McGuire on the Wire

In this episode of McGuire on the Wire, Dave McGuire explains updates under the CARES Act to net operating loss (NOL) carrybacks and related tax planning opportunities. The CARES Act provides a five-year NOL carryback, which can help most taxpayers access significant refunds. Considering a cost segregation study and accessing additional depreciation deductions is especially important in an election year, as President-Elect Joe Biden may attempt tax policy changes in 2021. Dave also explains additional provisions from the IRS which could provide tax relief.

On the latest McGuire on the Wire episode, Dave McGuire talks about taxable grants and the laws that affect them. Dave specifically highlights how taxable grants have changed under the Tax Cuts and Jobs Act of 2017. Taxable grants can come from the government, utilities, or in other, similar forms. It's important for businesses using these tools to consider the implications of how grants may impact taxable income.

David Seibel returns to McGuire on the Wire to explain the background, opportunities, and potential challenges of the Research and Development Tax Credit. This podcast serves as a great introduction to R&D and which kinds of businesses are eligible. Listen in to learn more about the R&D Tax Credit and how it may benefit clients exploring new business products or processes.

Sierra Enlow of our Credits and Incentives practice line joins Dave this week to discuss the economic incentives landscape in Kentucky and when it's time to hire a consultant to walk through these opportunities.

Dave and Justin Gephart discuss the changes to the depreciation law, how each piece of legislation has made Cost Segregation more relevant and created more opportunities for tax planning purposes and updates from the CARES Act. 

On this week's episode Dave discusses what a 1031 Exchange is, how they work and changes to 1031 that occurred after the Tax Cuts and Jobs Act of 2017.

A drive to entice multinationals to move overseas manufacturing operations to the United States has gained traction with both parties on Capitol Hill as they frame competing plans for new tax incentives to include in possible virus relief legislation. On Episode 18 of McGuire on the Wire, Dave and Sean provides insight on the incentives and how they could trigger other taxable events.

Many aspects of business changed over the last three months. Between shelter in place orders, a slowing economy, and regulatory changes under the Coronavirus Aid, Relief and Economic Security Act (CARES ACT), we will feel the effects for months. At first glance, certain areas of tax law, such as the R&D Tax Credit, do not change considerably with these regulations. On Episode 17 of McGuire on the Wire, Dave provides insight on the Paycheck Protection Program (PPP) and how the R&D Tax Credit could be affected.