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Three Key Tax Incentives for IT Consultants

This year, IT consultants are eligible for powerful tax incentives that can help fund their innovation efforts and keep their technical workers on staff. ....

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10 Tax Loopholes That Could Save You Thousands

10 Tax Loopholes That Could Save You Thousands
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Client Alert: Collaboration in Congress: The Road to Finally Passing an End-of-Year COVID-Relief Bill | Shumaker, Loop & Kendrick, LLP

Late on Sunday, December 27
th, after initially raising concerns about the pandemic relief measure that had overwhelmingly passed Congress days before, President Trump signed the measure into law, ending a long political stalemate and beginning the process of sending financial relief to American families and small businesses, further aiding the American economy. As with the CARES Act enacted in March, this bill, the “Consolidated Appropriations Act, 2021,” passed the House and Senate overwhelmingly, on a bipartisan vote of 359-53 in the House, followed swiftly by a 92-6 vote in the Senate.
1 With an official price tag of approximately $900 billion, it is the second largest stimulus measure ever enacted by Congress. ....

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A road already traveled

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Workers begin to clean up the debris and damage caused by a pro-Trump mob at the U.S. Capitol building. | Samuel Corum/Getty Images
THROWING SHADE The House
is readying articles of impeachment against President Donald Trump after rioters vandalized the Capitol in a real-world example of ....

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Failure to govern: The case of temporary tax subsidies

As this year winds down, lobbyists are working to revive about three dozen due-to-die subsidies, including giveaways for alternative fuels, two special types of vehicles, new solar investments, a tuna cannery in American Samoa, and certain coal owned by American Indian tribes, among others.
In most cases, the tax subsidies don’t even work as intended.
For example, a tax credit to encourage hiring of disadvantaged workers has been repeatedly shown to have no sustained effect on wages or employment. In a survey of 60 businesses that claim the credit, just one firm said the tax credit affected hiring decisions. Yet, between 1996 and today, the “temporary” Work Opportunity Tax Credit has been reauthorized 14 times at a cost of tens of billions of dollars. ....

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