The Protecting Americans from Tax Hikes Act Passed! Here’s All the Info You Need.

tax-1501475It’s official! The House, Senate, and President passed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act), which includes momentous tax breaks and incentives for taxpayers. Included in this legislation are over 20 vital permanent provisions that will benefit individuals and businesses alike, including a permanent R&D credit, Section 179 deduction, and the American Opportunity Tax Credit.

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Working out at the Office is a Tax-Free Perk

fitness-series-2-1467446Your company probably offers an array of fringe benefits to its employees, including health insurance and group-term life insurance. While there are certain requirements, these fringe benefits are generally deductible by the company and tax-free to the employees as long as they are not discriminatory in nature. (If your company decides to reward a select group, such as limiting benefits to only the corporate officers, the benefits are generally taxable to the recipients.)

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Handling Interest on Loans to Inject Capital in your Business

capital; money; businessThere are instances when you can write off interest on personal loans used for business purposes, such as injecting capital into an S corporation, multi-member LLC, partnership or C corporation. But keep in mind that interest expenses must be classified into one of four categories (see box at the bottom of this article for details).

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Tax Structuring for Exporters – IC-DISC

ship-1460134In my previous article, How to Start a Global Sales Strategy for Your Exports , I discussed some significant incentives and resources Maryland offers manufacturers that are considering an export initiative. This second article of the three part series will look at tax structures for exporters and the incredible tax savings these structures provide.

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Transfer Pricing for Multinationals: Maximize Opportunities and Minimize Risks

flagsTransfer pricing continues to be one of the most important matters facing multinational companies. The tax situation in any given country can affect whether or not your business sets up facilities or holds intellectual property ownership there. The IRS and numerous tax authorities worldwide are intensifying their focus on how corporations allocate income and expenses among related entities abroad because of the potential to shift income inappropriately to lower tax jurisdictions.

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It Pays to Get Educated

Now that school is back in session, it’s time to take a look at the various tax benefits you may qualify for to help offset the cost of higher education. Below are the various benefits that you may qualify for. If you are “phased out” don’t be discouraged; there is still the possibility that these credits may be claimed on your child’s return.

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