The North Bay Business Journal (NBBJ) asks Bay Area accounting leaders to weigh in on how tax laws are changing – or not.
In the news article, BPM Tax Partner James Elliott responds on the Inflation Reduction Act, “There are some important, smaller provisions in the [Inflation Reduction] Act, like the extension of the Renewable Energy tax incentives through 2034 (now called Residential Clean Energy Credit). The doubling of the R&D credit for small taxpayers will also be a great opportunity for our clients. The biggest thing, however, is what’s not included in the Act, which is no direct changes to the corporate or individual income tax rates.”
If you have additional questions about how BPM’s tax team can help you navigate recent tax rule changes, please contact us.