Federal Tax Compliance & Advisory

Federal Tax

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Tax Services

Federal tax provisions provide your business with many opportunities, from energy incentives to work opportunity tax credits. But taking advantage of these federal tax options can be difficult, as their regulations and qualifications are subject to change.

With CBIZ on your side, you are kept up-to-date and compliant with the federal tax requirements and incentives that help control your costs. Our federal tax specialists work closely with you to identify and implement strategies that bring you the maximum tax benefit while considering the full spectrum of federal tax credits and opportunities available. You can rest assured that we will be there with you every step of the way to help your business optimize its tax position and achieve its goals and objectives.

Federal Tax Solutions

  • Accounting for Income Taxes ASC 740 Outsourcing or Co-Sourcing: Whether you’re a publicly or privately held company, our services will assist with ASC 740 financial reporting regulations.
  • Accounting Methods Review: A review of your accounting methods can help identify alternative methods to minimize your income tax burden.
  • Cost Segregation Studies: You can significantly accelerate depreciation deductions into earlier years of a real estate project through cost segregation.
  • Energy Incentives: New construction and existing buildings may qualify for tax deductions under Section 179D Energy Efficient Building Deductions.
  • Federal Work Opportunity Tax Credit: Take advantage of opportunities for tax credits for hiring people from certain target demographics.
  • Qualified Opportunity Zones: Meet compliance requirements and obtain a strategy on how to best capitalize on the opportunities in this program.
  • M&A Tax Planning: Identify tax consequences of a transaction through comprehensive tax due diligence services.
  • Research & Development Tax Credits: R&D tax credits may generate tax reductions for the current tax year and qualify for cash refunds from previous tax years.
  • Revenue Recognition: If you have advance payments or deferred revenue in the liability section of your balance sheet, you may be eligible to defer your cash received.
  • Section 382: Use of Net Operating Losses: If you qualify for the Section 382 limitation, we can help ensure you claim the correct amount of net operating losses on your tax return.
  • Small Business Stock Gain Exclusion: Optimize your use of the Section 1202 qualified small business tock gain exclusion with the help of our experienced team.
  • Tangible Property Regulations: Stay compliant with the updated regulations on the capitalization and deduction of costs incurred to acquire, maintain, repair and/or replace tangible property.
  • Transaction Cost Analysis: Ensure you have adequately applied federal tax code to transaction costs with our transaction cost analysis services.

The 2024 Dirty Dozen list is full of taxpayer warnings, most of which alert taxpayers to multiple types of scams attempting to steal taxpayers’ money or falsely lowering taxes, including suspicious online advice to charitable remainder annuity trusts and fake charities exploiting taxpayer generosity.

The Green Book, a document detailing the president’s revenue proposals, encompasses various areas of tax policy that the Biden Administration believes will create a more equitable and efficient tax system overall. Remember that the Green Book represents the president’s “wish list” for tax policy, while Congress must draft and pass any associated legislation.

Here are three initial steps to get started on your businesssuccession journey.

Bill Smith

Managing Director, National Tax Office

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