The Proactive Solutions Blog

Millennial Buyers Expect Energy Savings

MILLENNIAL BUYERS EXPECT ENERGY SAVINGS


A three-pronged approach can help meet young buyers’ demands for high-performance homes with proven results.

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Domestic Production Deduction

Builders have available to them a little known deduction called the Domestic Manufacturing Deduction or called by its code section “The 199 Deduction”. The deduction is available to builders who have profits and payroll.

The 199 deduction is allowed to all taxpayers—individuals (shown on Form 1040 line 35), and C corporations (shown on Form 1120 line 25). The 199 deduction for partnerships and S corporations (reported on Form K-1 in box 13) flows through to the owner’s individual tax return.

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Work Opportunity Tax Credit

Did you hire workers who qualified for the Work Opportunity Tax Credit in 2015? 

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BDO NONPROFIT QUARTERLY NEWSLETTER

Spring is here, and it's time for nonprofit organizations to “clean house” by examining their management and overall performance. To learn more on the latest developments and trends in the nonprofit industry, take a look at the latest issue of BDO's Nonprofit Standard. It includes:

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Home Office Deduction

If you use your home for business, you may be able to deduct expenses for the business use of your home. If you qualify, you can claim the deduction whether you rent or own your home. You may use either the simplified method or the regular method to claim your deduction. Here are six tips that you should know about the home office deduction:

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Be aware of major mid-April tax deadlines

April is a busy month for taxes. Here are filing requirements to keep in mind.

  • 2015 individual income tax returns or an automatic extension.
  • 2015 partnership returns for calendar year partnerships.
  • Read more…

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Get credit for retirement contributions

Did you make contributions to a traditional or Roth IRA, a myRA, or a SEP or SIMPLE plan in 2015?

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Educate your kids about tax filing

According to a recent survey conducted on behalf of a consumer finance information service, nearly 80% of 18-34 year-olds have concerns about filing income tax returns.

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Hiring workers can bring tax breaks

The Work Opportunity Tax Credit, known as WOTC, can reduce your federal income tax liability dollar-for-dollar when you hire certain workers.

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New tax benefits available when claiming the research and development credit

If you conduct qualified research activities, you may be eligible to claim a federal income tax credit known as the “research and development” credit.

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