The Research Credit is Back for Good - New Law Permanently Extends Tax Break

Like Arnold Schwarzenegger’s character in The Terminator, the research credit is back. This valuable tax break, which had officially expired and been restored more than a dozen times in the past, was extended again by the Protecting Americans from Tax Hikes (PATH) Act, retroactive to the beginning of 2015. What’s more, the credit has been made permanent, with certain modifications, by the new PATH Act.

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Four Basic Baskets to Interest Expense - Divide Interest into these Categories

Are interest expenses deductible? The answer is a complicated “yes and no.” Essentially, it depends on the type of interest expense incurred. Although there are technically other types, interest expenses can be lumped into four main baskets for tax purposes.

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Comparing Cash Flow to Business Profit

Don’t be fooled into thinking that cash flow and profit are the same thing. In fact, there are major differences. Cash flow is dynamic and moves daily, while profit is a snapshot of income and expenses at a specific point in time. Understanding this comparison, and acting upon it, can be significant for a small-business operation.

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Tabulate Results for a Sales Tax Deduction - Make tax election for renewed tax break

In this election year, one of the most important decisions will be made on your 2015 tax return. You must determine whether it is better to deduct state and local income taxes paid last year or to claim a deduction for state and local sales taxes. What’s at stake? Tax dollars.

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Estate-Planning Ideas for a Blended Family - Modern Techniques for Modern Times

In this day and age, it is not unusual for a spouse, children and grandchildren from a second or even third marriage to form a so-called blended family. But these additions to the clan can complicate estate planning. Keeping that in mind, the following tools may be useful for blended families:

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