COVID Resources

tax incentives

Biden Administration Proposes Tax Initiatives

The Biden administration recently released a proposed budget for the fiscal year 2022, referred to as the “Green Book”. The budget includes a number of proposals for tax increases along with a series of increased or extended tax credit and incentive programs. Here is a list of some of the proposed changes:

The CARE Act

On March 27, 2020, the President signed into law the CARES Act. The rollout of certain relief provisions like the SBA loan program for wage, rents and utilities may take several weeks to be up and running. Again, with the regular caveat that things are moving fast, here is a list of the CARES Act provisions that we believe to be particularly applicable to small business owners and individual taxpayers:

What Do Manufacturers and Engineers Have In Common?

Many years ago, the Domestic Production Activities Deduction, or DPAD, was enacted to give domestic producers a tax incentive to keep their production facilities, and jobs, in the United States. Targeting manufacturers, construction contractors, and farmers, the DPAD offers an additional 9% tax deduction from income generated by production activities. So what does this deduction…
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