualifying individual, to allow you to either work or look for work. The maximum amount that can be claimed is $3,000 for the care of one individual and $6,000 for two or more individuals. The amount of the credit is between 20% and 35% of allowable expenses, depending on your adjusted gross income.

Qualifying individuals include:

  • A dependent qualifying child who is under the age of 13 at the time of care.
  • A spouse who is physically or mentally incapable of self-care.
  • An individual who is physically or mentally incapable of self-care and has lived with you  for more than half of the year.

Earned Income Tax Credit:

The Earned Income Tax Credit is a benefit for working people with low income. The EITC reduces the amount of tax you owe or gives you a refund, and to qualify, you must file a tax return .
To qualify for the ETCI,  you must:

  • Have tax year investment income of no more than $3,400.
  • Not file Form 2555.
  • Have a total income of $1.
  • Have earned income and adjusted gross income of no more than $53,267. This amount could be less depending on the number of children claimed as dependents and the filing status of the taxpayer.

Mortgage Interest Credit:

The Mortgage Interest Credit was created to help lower-income individuals afford home ownership. If you were issued a Mortgage Credit Certificate by a state or local government for low-income housing, you may be able to receive the credit. However, if you sell your home after you have taken this credit, you could be forced to repay all or part of the credit. You must use form 8396 to figure out the amount of credit available and to acquire the credit.

Residential Energy Efficient Property Credit:

The Residential Energy Efficient Property Credit is a credit for homeowners who use an alternative energy system which benefits the environment. Homeowners can take this credit of up to 30% of the cost of the alternative energy equipment installed in or on your home.
Qualified equipment for the credit includes:

  • Qualified solar electric systems.
  • Qualified solar water heats.
  • Qualified fuel cell property.
  • Qualified small wind energy property.
  • Qualified geothermal heat pumps.

There is no dollar limit on this credit for the equipment, except for qualified fuel cell property, which has a $500 limit for each one-half kilowatt of capacity of the property. Additionally, the property must be in the United States.

Nonbusiness Energy Property Credit:

The Nonbusiness Energy Property Credit is a credit of 10 % of the cost of qualified energy-efficient improvements. These improvements include adding or improving insulation, energy efficient windows and doors, and certain types of roofs. A credit is also available for the costs of installation or improvement for certain high-efficiency heating and air-conditioning systems, high-efficiency water heaters, and stoves the burn biomass fuel.

However, there is a $500 lifetime limit for this credit, only $200 of which may be used on windows. Additionally, the improvements must have been placed in service in the United States prior to December 31, 2016.

Low-Income Housing Credit:

The Low-Income Housing Credit is a credit for owners of residential low-income rental buildings that satisfy specified conditions. For an owner to claim the credit, the housing credit agency (any state or local agency authorized to make low-income housing allocations) must make an allocation of the credit by the close of the calendar year in which the building is placed in service. To acquire the credit, the owner and agency must complete a separate Form 8609 for each qualifying building.

For the building to qualify as a low-income housing building, it must meet the minimum set of requirements and be able to pass either:

  • The 20-50 test, in which 20% or more of the residential units must be occupied by individuals whose incomes are 50% or less of the area median income, and those units must be rent–restricted; or
  • The 40-60 test, in which 40% or more the residential units must be occupied by individuals whose incomes are 60% or less of the area median income, and those units must be rent-restricted.

New Markets Tax Credit:

The New Markets Tax Credit is a credit for those who invest in the development of a qualified low-income community. The credit is the applicable percentage of the amount paid to the qualified community development entity.

The applicable percentage of allowable credit is in respect to the original investment. The investor gets a credit of five percent on the date of the original investment, and then five percent on the following two anniversary dates of original investment. The investor then receives a tax credit of six percent of the original investment on the anniversary dates of the following four years. This adds up to a total credit of 39% of investment at its issue over the seven years for which the credit can be claimed.

To qualify as a low-income community, the population tract must:

  • Have a poverty rate that is at least 20 percent.
  • Have a median family income that is not greater than 80 percent of the statewide median family income, if it is not located within a metropolitan area.
  • Have a median family income that is not greater than 80 percent of the statewide median family income or the metropolitan area median family income. if it is located within a metropolitan area.

American Samoa Economic Development Credit:

The American Samoa Economic Development Credit is a credit for domestic corporations that invest in the American Samoa. To qualify for the credit, the corporation must meet the qualified production activities income (QPAI) requirement, which is defined as requiring the QPAI to be positive. The credit comes from any gross income that is received through business activities in the American Samoa. However, amounts received in the American Samoa may not be included if they are from sources outside of the American Samoa.

Orphan Drug Credit:

The Orphan Drug Credit is a credit for a taxpayer that incurs qualified clinical testing expenses for drugs for rare diseases. The credit can be claimed for 50% of those expenses for the tax year.

Clinical testing refers to human clinical testing which is carried out under an exemption for a drug being tested for a rare condition or disease. Additionally, the expenses that qualify for the credit only apply to the extent to which the drug is tested to treat the disease or condition for which it is designated.

For this credit, a rare disease or condition is defined as affecting fewer than 200,000 people in the United States. However, if the disease or condition affects more than 200,000 people but there is no reasonable expectation that the costs of developing the drug in the United States will lead to recovery of those costs from sales, it can still qualify for the Orphan Drug Credit.

Disabled Access Credit:

The Disabled Access Credit is a credit for small businesses that provide access to people with disabilities in compliance with the American Disabilities Act of 1990. The credit can be claimed for the amount equal to 50% of the costs of providing the access, up to $5,000. For this credit, the term "eligible small business" refers to any person or business whose gross receipts do not exceed $1 million or does not employ more than 30 full-time employees.

Costs incurred for the following expenditures are eligible for the credit:

  • Removing architectural, communication, physical, or transportation barriers for the purpose of making a business accessible to individuals with disabilities.
  • Providing qualified interpreters or other methods to make orally delivered materials available to individuals with hearing impairments.
  • Providing qualified readers or other methods for the purpose of making visually delivered materials available to persons with visual impairments.
  • Acquiring or modifying equipment for individuals with disabilities.

Adoption Credit:

The Adoption Credit provides a $13,400 credit per child under the age of 18 or physically or mentally incapable of self-care, who is adopted. Phaseouts apply if Modified Adjusted Gross Income (MAGI) falls between $201,010 and $241,010 and completely phases out if income exceeds $241,010.

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Saver's Credit:

The Saver's Credit provides a credit to low/moderate income workers to encourage saving for retirement. To be considered a low or moderate income worker, AGI cannot exceed $30,500 for individuals; $45,750 for head of household; or $61,000 for married filing jointly. The credit helps the first $2,000 for married couples and the first $1,000 for single individuals. Contributions must be made to IRAs, 401(k) plans, or other similar workplace plans. The taxpayer has until April 15 to make a contribution or to start a retirement plan. The taxpayer must be at least 18 years old, was not a full-time student in the previous tax year, and may not be claimed as a dependent on another person's tax return. 

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Child Tax Credit:

The child tax credit allows a maximum credit of $1,000 per qualifying child.

A qualifying child encompasses the following:

  • Your son, daughter, stepchild, foster child, brother, sister, stepbrother, stepsister, half-brother, half-sister, or descendant of any of them.
  • Under the age of 17.
  • Did not provide over half of his/her own support.
  • Lived with you for more than half of the year.
  • Is claimed as a dependent on your return.
  • Does not file a joint return for the year.
  • Was a U.S. citizen, U.S national or U.S. resident alien.

The credit is phased out if adjusted gross income (AGI) is more than $110,000 if married filing jointly; $75,000 if single, head of household, or qualifying widow; or $55,000 if married filing separately.

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The Work Opportunity Credit:

This credit is to encourage employers to hire employees within certain minority groups that exhibit higher than average unemployment rates. This program is intended help targeted employees earn a steady income and become independent contributing taxpayers. Employers will also benefit by being able to reduce their federal income tax liability.  A list of the targeted groups may be found at: www.doleta.gov/business/incentives/opptax/eligible.cfm.

The Work Opportunity tax credit is equal to 40% of qualified first-year wages. The credit will be reduced to 25% if fewer than 400 hours, but at least 120 hours, were worked. The credit will be denied if fewer than 120 hours are worked. Qualified wages are wages paid to individuals who are members of a targeted group or incurred by the employer during the taxable year.
Targeted group members include:

  • A qualified IV-A recipient.
  • A qualified veteran.
  • A qualified ex-felon.
  • A designated community resident.
  • A vocational rehabilitation referral.
  • A qualified summer youth employee.
  • A qualified supplemental nutrition assistance program benefits recipient.
  • A qualified SSI recipient.
  • A long-term family assistance recipient.
  • A qualified long-term unemployment recipient.

The amount of the tax credit is based on a percentage of qualified wages paid to the new employee during the first year of employment. The target group the new employee falls into determines the percentage and cap on qualifying wages. Higher cutoffs are set in place for qualified veterans. The employer and the job-seeker must sign Form 8850, indicating that the job- seeker is a member of a target group. The employer must then forward the form to the Department of Career Services no later than the 28th day after the job-seeker begins work.

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Indian Employment Credit:

This is a credit for hiring registered Native American Indians who live on or near an Indian reservation and work for an employer on that reservation. The credit amount is equal to 20% of the excess of the sum of the qualified wages paid or incurred during the taxable year and the qualified employee health insurance cost paid/incurred during the taxable year. To qualify, wages and qualified health insurance costs should not exceed $20,000. If any employee is terminated day 1 of the following year or earlier, no credit will be granted.

Credit for Small Employer Pension Startup Plan:

This is a credit for employers who start simplified employee pension plans (SEP), savings incentive match plan for employees plans (SIMPLE), or Qualified plans. Qualified plans consist of H.R. 10 plans, Keogh plans and 401 (k) plans. The credit is equal to 50% of the cost to set up, administer, and educate employees up to $500 per year for the first three years. You must have 100 or fewer employees who received at least $5,000 in compensation the previous year.

Maximum Contributions:

  • SEP – The lesser of $53,000 or 25 % of participant's compensation.
  • SIMPLE IRA and SIMPLE 401 (k) – Dollar-for-dollar matching up to 3% of employee's compensation or 2% of compensation for fixed nonselective contributions.
  • Defined Contribution Plan – Smaller of $53,000 or 100% of participant's contribution.
  • Defined Benefit Plan – The smaller of $210,000 or 100% of participant's average compensation for 3 years.

*These amounts are limited to a maximum of $265,000.

Maximum Deduction:

  • SEP – 25% of all participants' compensation.*
  • SIMPLE IRA and SIMOLE 401 (k) – Same as maximum contribution.
  • Defined Contribution Plan – 25% of all participants' compensation plus the amount of elective deferrals made.*
  • Defined Benefit Plan – Based on actuarial assumptions.

*Limited to $265,000.
https://www.irs.gov/publications/p560/ar01.html
https://www.irs.gov/pub/irs-pdf/p560.pdf

Distilled Spirits Credit

This is another small business credit. The credit is based on a calculation using the total number of cases of distilled spirits purchased and the average tax-financing cost per case. The credit will vary depending on the proof of the alcohol. The calculation can be seen on Form 8906.

Credit for Producing Fuel from a Nonconventional Source

This credit is equal to $3 times the number of barrels sold or produced during the taxable year. If sales occur for more than $23.50, the $3 is increased to $6.

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Mine Rescue Team Training Credit

This credit is for the lesser of 20% of the amount paid for training costs or $10,000. A qualified mine rescue team employee is any full-time employee who is a miner eligible for more than six months of the taxable year, who has completed a minimum 20-hour course of instruction. The miner is also required to complete 40 hours of refresher training. An eligible miner must mine in the United States.

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Crain's New York Business asked Tax Leader Joseph Perry about how tax reform is impacting Marcum's business.


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Crain's New York Business asked Tax Leader Joseph Perry about how tax reform is impacting Marcum's business.

With the hand-scribbled ink still wet on Washington's shifting legislative efforts, accounting executives such as Joseph Perry and his team at Marcum are fielding an ....

The Los Angeles Times asked Marcum to partner on a project to see how the 2016 tax returns of selected readers would fare under the House and Senate tax reform bills.


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The Los Angeles Times asked Marcum to partner on a project to see how the 2016 tax returns of selected readers would fare under the House and Senate tax reform bills.

Republican tax plans are working their way through Congress. If the House and Senate can agree on a final bill, will you owe more or ....

Bloomberg BNA quoted national Tax Leader Joseph Perry in an article about the treatment of the corporate alternative minimum tax in the House and Senate tax bills.


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Bloomberg BNA quoted national Tax Leader Joseph Perry in an article about the treatment of the corporate alternative minimum tax in the House and Senate tax bills.

The AMT, a much-hated provision of the tax code, requires corporations and individuals to recalculate their tax liability if they took too many credits or ....

Bloomberg BNA quoted national Tax Leader Joseph Perry in a Daily Tax Report story about the taxation of pass-through income under the House and Senate bills.


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Bloomberg BNA quoted national Tax Leader Joseph Perry in a Daily Tax Report story about the taxation of pass-through income under the House and Senate bills.

Pass-through taxation represents one of the biggest rifts between the House and Senate tax reform plans, a difference that will have to be resolved before ....

The New York Times quoted Tax Leader Joseph Perry in an article about strategies to prepare for the loss of deductions for state and local taxes and property taxes.


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The New York Times quoted Tax Leader Joseph Perry in an article about strategies to prepare for the loss of deductions for state and local taxes and property taxes.

The Senate and House may spend most of the month ironing out the differences in their tax bills. Or they may be delayed by other ....

The New York Times interviewed Tax Partner Kurt Koegl about the likely impact of tax reform on real estate investment trusts.


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The New York Times interviewed Tax Partner Kurt Koegl about the likely impact of tax reform on real estate investment trusts.

After a frenzy of congressional action to rewrite the tax code, salesclerks and chief executives are calculating their gains. Business was treated with the everyone's-a-winner ....

Fox Business interviewed national Tax Leader Joseph Perry for a story about how tax reform will impact homeowners in high-tax states.


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Fox Business interviewed national Tax Leader Joseph Perry for a story about how tax reform will impact homeowners in high-tax states.

Republicans are moving a tax reform bill through Congress that could have both short-and long-term impacts on housing prices and trends. Real estate lobbies are ....

Tax Cuts and Jobs Act: What Are The Proposed Changes to Depreciation?


Tax Compliance

Tax Cuts and Jobs Act: What Are The Proposed Changes to Depreciation?

The Tax Cuts and Jobs Act was passed by the House of Representatives on November 16, 2017. The Senate Finance Committee also passed its own ....

Barron's quoted Family Wealth Services Leader Carolyn Mazzenga in an article about how high net worth taxpayers residing in New York City may be impacted by tax reform.


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Barron's quoted Family Wealth Services Leader Carolyn Mazzenga in an article about how high net worth taxpayers residing in New York City may be impacted by tax reform.

As Senate Republicans moved closer to an overhaul of the nation's tax code, the prospect of sharp cuts to corporate taxes loomed larger.

The Wall Street Journal quoted Philadelphia Tax Leader Ed Reitmeyer in an article about how the House and Senate tax bills would likely affect President Trump.


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The Wall Street Journal quoted Philadelphia Tax Leader Ed Reitmeyer in an article about how the House and Senate tax bills would likely affect President Trump.

Opponents of the Republican tax proposal moving through Congress are focusing in part on one particular billionaire as they seek to rally Americans against it: ....

Construction Executive's Managing Your Business published an article by Tax Partner James Lundy about the critical importance for construction contractors to undertake annual tax planning.


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Construction Executive's Managing Your Business published an article by Tax Partner James Lundy about the critical importance for construction contractors to undertake annual tax planning.

More than almost any other industry, construction contractors need to spend time and resources planning for their income taxes before the end of their fiscal ....

Bloomberg News interviewed Family Wealth Services Leader Carolyn Mazzenga about whether the loss of the state and local tax deduction in New York will drive wealthy taxpayers to move.


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Bloomberg News interviewed Family Wealth Services Leader Carolyn Mazzenga about whether the loss of the state and local tax deduction in New York will drive wealthy taxpayers to move.

By eliminating the deduction for most state and local taxes, an individual making a yearly salary of $1,000,000 - a figure not uncommon in the ....

The Hartford Business Journal published an article by State & Local Tax Leader Paul Graney, on the tax changes contained in the bipartisan budget agreement enacted in Connecticut.


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The Hartford Business Journal published an article by State & Local Tax Leader Paul Graney, on the tax changes contained in the bipartisan budget agreement enacted in Connecticut.

On Oct. 31, Gov. Dannel P. Malloy signed a trick-or-treat bipartisan budget agreement that provided for a number of new tax changes. He also vetoed ....

Forbes tapped the expertise of Tax Partner Janis Cowhey for an article about smart ways to tap your retirement money early.


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Forbes tapped the expertise of Tax Partner Janis Cowhey for an article about smart ways to tap your retirement money early.

Ideally, you'll leave the money in your retirement accounts growing untouched until you retire. Uncle Sam imposes a 10% penalty on some early withdrawals to ....

Window for California Competes Tax Credit is Fast Approaching


Tax Flash - Tax Credits & Incentives

Window for California Competes Tax Credit is Fast Approaching

The California Competes Tax Credit program is an award-based program that is funded through the state's general fund. The purpose of the California Competes Tax ....

Research and Development Credit - R&D Expense IRS Directive


Research & Development Credit

Research and Development Credit - R&D Expense IRS Directive

Effective September 11, 2017, the Internal Revenue Service introduced a Research and Development Credit Directive for taxpayers that report R&D costs on GAAP audited financial ....

NBC Nightly News interviewed New York Tax Leader Maury Cartine for a story about how much President Trump stands to potentially save under the GOP tax plan.


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NBC Nightly News interviewed New York Tax Leader Maury Cartine for a story about how much President Trump stands to potentially save under the GOP tax plan.

NBC Nightly News interviewed New York Tax Leader Maury Cartine for a story about how much President Trump stands to potentially save under the GOP ....

The New York Times spoke with Philadelphia Tax Partner-in-Charge Ed Reitmeyer about the treatment of pass-through income under the House Tax Cuts & Jobs bill.


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The New York Times spoke with Philadelphia Tax Partner-in-Charge Ed Reitmeyer about the treatment of pass-through income under the House Tax Cuts & Jobs bill.

The rewrite of the tax code, which the House passed on Thursday, proposed a 25 percent tax rate for small businesses for owners who report ....

NBC News asked Marcum to analyze the impact of the House Tax Cuts & Jobs Act on the 2005 federal tax return of Donald Trump, and reported the Firm's findings.


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NBC News asked Marcum to analyze the impact of the House Tax Cuts & Jobs Act on the 2005 federal tax return of Donald Trump, and reported the Firm's findings.

President Donald Trump has insisted, for months, that the Republican tax plan he supports won't benefit him. In fact, Trump and his heirs potentially could ....

Senate Committee on Finance Issues Version of Tax Cuts and Jobs Act


Tax Flash

Senate Committee on Finance Issues Version of Tax Cuts and Jobs Act

Last week, the Senate Finance Committee issued its version of the recently released House Tax Cuts and Jobs Act.

Avoid Double Taxation in Tennessee


State & Local Taxation

Avoid Double Taxation in Tennessee

Many Tennessee businesses have an interest in flow through entities subject to Tennessee taxation. The flow through income is reported by both the parent and ....

2017 Marcum Year-End Tax Guide Now Available


Press Release

2017 Marcum Year-End Tax Guide Now Available

Marcum LLP has issued its 2017 Year-End Tax Guide in the midst of Congressional efforts to reform the national tax code. This year's tax guide ....

Bloomberg Markets spoke with Tax Partner Shaun Blogg, Marcum's office managing partner in West Palm Beach, FL, about the impact of tax reform for businesses and individual taxpayers.


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Bloomberg Markets spoke with Tax Partner Shaun Blogg, Marcum's office managing partner in West Palm Beach, FL, about the impact of tax reform for businesses and individual taxpayers.

Shaun Blogg, Marcum's office managing partner in West Palm Beach, FL, discussed the impact of tax reform for businesses and individual taxpayers with Bloomberg Markets.

Bloomberg Markets asked Tax Principal Michael D'Addio onto the program to discuss the prospects for the House and Senate tax bills.


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Bloomberg Markets asked Tax Principal Michael D'Addio onto the program to discuss the prospects for the House and Senate tax bills.

Bloomberg Markets asked Tax Principal Michael D'Addio onto the program to discuss the prospects for the House and Senate tax bills.

The Philadelphia Inquirer interviewed Jeffrey Winkleman, partner-in-charge of corporate taxation, and Steve Brett, president of Marcum Financial Services, for an article about the proposed cap on 401(k) contributions.


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The Philadelphia Inquirer interviewed Jeffrey Winkleman, partner-in-charge of corporate taxation, and Steve Brett, president of Marcum Financial Services, for an article about the proposed cap on 401(k) contributions.

Wall Street can't be happy about Congress' proposal to cap our yearly 401k contributions at $2,400 - thats the tax-deferred amount we would be able ....

Forbes interviewed Tax Partner Janis Cowhey about the increased lifetime estate and gift tax exemption.


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Forbes interviewed Tax Partner Janis Cowhey about the increased lifetime estate and gift tax exemption.

Its official. For 2018, the estate and gift tax exemption is $5.6 million per individual, up from $5.49 million in 2017. That means an individual ....

Employee Retention Credits under the Disaster Tax Relief and Airport and Airway Extension Act of 2017


Tax Flash

Employee Retention Credits under the Disaster Tax Relief and Airport and Airway Extension Act of 2017

On September 29, 2017, the Disaster Tax Relief and Airport and Airway Extension Act of 2017 was signed into law, providing certain temporary tax relief ....

IRS and Treasury to Withdraw Proposed Regulations that Would Affect Discounts Applied to Transfers of Family-Owned Businesses


Tax Flash

IRS and Treasury to Withdraw Proposed Regulations that Would Affect Discounts Applied to Transfers of Family-Owned Businesses

On October 2, 2017, The Trump Administration issued Executive Order 13789. Included in this Executive Order, the IRS and the Treasury establish that they will ....

The New York Post interviewed Tax Leader Joseph Perry about the impact of potentially losing the deductions for mortgage interest, property taxes, and state and local taxes.


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The New York Post interviewed Tax Leader Joseph Perry about the impact of potentially losing the deductions for mortgage interest, property taxes, and state and local taxes.

Homeowners would get a choice between deducting property taxes or mortgage interest on their federal tax returns as Republicans on Tuesday discussed modifications to the ....

Financial Advisor magazine spoke with Tax Partner John Mezzanotte about how to help clients save taxes on required minimum distributions from IRA accounts.


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Financial Advisor magazine spoke with Tax Partner John Mezzanotte about how to help clients save taxes on required minimum distributions from IRA accounts.

Once your client reaches age 70 1/2, he or she must take required minimum distributions (RMDs) annually from taxable IRA and 401(k) accounts.

WCBS-TV 2 interviewed Tax Partner Robert Spielman about the impact of the new Tax Reform Framework on Long Island homeowners.


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WCBS-TV 2 interviewed Tax Partner Robert Spielman about the impact of the new Tax Reform Framework on Long Island homeowners.

President Donald Trump calls his tax reform plan a middle class miracle. But the elimination of most deductions, including state and local taxes, has some ....

The Long-Awaited Tax Proposal: The Unified Framework for Fixing our Broken Tax Code


Tax Flash

The Long-Awaited Tax Proposal: The Unified Framework for Fixing our Broken Tax Code

On September 27, 2017, the Trump Administration and Republican leaders released a unified framework for tax reform that would make changes to both individual and ....

Tax Partner Robert Spielman wrote about maximizing your charitable contributions for his latest column in the Coconut Creek City News.


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Tax Partner Robert Spielman wrote about maximizing your charitable contributions for his latest column in the Coconut Creek City News.

There is seemingly no end to the solicitations we receive from qualified charitable organizations seeking our assistance.

CNBC spoke with Trusts & Estates Co-Leader David First about the proposed repeal of the estate tax.


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CNBC spoke with Trusts & Estates Co-Leader David First about the proposed repeal of the estate tax.

Donald Trump rallied the working class, but he is also championing one benefit favoring only the super-rich: eliminating the federal estate tax.

IRS Tax Relief for Hurricane Irma Victims


Tax Flash

IRS Tax Relief for Hurricane Irma Victims

The IRS is providing help to the victims of Hurricane Irma. Special tax relief and assistance is available to taxpayers in the Presidential Disaster Areas. ....

IRS has Provided Significant Relief for Taxpayers Affected by Hurricane Harvey


Tax Flash

IRS has Provided Significant Relief for Taxpayers Affected by Hurricane Harvey

As a result of the devastation caused by Hurricane Harvey, IRS has granted two significant forms of relief for those affected by the storm. The ....

The Tax Advisor published a semiannual review of recent developments in individual taxation, co-authored by Tax Director Don Zidik.


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The Tax Advisor published a semiannual review of recent developments in individual taxation, co-authored by Tax Director Don Zidik.

The IRS issued proposed regulations that update the definition of dependent to be consistent with Sec. 152 and reverse the IRS's previous position regarding when ....

Bloomberg TV's Daybreak America invited Tax Leader Joseph Perry back to the program to discuss Washington's agenda for tax reform.


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Bloomberg TV's Daybreak America invited Tax Leader Joseph Perry back to the program to discuss Washington's agenda for tax reform.

Joseph Perry, tax and business services leader at Marcum LLP, discusses the issues that he feels need to be tackled in order to achieve U.S. ....

Internal Use Software Regulations for the Research Tax Credit


Research & Development

Internal Use Software Regulations for the Research Tax Credit

In 2016, the Internal Revenue Service issued final regulations (T.D. 9786) regarding guidance on software that is developed primarily for a taxpayer’s internal use in ....

Tax Partner Paul Graney discussed a revision of the Pennsylvania Department of Revenue ruling on software support tax with Bloomberg BNA.


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Tax Partner Paul Graney discussed a revision of the Pennsylvania Department of Revenue ruling on software support tax with Bloomberg BNA.

The Pennsylvania Department of Revenue has revised a controversial letter ruling on computer software support, dialing back guidance in an earlier version that implied training ....

CNBC.com interviewed Tax Partner Janis Cowhey about funding pre-school education for grandchildren.


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CNBC.com interviewed Tax Partner Janis Cowhey about funding pre-school education for grandchildren.

Here's a way for boomers to share the wealth with their children and grandkids: Cover the cost of preschool and shake off gift taxes to ....

New Businesses or Start-Ups: Get Ready for the New Research and Development Credit Payroll Tax Offset


Tax Flash

New Businesses or Start-Ups: Get Ready for the New Research and Development Credit Payroll Tax Offset

The passing of the Protecting Americans from Tax Hike (PATH) Act of 2015 introduced many exciting changes related to the Research and Development (R&D) Tax ....

Tax Benefits of Hiring Veterans


Tax Credits & Incentives

Tax Benefits of Hiring Veterans

Our nation's veterans can provide businesses with various benefits, from leadership skills to work ethic and attention to detail. However, hiring veterans can also provide businesses ....

IRS Announces Guidance on Refundable Payroll Taxes of Research and Development Tax Credit Claims


Tax Credits & Incentives

IRS Announces Guidance on Refundable Payroll Taxes of Research and Development Tax Credit Claims

The IRS recently announced guidance regarding filing, claiming and reporting requirements related to the refundable Payroll Tax Credit provisions of the Research and Development (R&D) tax ....

Research & Development Tax Credit: Consider the Extension and Changes to Law When Preparing 2015 and 2016 Tax Returns


Tax Flash

Research & Development Tax Credit: Consider the Extension and Changes to Law When Preparing 2015 and 2016 Tax Returns

In December 2015, the Protecting Americans from Tax Hikes Act of 2015 ("Tax Extenders Bill") was signed into Law. The law includes an expansion of ....

New Florida R&D Tax Credit


Tax Flash

New Florida R&D Tax Credit

Tax Credits & Incentives Brochure

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William Kuhlman, R&D Tax Credits Leader, Tax & Business

R&D Tax Credits Leader
Tax & Business
Philadelphia, PA
 
2018 YEAR-END TAX GUIDE

The Marcum 2018 Year-End Tax Guide continues our tradition of providing timely tax guidance for the upcoming year.

 
 
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