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What is the Research and Development Credit Specifically, the Research and Development tax credit is a federal credit that is available to businesses that have invested funds into innovation, research,...

What is Functional Expense Reporting Businesses typically categorize expenses based on the nature of those expenses. A “natural” expense reporting system might group expenses into categories like rent, utilities, payroll,...

Best practices for effective incident response planning To be well-prepared for any incident, it’s important to follow the steps below: Identify and prioritize critical data and assets: Knowing precisely what...

Due Dates for Tax Returns The deadline to file individual income tax returns or request an extension will be Monday, April 15, 2024 for most taxpayers. An extension will move...

What Is an Employee Stock Ownership Plan? Specifically, an ESOP is an employee benefit plan that allows businesses to sell off ownership shares of the company directly to employees. Typically,...

Potential consequences of improper data management Failure to manage your data effectively can lead to the following consequences, including missed opportunities, inefficiencies, and even business-ending events. Poor decision-making: Imagine navigating...