Recent Extension to the Application of the Work Opportunity Tax Credit

WOTC Additional Extension 2016 by www.bdo.com Congress recently extended the application of the work opportunity tax credit (the “WOTC”) to an employee who began working after December 31, 2014, and before January 1, 2020. Because the extension was not enacted until December 15, 2015, and the application for pre-screening an employee must be filed within[…]

The Affordable Care Act Six Years Later

Success or Failure? by John Green and Steven Shill, www.bdo.com The Affordable Care Act (ACA or, colloquially, Obamacare) was passed into law on March 23, 2010. To say that the ACA has generated a considerable amount of controversy over the past six years would be an understatement. The law has precipitated constant infighting between the[…]

IRS Phone Scam

Scam Alert: That’s Not The IRS Calling. We continue to see a rise in the number and sophistication of phone scams, with the IRS issuing a new alert we’d like to pass along to our valued clients of Bronswick Reicin Pollack. It’s important for you to understand the nature of this latest scam so you[…]

The R&D Tax Credit: A Potential Bonus for Innovating

Over the last year, you may have made a substantial investment in research and development to take your business to the next level. You engineered a new product. You created more advanced version of an existing product. You tested several new procedures. You built and customized new software to better support your production processes. Did[…]

IRS Scams on the Rise – Don’t be fooled – It is NOT the IRS calling.

In recent weeks, there has been an increase in IRS Imposter Scams. Fraud artists are calling people throughout the country posing as IRS agents. Currently, these calls are threatening lawsuits, and court appearances. Many of these fraud artists are using phone numbers that look like they are coming from Washington DC or other area codes[…]

Business Tax Spotlight: New Tax Rules for Buying or Improving Property

By Jeff Bronswick, Managing Partner, Bronswick Reicin Pollack, Ltd., CPAs The IRS recently issued final regulations that clarify when business owners can deduct the cost of acquiring, producing or repairing tangible property. For example, the costs of resurfacing a floor to keep the property in good condition would likely be deducted immediately, whereas the addition[…]

Business Tax Savings Spotlight: Research and Development Tax Credit

By Jeff Bronswick, Managing Partner of Bronswick Reicin Pollack, Ltd., CPAs Did you know that you can claim a tax credit for expenses incurred in the development of new, improved and more reliable products, processes and formulas? This often overlooked incentive is available to new and long-established businesses and for new and expanding research and development[…]