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Carried Interests Undergo Significant Tax Treatments

Beginning in November 2021, the IRS issued frequently asked questions to clarify compliance questions. According to the IRS, owner taxpayers (partnership investors) and passthrough entities need to comply with these final regulations when addressing their 2021 tax compliance reporting. The following are highlights of those compliance requirements.

Deciding Whether Contractors Can Claim R&D Benefits

Many incorrectly think that the R&D tax credit applies only to companies that actually employ scientists. If, however, you employ a range of machinists and engineers, for example, who are developing new systems and designs, then you may be entitled to this lucrative tax break. Learn more about this tax credit. 

Managing Tax Rules for Part-Time or Seasonal Help

Do you have questions about the tax treatment of payments for part-time and seasonal help? These employees are subject to the same rules that apply to all employees – with some twists. Click through for some help on tax rules regarding part-time and seasonal help.

What Taxes Do Businesses Have To Pay?

If you're running a business, you don't only have to worry about your own personal taxes. You have to concern yourself with your company's taxes as well. Click through for an introduction to business taxes.

Figuring Out Contractor Tax Breaks

Did you know that if you’re a contractor, you may have some tax breaks coming your way? But you have to know what they are! Click through to learn how you can work with us to get what’s coming to you.

Tax Deductions and Construction: What Can Be Written Off?

Construction companies can catch a break from the IRS. Click through to see what kinds of deductions they’re eligible for.

MHCS Construction/Real Estate
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West Des Moines, IA 50266
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer. The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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