On June 6, 2017, Senators Christopher Coons (D-DE) and Pat Roberts (R-KS) introduced a bipartisan bill that will help companies that design and manufacture in America. Ready for the catchy name? They are calling it the “Invent and Manufacture in America Act.” 

Topics: r&d tax credits

Fraud or “theft” has been occurring since the first days of humankind.  It is a reality that will never go away and no person or organization wants to be a victim, especially on their watch. There is no typical demographic for an individual who commits fraud.  Whether public, private or not-for-profit, every organization is at risk of potential fraud. 

Topics: Fraud awareness, NOT FOR PROFIT, EXAMINATIONS, BOARD MEMBER, Fraud Risks, Board of Directors

Beginning with the 2017 tax year, there are new filing requirements for foreign owned disregarded entities. For the first time, under regulations in sections 7701 and 6038A, any domestic corporations that are at least 25% owned by a foreign entity and foreign owned companies engaged in US trade or business will now be required to file form 5472 with the IRS.

Topics: tax year 2017, foreign owned disregarded entities, Form 5472

Businesses claimed over $11 billion in federal research & development tax credits in one year, according to recently released IRS statistics. These credits are available to businesses in a wide array of industries, and new rules make it easier than ever before to derive a benefit from this credit.  Are you paying too much in taxes by not considering R&D?

Topics: research and development, R&D, r&d tax credits, industry, manufacturing

Businesses claimed over $11 billion in federal research & development tax credits in one year, according to recently released IRS statistics. These credits are available to businesses in a wide array of industries, and new rules make it easier than ever before to derive a benefit from this credit.  Are you paying too much in taxes by not considering R&D?

Topics: research and development, R&D, r&d tax credits, industry, manufacturing

This week on WGRZ Channel 2, Bill Prohn, Managing Director of Dopkins Systems Consultants, appeared in a Consumer Alert feature on cybersecurity. Bill provided viewers with best practices on protecting both personal and business financial data from cyberattack.

Topics: cyberattack

How do you know how much of a charitable contribution you can deduct on your tax return?

You donate $300 to your favorite charity this past summer, but now it’s time to file your taxes, you can’t recall if it was $300 or $325. You’re in luck! The IRS requires that a charitable organization provide written documentation for contributions made throughout the year, above certain thresholds.

Here is what you as a donor and/or you as a charitable organization need to know regarding documenting a donation:

Topics: charitable deduction

Recently Bill Prohn, Managing Director of Dopkins Systems Consultants, testifed before the New York State Assembly Standing Committee regarding Cybersecurity issues impacting business. This hearing saught to explore the cybersecurity needs of banking institutions as well as to review State laws and regulations designed to protect against cyber threats.  

Topics: cyber security, testimony, banking, regulatory, data privacy, albany

There are several strategies that businesses should consider in order to maximize tax benefits while year-end planning for 2016.  Some of the strategies that should be considered involve the following tax topics:

Topics: tax, corporate tax,, dopkins tax, year end tax planning, Code Section 179, family owned business, Protecting Americans from Tax Hikes (PATH) Act, PATH Act, Strategic Planning, Research Credit