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Inflation Reduction Act Doubles R&D Credit Payroll Tax Offset for Qualified Small Businesses

The Inflation Reduction Act (H.R. 5376), which President Biden signed into law on August 16, 2022, doubles the federal research and development (R&D) credit payroll tax offset for qualified small businesses. Under prior law, small business startups were permitted to use their qualified R&D...
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Don’t forget income taxes when planning your estate

As a result of the current estate tax exemption amount ($12.06 million in 2022), many estates no longer need to be concerned with federal estate tax....
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Separating your business from its real estate

Does your business need real estate to conduct operations? Or does it otherwise hold property and put the title in the name of the business? You...
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2022 Q4 tax calendar: Key deadlines for businesses and other employers

Here are some of the key tax-related deadlines affecting businesses and other employers during the fourth quarter of 2022. Keep in mind that this list isn’t...
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Year-end tax planning ideas for your small business

Now that Labor Day has passed, it’s a good time to think about making moves that may help lower your small business taxes for this year and next. The standard year-end approach of deferring income and accelerating deductions to minimize taxes will likely produce...
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Hancock Askew & Co. is Excited to Announce the Appointment of Angela Krebs as Chief Operations Officer and the Selection of a Partner-Led Executive Committee

Savannah, GA (September 26, 2022) – Hancock Askew & Co., LLP, a full-service tax, audit, accounting and advisory firm is excited to announce that Angela Krebs...
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Hancock Askew & Co. is Excited to Announce, John Lowell, Director of Risk Advisory has Joined the Firm

Miami, FL (August 31, 2022) – Hancock Askew & Co., LLP (HAC), a full-service audit, tax, accounting and advisory firm is proud to announce the hire...
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IRS provides broad penalty relief for some 2019, 2020 returns

The IRS on August 23, 2022, announced it will grant automatic penalty relief for late-file penalties imposed with respect to certain returns required to be filed...
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Why an LLC might be the best choice of entity for your business

The business entity you choose can affect your taxes, your personal liability and other issues. A limited liability company (LLC) is somewhat of a hybrid entity...
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Home sweet home: Do you qualify for office deductions?

Home sweet home: Do you qualify for office deductions? If you’re a business owner working from home or an entrepreneur with a home-based side gig, you...
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