skip to main content
UHY US
UHY header-overlay
Tax (1)

Tax

Minimize Tax Liability, Innovate Your Tax Strategy

Whether business or personal, our substantial industry experience and invaluable insights empower you to take control of your taxes. We offer an array of strategic tax solutions that can help minimize tax liability in a complicated tax environment.

With resources at the state, national, and international level, our experienced tax professionals anticipate the next move to address current and ever-changing legal and regulatory requirements that may impact our clients.

Left N Shape Pattter
Mobile view- Testimonial

What Do Our Clients Think?

Reducing the Tax Burdens of Small Businesses

Reducing the Tax Burdens of Small Businesses

I was spending too much time working in the business and not enough time working on the business, and we needed to make a change. Our UHY team is a true business partner that has been both proactive and responsive in managing our accounting and tax issues. UHY was a valued advisor helping us navigate through the Paycheck Protection Program and the TCJA to help us save as many tax dollars as possible. For a small business that doesn’t have an in-house accounting team, UHY has been an extension of our team and has allowed me to focus on running my business.

– Nate Johns, Partner, Element H

Setting Up for Success Through Leadership Collaboration

Setting Up for Success Through Leadership Collaboration

UHY has a strong understanding of our business that helps us plan for the future. As our business continues to evolve, our engagement team’s knowledge and informed thinking has helped us think strategically. UHY meets with our executive team throughout the year to review our tax planning strategies, which allows us to map out the year ahead. It is so refreshing to work with a team that is a joy to work with, and where we are all on the same page.

– Chris LaJoy, Owner, LaJoy Group, Inc.

Dependable Service that Adapts to Business Challenges

Dependable Service that Adapts to Business Challenges

UHY has provided Sterling Corporation and The Markow Companies with outstanding service since 1995, supporting our tax planning, acquisition efforts, and both personal and corporate tax return preparation. They played a crucial role in the growth of our Sterling Office Services Division and have since become an essential partner, especially during acquisitions. Their support was invaluable during COVID, guiding us through complex challenges, and we are deeply grateful for their knowledge. We look forward to many more years of partnership with UHY.

– Dan Markow, Chief Executive Officer & President, Sterling Corporation

Specialized Tax Services

Combining value-added knowledge and expertise with our personalized attention and individualized strategies, we work directly with you to customize the most effective solutions for your business at the individual, state and local, federal, and international levels.

Our tax practice includes a diverse group of professionals, each with a unique technical skill set within different areas of tax. We can call upon industry leaders specializing in niche sectors of tax compliance, with a thorough understanding of those sectors. We can call upon industry leaders in complex tax segments like, cost segregation, research and development credits, and transfer pricing.

Start preparing for this year's taxes with our 2024/2025 tax guide.

 

Where We Can Help

Increase cash flow and reduce tax liability for your real estate assets by maximizing your depreciation expenses with our cost segregation specialists.

Federal Tax

Ensure your organization maximizes its tax deductions and credits with the help of our team’s deep tax specialization.

 

 

We’ll help ensure your organization maximizes tax deductions and credits and preserves capital so you can put those tax savings to work in your organization. Your dedicated team will provide all compliance-related services, including federal consolidated tax returns, state tax compliance and income tax reporting.

International Tax

Addressing the complexity of international taxation requires specialists with global resources to provide in-country services where your business operates.

Whether you’re an individual, family, or closely-held business, our integrated team of professionals develops strategies with you that manage and preserve your assets.

Identify and maximize the dollar-for-dollar R&D tax credit for your organization’s eligible activities and get support from our specialists to withstand IRS scrutiny.

Navigate the nuances of state and local taxes with our advisors, who have the knowledge to identify areas of exposure and improve your state and local tax standing.

Transfer Pricing

Transfer pricing is a crucial consideration for global companies subject to complex regulations over the pricing of controlled transactions within a multinational entity.

Establishing a sound transfer pricing strategy for your company is paramount to avoiding consequences, and it’s been named the single most important international tax issue.

Increase cash flow and reduce tax liability for your real estate assets by maximizing your depreciation expenses with our cost segregation specialists.

Federal Tax

Ensure your organization maximizes its tax deductions and credits with the help of our team’s deep tax specialization.

 

 

We’ll help ensure your organization maximizes tax deductions and credits and preserves capital so you can put those tax savings to work in your organization. Your dedicated team will provide all compliance-related services, including federal consolidated tax returns, state tax compliance and income tax reporting.

International Tax

Addressing the complexity of international taxation requires specialists with global resources to provide in-country services where your business operates.

Whether you’re an individual, family, or closely-held business, our integrated team of professionals develops strategies with you that manage and preserve your assets.

Identify and maximize the dollar-for-dollar R&D tax credit for your organization’s eligible activities and get support from our specialists to withstand IRS scrutiny.

Navigate the nuances of state and local taxes with our advisors, who have the knowledge to identify areas of exposure and improve your state and local tax standing.

Transfer Pricing

Transfer pricing is a crucial consideration for global companies subject to complex regulations over the pricing of controlled transactions within a multinational entity.

Establishing a sound transfer pricing strategy for your company is paramount to avoiding consequences, and it’s been named the single most important international tax issue.

Wealth Management Services

UHY Wealth Management was founded on the premise of bringing a unified client service model to our existing and prospective clients. By combining the resources of financial, tax and estate planning professionals, UHY Wealth Management aligns our services to meet your unique goals and objectives. We strive to exceed expectations in personal attention and individual service for our clients and their financial goals.

Related Insights

Executive Briefing Webinar Series 2024 Annual Tax Update

12/11/24

2025 will likely bring income taxes to the forefront of business and individual planning.

Story Telling Financial Planning

11/15/24

In today’s dynamic business environment, Financial Planning & Analysis (FP&A) is evolving beyond traditional number crunching and into a strategic function that empowers…

2024 US Election Tax (1)

11/13/24

The outcome of the 2024 presidential election is likely to significantly impact taxes.

Twopeopleinfrontofcomputer

11/07/24

After releasing the inflation adjusted income tax brackets in October, the IRS has issued Notice 2024-80, 2025 Amounts Relating to Retirement Plans and…

Mother Child Umbrellas Rain Hurricane Helene SALT Relief

11/01/24

Many individuals and businesses are still dealing with the aftermath of Hurricane Helene.

Two People Home Table Smiling Papers Taxes MA Amnesty

10/29/24

The Massachusetts Department of Revenue will launch a tax amnesty program from November 1 to December 30, 2024.

Two People Computer Home Tax Brackets 2025

10/23/24

Tax bracket inflation adjustments for the past two years rose by 5.4% in 2024 and a whopping 7.1% in 2023.

US Flag Box Hand Ballot Elephant Donkey Political Parties 2024 Taxes Campaign

10/04/24

Early voting for the 2024 election has already kicked off in some states, but voters are still seeking additional information on the candidates’…

IRS Plans to Resume Denials, Payments on ERC Claims

09/10/24

The IRS has announced that it will start processing some of the pandemic-era Employee Retention Credit (ERC) claims that were halted when the…

IRS Offers Second ERC Voluntary Disclosure Program as Investigations of Improper Claims Continue

08/22/24

The IRS has introduced a second voluntary disclosure program (VDP) for improper Employee Retention Credit (ERC) claims under Announcement 2024-30.

Hurricane Beryl Tax Extensions and Tax Exemptions in Texas

07/15/24

Texas Acting Governor Dan Patrick issued a disaster proclamation on July 5 that was subsequently amended on July 6, 2024, declaring a state…

2024 Election Stirs Tax Anxiety for the Middle Market

07/08/24

We are halfway through the 2024 calendar year and the election rhetoric will only be ratcheted up as we draw closer to the…

The Tax Updates Cfos Should Be Thinking About Through 2024

06/28/24

The last few years have held a bevy of tax changes that have reshaped the finance environment for many companies.

State-Specific Sales Tax Nexus

06/07/24

Sales tax nexus occurs when a business has some kind of connection to a state.

Governor of Tennessee Signs Billion Dollar Franchise Tax Cut into Law

05/15/24

The Tennessee House of Representatives and Senate have approved Tennessee Governor Bill Lee’s proposed $1.9 billion franchise tax deal eliminating the franchise tax…

The Inflation Reduction Act Incentives and Investments

05/10/24

President Joe Biden signed The Inflation Reduction Act (IRA) into law on August 16, 2022.

Michigan Department of Treasury Delays Implementation of Paymentus

05/06/24

The Michigan Department of Treasury has delayed the transition of the Michigan Treasury Online (MTO) electronic payment system to Paymentus due to issues…

IRS Eliminates 2024 RMDs for IRA Beneficiaries Subject to 10-Year Rule

04/18/24

IRS Notice 2024-35 eliminates 2024 required minimum distributions (RMD) for beneficiaries that would have otherwise been required to take one under the SECURE…

New Michigan RD Tax Credit Provides Huge Tax Savings Opportunities

04/09/24

Governor Gretchen Whitmer is expected to sign new legislation approving a Michigan Research and Development Tax Credit that would provide significant tax savings…

Ruling by California Office of Tax Appeals Presents Major Opportunity for Corporate Tax Refund

04/08/24

The California Office of Tax Appeals (OTA) originally ruled that Microsoft could exclude 100 percent of repatriated income from their California business income…

State and Local Business Tax Insights and Updates

03/29/24

Tennessee Tennessee Senate Passes $1.9 Billion Business Tax Cut, Law to Create Tax Refund for Tennessee Businesses Last fall, a coalition of businesses…

Uhy Placeholder Gray ESG Solutions

03/29/24

Companies are facing increased pressure from investors and consumer expectations as the business landscape continues to change drastically.

Uhy Placeholder Gray Not-For-Profit Services

03/29/24

With decades of experience, UHY provides an extensive number of services for not-for-profit and educational organizations.

Uhy Placeholder Gray State And Local Tax Services

03/29/24

Our combination of knowledge, competencies, and experience helps us enable you to decrease or ease your tax burden, including taking advantage of tax…

Uhy Placeholder Gray R&D Services

03/29/24

Research and development tax credits assist companies in determining their allowable credit while backing them with proper documentation to withstand IRS scrutiny.

Uhy Placeholder Gray TECHNOLOGY RISK & COMPLIANCE SERVICES

03/29/24

UHY’s professionals offer decades of experience and success in IT assurance and consulting, with specialized technology skills and extensive IT controls knowledge.

Tax Time Tutorial Advice On IRS Audits From Long Island Cpas

03/26/24

While tax preparation may seem like a mundane procedure, the prospect of an IRS audit can significantly elevate stress levels during tax season.

Severe Weather in 2023 Delay Federal Tax Deadlines for Michigan Taxpayers

02/22/24

Earlier this month, several counties in Michigan were declared Federal disaster areas by the Federal Emergency Management Agency (“FEMA”) because of the severe…

R&D Expensing Gets Another Chance

02/08/24

The Tax Relief for American Families and Workers Act is stalled in the Senate, but one particular provision has tax professionals keeping a…

Tax Season Coming With Changes, How The Child Credit And Earned Income Credit Could Affect Returns

02/05/24

As the proposed Tax Relief for American Families and Workers Act of 2024 sits in the Senate awaiting passage, some taxpayers are holding…

Framework on Potential Tax Relief for American Families and Workers Act of 2024

01/19/24

The anticipated $78 billion bipartisan deal contains benefits for both individuals and families as well as businesses.

IRS Guidance Employer Roth Matching Contributions SECURE 2.0

01/16/24

The IRS issued guidance on twelve (12) provisions of the SECURE 2.0 Act on December 20, 2023.

SECURE 20 Act Changes to Roth Provisions in 2024

01/09/24

As we enter 2024, many new provisions from the SECURE 2.0 Act will be effective as of January 1.

New Michigan Flow-Through Entity Tax Election Required by March 15

01/05/24

As many taxpayers are aware, the state of Michigan enacted the Flow-Through Entity (FTE) Tax effective for the tax years beginning January 1,…

Expanded Tax Credit for Energy-Efficient Home Builders

01/03/24

In a significant boost to the construction industry and the green building movement, the IRS has updated its policies, providing eligible contractors with…

Qualifying for Home Office Tax Deductions

01/03/24

Despite the popularity of hybrid and remote working situations, taxpayers may be surprised to find they do not qualify for home office deductions…

IRS Issues 2024 Standard Mileage Rates

12/28/23

As of January 1, the standard mileage rates for 2024 are as follows: 67 cents per mile driven for business use (up 1.5…

Details on Employee Retention Credit Voluntary Disclosure Program

12/27/23

The Employee Retention Credit (ERC) voluntary disclosure program was announced earlier this month along with 20,000 disallowed ERC claims marking the latest in…

Dangerous Precedent Lies in Ruling of Moore v. United States

12/27/23

The Supreme Court case involves retirees Charles and Kathleen Moore, minority stakeholders in an Indian business classified as Controlled Foreign Corporation (CFC).

5 Tips For Smoothing Out Year End AP AR Processes

12/21/23

Year-end close processes are often a reflection of the year, and with a tumultuous one like 2023, many CFOs and controllers are looking…

Want To Buy An EV Now Is A Good Time. You Can Still Get The Full Tax Credit And Selection

12/19/23

If you bought an electric vehicle before December 31, the full EV tax credit (up to $7,500) is available on the widest selection…

IRS Disallows 20k Questionable Claims Announces Voluntary Disclosure Program

12/18/23

Earlier this month, the IRS announced that it was launching a voluntary disclosure program for those who received payments on illegitimate employee retention…

End Of The Year Financial Planning

12/15/23

December is not only a time to reflect on your finances and goals for the coming year, but also an opportunity to plan…

IRS Plans to Increase Transfer Pricing Compliance

12/12/23

The Internal Revenue Service (IRS) issued IR-2023-194 on October 20, 2023, indicating the launch of new initiatives using funding from the IRS Inflation…

Executive Briefing Webinar Series 2023 Annual Tax Update

12/06/23

Certain provisions of the Tax Cuts & Jobs Act are set to expire at the end of 2025.  These changes, along with bonus…

The Surprise Bill Coming To Those Who Underpay Their Taxes

12/02/23

As of October 1, 2023, the IRS has raised the estimated tax underpayment penalty to 8%, a significant increase from the 3% of…

IRS Revises Timeline for $600 Reporting Threshold for Paypal, Cash App, Others

11/28/23

The IRS recently announced that it would delay the $600 reporting threshold on platforms like PayPal, eBay, Etsy, Venmo, and Cash App until…

Shield Life Insurance Proceeds from Estate Tax with an ILIT

11/16/23

Life insurance can provide peace of mind, but if your estate will be large enough that estate taxes will be a concern, it’s…

Year-End Tax Planning Strategies to Reduce Your 2023 Income Tax Bill

11/13/23

Several factors are making 2023 a confounding tax planning year for many.

Maximize Deductions on Improvements and Repairs to Your Business

11/10/23

If your business completes minor repairs by December 31, you can deduct those costs on your 2023 tax return.

Beware of the Net Investment Income Tax

11/08/23

The 3.8 percent net investment income tax (NIIT) is an additional tax that applies to higher-income taxpayers on top of capital gains tax…

Mastering Your Financial Life Tax Planning With Pam Mosiello

11/07/23

The year-end is coming up, and tax planning is an essential element of maintaining a good financial balance.

A Closer Look at SolarWinds

11/07/23

When it comes to cybersecurity, CISOs, Executive Leaders, and Board members have a tough job.

Brazils New Transfer Pricing Framework Effective Jan 1 2024

11/06/23

Effective January 1, 2024, Brazil will adopt the Organisation for Economic Co-operation and Development (OECD) Transfer Pricing Guidelines.

Inflation Causes IRS To Raise Tax Brackets, Standard Deduction By 5.4%

11/05/23

The federal income tax brackets for 2024 released by the IRS have been adjusted with an annual inflation rate slightly above that of…

Tweaks to Tax Credits Give EVs a Shot at Succeeding

11/05/23

With electric vehicle inventories approaching 100 days' supply for certain automakers, the Department of Treasury is looking to put another jolt into EV…

IRS Business Tax And Tax Pro Accounts May Get Slashed

11/03/23

Further cuts to the IRS’ almost $800 billion in funding from the Inflation Reduction Act are jeopardizing the newly introduced business tax accounts…

Michigan Re-establishes R&D Tax Credit Program to Spark Investment

11/02/23

A highly-supported bipartisan bill to re-establish a state tax credit research and development for research spending is moving quickly through state Congress.

Maximizing Tax Benefits from Employee Bonuses

10/25/23

Business owners may be familiar with the rule that permits a business to deduct employee bonuses this year if the bonus is paid…

IRS Follows ERC Moratorium with Claim Withdrawal Process

10/20/23

The IRS has introduced a significant update for business owners regarding the notorious Employee Retention Credit (ERC).

Inflation Expected to Increase 2024 Tax Bracket Limits

09/25/23

Inflation caused a whopping 7.1% inflation-adjusted increase in tax bracket limits for 2023, and according to a new report from Bloomberg Tax, the…

IRS Issues Moratorium on New Employee Retention Credit Claims

09/18/23

The employee retention credit (ERC) has been capturing headlines for most of the last few months, and employee retention credit specialists have been…

Mandatory Roth Catch-up Provision Postponed Until 2026

08/29/23

The controversial SECURE 2.0 Act provision requiring “catch-up contributions” for high-paid employees to be made on a Roth basis was set to take…

IRS Issues Guidance on Supply Chain Disruption as Qualification for Employee Retention Credit

07/27/23

Employee retention credit (ERC) eligibility has been a hot topic for business owners recently as companies look to recoup losses suffered during COVID-19,…

Queen of Soul 6M Estate Left to Fate of Handwritten Note

07/25/23

It’s never too early to begin planning for your estate with a qualified professional in the event of your untimely passing.

Making a Splash

07/07/23

Northwest River Supplies (NRS) is the story of a remarkable entrepreneur who founded a remarkable business.

Social Securitys Future The Problem and the Proposals

05/23/23

Recent reports have raised new concerns about the impending insolvency of the Social Security program, absent congressional action.

Sunsetting Estate Laws Closer Than You Think

05/16/23

Estate planning is a crucial aspect of personal finance that cannot be ignored, especially by business owners.

Changes to Michigan Sales Tax on Delivery and Installation Charges

05/04/23

The Michigan Department of Treasury has amended the sales and use tax laws as they relate to the taxability of “delivery and installation”…

EV Tax Credits Prompt Confusion, But Opportunities Remain

05/02/23

The narrow requirements for qualifying for the electric vehicle tax credits under the Inflation Reduction Act are causing some consternation in the auto…

Debunking Tax Myths Circulating on TikTok and Other Social Media Platforms

05/02/23

As long as it’s still around, TikTok is arguably the most popular social media application currently operating.

IRS Guidance on the Expanded Clean Vehicle Credit

04/26/23

The Inflation Reduction Act (IRA) extended and expanded the Section 30D Clean Vehicle (CV) Credit, previously known as the Electric Vehicle (EV) Credit.

Breaking Down the IRS Plan for 80B Inflation Reduction Act Funds

04/24/23

After receiving $80 billion from the Inflation Reduction Act in 2022, the IRS has released a strategic plan for the allocation of those…

Time Is Running Out to Take Advantage of Bonus Depreciation

04/10/23

Bonus depreciation, covered under Section 168(k) of the tax code, is set to expire at a rate of 20% each year through Dec.

A Procrastinator’S Guide To Tax Filing How To Stay Out Of Trouble With The IRS

04/05/23

Almost a third of Americans wait until the last minute to file their taxes, most reporting it's due to a stressful or complicated…

New Tax Rules May Spark Business Switch To Evs

03/01/23

A wave of new tax rules and incentives are starting in 2023 as older provisions begin expiring of scaling down.

Congress Extends Section 45L New Energy Efficient Home Credit

02/14/23

Section 1332 of the Energy Policy Act of 2005 initially created the Internal Revenue Code Section 45L Tax Credit for Energy Efficient Homebuilders,…

IRS Introduces Direct Deposit for E-Filed Amended Returns

02/13/23

Processing an amended return is still a manual process estimated at about 20 weeks for paper and e-filed amended returns, but taxpayers can…

Draft Form 6765 Instructions Detail Additional Information Required for Research & Development Credits

02/03/23

The IRS recently released updated draft Form 6765 instructions, the form governed by IRC Section 41, Credit for Increasing Research Activities.

2023 Tax Season Guide For New Parents What To Know About The Child Tax Credit, EITC And More

01/24/23

New parents are often equally overjoyed and overwhelmed when it comes to their first child, but unfortunately, the new child also brings new…

SECURE Act 2.0 Shakes Up Required Minimum Distribution Rules

01/24/23

The Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 was included as part of the Consolidated Appropriations Act, 2023 that was…

IRS Issues 2023 Standard Mileage Rates

01/11/23

As of January 1, the standard mileage rates for 2023 are as follows: 66 cents per mile driven for business use (up 3…

Ten Red Flags that Could Trigger an IRS Audit

01/06/23

Despite a low IRS audit rate historically, there is an expected increase in enforcement over the next 5-6 years due to provisions in…

Year End Spending Package Tackles Retirement Planning Conservation Easements

12/29/22

On December 23, 2022, Congress passed the Consolidated Appropriations Act of 2023.

IRS Delays 600 Reporting Threshold for E-Commerce and Third-Party Payment Platforms

12/28/22

The $1.9 trillion American Rescue Plan of 2021 included a provision requiring third-party settlement organizations to issue Form 1099-K based on a much…

Desired Changes to Section 174 Research Expense Rule Left Off Final Bill of 2022

12/23/22

The Consolidated Appropriations Act, 2023 (CAA), created to fund the government through the fiscal year ending Sept.

Understanding How Alternative Valuation Dates Can Save Money

12/15/22

If you or an advisor must file a Form 706 with the IRS to report estate or generation-skipping tax, understanding the IRS’ allowance…

Avoid Penalties Associated with Required Minimum Distributions

12/05/22

Time is running out to make sure mandatory withdrawals from your retirement account(s) are made before the end of the year to avoid…

Consider Potential Tax Savings from Accelerated Depreciation Strategies

11/30/22

Standard depreciation methods require depreciating the cost of fixed assets over several years, whereas two accelerated depreciation methods “bonus depreciation” and “Section 179…

Inflation Reduction Act Gives IRS Significant Boost What Does It Mean

11/29/22

“The Inflation Reduction Act (IRA) will provide approximately $80 billion over 10 years to fund the IRS and improve tax enforcement activities and…

Executive Briefing Webinar Series Annual Tax Update

11/16/22

From the CHIPs Act to the Inflation Reduction Act, there’s no shortage of enacted and pending legislation that is impacting taxpayers.

Unclaimed Estate Fortune Creates Half-Decade Quest for Answers

10/27/22

Recently, the office of the Illinois State Treasurer was tasked with handling one of the most bizarre and complicated unclaimed estate cases ever…

Significant Increases 2023 Retirement Plan Limitations

10/26/22

Not long after releasing changes to more than 60 tax provisions for 2023 due to inflation, the IRS has issued Revenue Procedure 2022-55…

Inflation Stretches to 2023 Tax Provisions

10/24/22

Inflation has infiltrated all layers of our economy including our tax system.

Executive Briefing Webinar Series Understanding The Latest Changes To R&D Tax Credits

10/19/22

The Research and Development Tax Credit is a dollar-for-dollar cash incentive for US-based businesses that experiment and create more efficient processes and products. …

IRS Lengthens Transition Period for New R D Tax Credit Reporting Requirements

10/17/22

Recent guidance from the IRS states that it will be extending the transition period for more detailed R&D tax credit reporting requirements related…

Inflation Reduction Act Expands Valuable R&D Payroll Tax Credit

10/14/22

When President Biden signed the Inflation Reduction Act (IRA) into law in August, most of the headlines covered the law’s climate change and…

Failure to Repeal R D Expenditure Capitalization Requirements Spoils CHIPS and Science Act

10/10/22

The Creating Helpful Incentives to Produce Semiconductors (CHIPS) and Science Act was signed into law by President Joe Biden in August 2022, containing…

Missouri Income Tax Rate Cut and Expanded Agricultural Tax Credit Programs

10/06/22

On October 5, 2022, Governor Parson signed into law Missouri SCS Senate Bills 3 & 5.

IRS Grants Tax Automatic Extension for Taxpayers Affected by Hurricane Ian

10/04/22

This IRS relief postpones tax filing and payment deadlines for federal individual and business tax returns with deadlines occurring beginning on September 23,…

Employee Retention Credit Claims Get a Closer Look from the IRS

10/03/22

The Employee Retention Credit (ERC) has been utilized by many companies as an incentive to keep employees on their payroll even as the…

Executives Will Soon Factor In Buyback Tax On Capital Management Decisions

08/29/22

The 1% tax on stock buybacks included in the final Inflation Reduction Act may be a nominal amount, but it may be a…

IRS Guidance on New Electric Vehicle Credits in Inflation Reduction Act

08/24/22

The Inflation Reduction Act expanded the affordability of greener vehicles in the U.S.

Detailed Breakdown of Tax Provisions of the Inflation Reduction Act

08/17/22

The Inflation Reduction Act includes significant provisions related to climate change, health care, and, of course, taxes.

Wealthy Clients Mostly Avoid New Taxes As Spending Bill Nears Finish Line

08/11/22

The Inflation Reduction Act promises $790 billion in funding to health care and climate initiatives over the next decade.

Major Tax Impact Expected for Large Businesses with Inflation Reduction Act

08/09/22

With Senate passage of the Inflation Reduction Act, the legislation is expected to pass the House and go to President Biden for signature…

Crypto Taxation What Advisors Need to Know Now

08/09/22

Its recent swoon aside, cryptocurrency continues to make incursions into the mainstream, with roughly 200 million people worldwide using or having used it,…

Details on the CHIPS Act as It Moves to President for Signature

08/08/22

The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently passed by Congress as part of the CHIPS and…

IRS Gives Business Drivers Bigger Break To Offset Gas Shocks

08/05/22

High gas prices may have declined since their peak in June, but the IRS is offering relief for business travelers who are more…

R&D Tax Credits Can Save Your Business Hundreds of Thousands

08/04/22

The Research and Development Tax Credit (R&D tax credit) is a dollar-for-dollar cash incentive for US-based businesses that experiment and create more efficient…

Changes in Sales Use and Excise Taxes in Iowa

07/15/22

Key legislation was recently passed in Iowa, changing the filing and payment requirements for sales, use and excise taxes; the changes took effect…

Colorado Enacts a Delivery Fee on the Sale of Tangible Personal Property

06/30/22

The Colorado Department of Revenue has enacted a new fee/tax related to the retail delivery of goods into the state effective July 1,…

CT Child Tax Rebate Still Available

06/22/22

While 90,000+ families have filed for the state’s new child tax rebate, many more Connecticut families are eligible for the funds.

10-Year Rules for Inherited IRAs Cause Confusion

05/26/22

 The SECURE Act became law in late 2019 and along with its changes to retirement and estate planning strategies, but it also raised…

Virginia Enacts New Pass-Through Entity (PTE) Tax

05/09/22

Virginia joins other states who have adopted state and local tax (SALT) workarounds to the $10,000 federal deduction limit on an individual’s federal…

SECURE 2.0 More Retirement Savings Changes Being Considered

04/19/22

In 2019, the bipartisan Setting Every Community Up for Retirement Enhancement Act (SECURE Act) — the first significant legislation related to retirement savings…

Manufacturers Struggle with State Tax Nexus Compliance for Remote Workers

04/12/22

It’s been two years since COVID-19 forced many employees to work from home.

Top Tax Tips to Keep in Mind for Tax Season

03/09/22

Tax season is well under way, and Mark Welsh sat down with 47 ABC to share some of the top tax tips to keep in…

Legislative Challenges Create Complexity in Booking R&D Expenses

03/08/22

Research and development (R&D) tax deductions and credits have long held bipartisan political support in Congress and throughout the business and consulting world.

Pass Through Entity Taxation

03/07/22

Prior to the Tax Cuts and Jobs Act (TCJA) in 2017, individuals were able to claim a deduction on their federal income tax…

Transfer Pricing: The Overlooked Tax Strategy

02/24/22

According to our 2022 Middle Market Trends Survey 26% of respondents had not considered transfer pricing as a strategy and needed help with…

Michigan Afflicted Business Relief Grant Program Opens March 1

02/21/22

The Department of Treasury is administering a $409 million business grant relief program to help certain businesses that have experienced hardship due to…

Michigan Senate Approves Cuts to Income, Corporate Tax Rates

02/16/22

The reduced rates were part of a $2.5 billion annual tax cut that also includes a child tax credit and increased deductions for…

Considerations for Tax Season 2022

02/14/22

Partner Robert Lickwar talks about the anticipated delays with the IRS, the benefits of starting earlier, and switching from paper to e-filing returns…

Estate and Gift Tax Update for 2022

02/11/22

After much discussion in 2021 surrounding changes to estate planning opportunities, there were no changes made for the 2021 tax year.

Employee Retention Credit Refunds Further Delayed

02/03/22

According to the latest information from the IRS, amended Forms 941 that have already been filed should expect to see a refund somewhere…

Use Inflation as a Tax Advantage by Switching to LIFO

01/26/22

With inflation at record highs, switching inventory valuation methods from first-in, first-out (FIFO) to last‐in, first‐out (LIFO) could help mitigate the effects of…

Avoiding IRS Scams Amid Tax Season

01/17/22

The arrival of tax season also brings new tax-related scams, Mark Welshsat down with 47 ABC to share some tips on how to…

Investors Beware: Cryptocurrency Investments Carry Tax Liability

01/04/22

Many Americans, led by Millennials and Gen Z, are venturing into the world of cryptocurrency trading, seeing it as a way to get…

Survey Says... Understanding Tax Reform Is Biggest Tax Challenge for Middle Market Businesses

01/04/22

According to the UHY 2022 Middle Market Trends Survey, middle market business owners say their three biggest tax challenges were understanding tax reform,…

Michigan Law Allows Tax Deduction for Gambling Losses

01/03/22

On December 27, 2021, Michigan Governor Gretchen Whitmer signed legislation allowing for the deduction of certain gambling losses for tax years starting in…

Contact Us

Contactpattern

Join Our Mailing List

Sign Up Now
Uhy Logo

You are leaving UHY website to visit a site not hosted by UHY. Please review the third-party’s privacy policy, accessibility policy, and terms. UHY is not responsible for the content provided by third-party sites.