Navigating Global Tax Credits and Incentives

Welcome to Tax Compass, your ultimate guide to navigating the complex world of global tax credits and incentives. In today's rapidly evolving business landscape, understanding and leveraging tax credits and incentives can significantly impact your organization's financial health and competitive edge. Whether you're a multinational corporation, a small business owner, or an individual taxpayer, staying informed about available tax benefits is crucial.

Tax Compass is your trusted resource for comprehensive insights, analysis, and updates on tax credits and incentives from around the globe. Our team of tax experts is dedicated to providing you with accurate, up-to-date information to help you make informed decisions and maximize your tax savings.

Through our blog, we delve into various aspects of tax credits and incentives, including research and development (R&D) tax credits, investment incentives, energy efficiency incentives, and more. We break down complex tax laws and regulations into digestible content, ensuring that our readers can easily grasp the intricacies of tax incentives relevant to their businesses or personal finances.

Whether you're seeking guidance on claiming tax credits, understanding eligibility criteria, or staying abreast of legislative changes impacting tax incentives, Tax Compass has you covered. Our goal is to empower you with the knowledge and resources needed to navigate the intricate maze of global tax systems and optimize your tax strategy effectively.

Stay tuned to Tax Compass for regular updates, expert insights, case studies, and practical tips to help you unlock the full potential of tax credits and incentives in your financial journey. Let Tax Compass be your guiding light in the ever-changing landscape of global taxation.
 

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RECENT ISSUES:

Hurricane Helene Tax Relief: A Comprehensive Guide to the Extended WOTC Filing Deadlines
February 4, 2025

The California Competes Tax Credit
January 8, 2025

IRS Extends Research Credit Claim Transition Period Through January 2026
December 11, 2024

Unlocking the Benefits of the Employer-Provided Childcare Tax Credit
December 3, 2024

The Colorado Enterprise Zone Program
November 19, 2024

Maximizing Tax-Exempt Benefits With the Federal Work Opportunity Tax Credit
November 5, 2024

The Virginia Major Eligible Employer Grant Program
October 22, 2024

How the Work Opportunity Tax Credit Unlocks Value for Private Equity Firms and Their Investments
October 8, 2024

Texas Natural Gas Vehicle Grant Program: A Pathway to Cleaner Transportation
September 24, 2024

IRS Reopens Employee Retention Credit Voluntary Disclosure Program
August 22, 2024

IRS Announces New Measures To Address High-Risk Employee Retention Credit Claims
July 17, 2024

New York Excelsior Jobs Tax Credit
May 21, 2024

Virginia R&D Tax Credit Changes: What You Need To Know
May 15, 2024

Unleashing the Potential of R&D Tax Credits: A Deep Dive Into ERP Customization and Software Development
April 23, 2024


 

PAST ISSUES:

You Perform R&D? The IRS Wants to See Proof

Effective January 10, 2022, the IRS will require all research and development credit (Sec 41) refund claims include supporting documentation. Read our full blog on required documentation for all R&D tax credit claims.

R&D Tax Credits & COVID-19

As companies work to adapt to commercial life during the COVID-19 pandemic, tax planning has come into focus for cash recovery and cost reduction. For many companies, decreased earnings and special tax incentives/remedies in response to COVID-19 will greatly reduce or eliminate federal income tax for a year or more.

Meals and Entertainment – Notice 2021-25

The Consolidated Appropriations Act 2021 (“CAA”) increased the deduction for the cost of food and beverages provided by a restaurant from 50% to 100%. The IRS recently issued Notice 2021-25 to provide guidance on when the 100% deduction applies.
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