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The Value Report - Machen McChesney Business Advisory Insights

At Machen McChesney, we are committed to Returning Value to you through our monthly e-newsletter, The Value Report.

Here you'll find regular tips to help with your business and personal finances, as well as strategies to grow and more efficiently run your organization.  


Table of Content

  1. The Election to Apply the Research Tax Credit Against Payroll Taxes
  2. Significant Change to the Treatment of R&E Expenditure Under Section 174 Now in Effect
  3. Data Privacy in 2022: What You Need to Know
  4. Does Your Business Barter?
  5. Establish a Tax-Favored Retirement Plan
  6. The Rise of Electric Vehicles
  7. Taking The Opposite Approach: Accelerate Taxable Income and Defer Deductions
  8. 10 Considerations for Claiming PPP Loan Forgiveness and the ERC Tax Credit
  9. What's New at Machen McChesney

The Election to Apply the Research Tax Credit Against Payroll Taxes

Tax Credit - 504572064-1

The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to eligible businesses. Claiming the credit involves complex calculations, which we can take care of for you. But in addition to the credit itself, be aware that the credit also has two features that are especially favorable to small businesses Continue reading.


Significant Change to the Treatment of R&E Expenditure Under Section 174 Now in Effect

Research-517419425-1

As 2022 kicks off and tax legislation continues to be stalled in Congress, the amendment to Internal Revenue Code (IRC) Section 174 was originally introduced by the 2017 tax reform legislation, the Tax Cuts and Jobs Act (TCJA), is now in effect. Continue reading.


Data Privacy in 2022: What You Need to Know

Data Privacy-1175894368-1

Millions of people are unaware of how their personal data is being collected, used, or shared in our increasingly digital society. As a business, it’s more important than ever to have a data privacy strategy to protect customers and employees and remain compliant with applicable regulations. Continue reading.


Does Your Business Barter?

Barter 1325859520-1

Here are some facts you should know.

In today’s economy, many small businesses are strapped for cash. They may find it beneficial to barter or trade for goods and services instead of paying cash for them. Bartering is the oldest form of trade, and the internet has made it easier to engage with other businesses. But if your business gets involved in bartering, be aware that the fair market value of goods that you receive in bartering is taxable income. And if you exchange services with another business, the transaction results in taxable income for both parties. Continue reading   


Establish a Tax-Favored Retirement Plan

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If your business doesn’t already have a retirement plan, now might be a good time to take the plunge. Current retirement plan rules allow for significant tax-deductible contributions. Continue reading


The Rise of Electric Vehicles

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Convergence of the Industry

The automotive industry is experiencing a convergence of disruptions unlike any seen since 1910. Autonomous, connectivity, electrification, mobility, and subscription business models are reshaping the automotive industry and creating a frenzy of activity. Continue reading. 


Taking The Opposite Approach: Accelerate Taxable Income and Defer Deductions

Taxable Income 1222849625-1

Typically, businesses want to delay the recognition of taxable income into future years and accelerate deductions into the current year. But when is it prudent to do the opposite? And why would you want to? Continue reading.


10 Considerations for Claiming PPP Loan Forgiveness and the ERC Tax Credit

PPP 2021 1273529650-1

Business owners need to make choices on their 2021 taxes regarding the Paycheck Protection Program and the Employee Retention Credit. Both were enacted to help businesses stay in operation during the lockdowns caused by the COVID-19 pandemic. Continue reading.


What's New at Machen McChesney?

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Sponsorships, new hires, announcements
Continue reading


We hope you found value in The Value Report you've received this month. We look forward to finding even more ways to Return Value to you in the future. 

Please feel free to visit our website or visit our blog at any time during the month to interact with additional valuable resources and helpful information.
 
If you have any questions on the topics above, please feel free to send us a message.
 
Thanks,
Machen McChesney 
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Montgomery: 1761 Taliaferro Trail | Montgomery AL 36117

www.machenmcchesney.com

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