Since 2004, governments, businesses, and individuals have spent the month focused on increasing awareness about cybersecurity. This is the perfect time to review your status and start planning projects for 2023.

The talented IT Risk and Cybersecurity team at Clark Schaefer Consulting are here to supplement your existing capacity, assess your security posture, or assist with regulatory requirements to ensure you can keep systems secure, protect sensitive data, and build trust with your customers.

Time is running out to make the most of TCJA’s 100% bonus depreciation deduction

The Tax Cuts & Jobs Act expanded the bonus depreciation deduction to 100% in the year qualified property is placed in service through the end of 2022. Learn more about bonus depreciation and how a cost segregation study can maximize your savings from CSH Cost Segregation Expert, Caleb Macaluso.

While the expanded Clean Vehicle Credit seems promising, questions have arisen about just how immediate its impact will be. Learn more from CSH tax expert David Johnson.

Clean Vehicle Credit Comes with CaveatsI

IRS Notice 2022-36 to Reduce and Eliminate Certain Penalties

The IRS is providing broad-based penalty relief to most taxpayers who filed certain 2019 and/or 2020 tax returns late due to the Covid-19 pandemic. Read our article to find out whether you might qualify.

Inflation Reduction Act: New Taxes Are Part of the Equation

Last week, President Biden signed the Inflation Reduction Act into law. Most Americans will eventually be affected by the new legislation, which aims to reduce the federal deficit by $90 billion in the next 10 years. CSH's Justin Vanderglas provides an overview of the new provisions related to climate change, health care, and—significantly—taxes.

Expanded semiconductor production to benefit many industries

President Biden recently signed The Creating Helpful Incentives to Produce Semiconductors for America Act. Part of the CHIPS and Science Act of 2022, the bill provides $52 million for tax incentives designed to increase semiconductor production in the US. Read our article for all the details.

The Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS Act) was recently passed by Congress as part of the CHIPS and Science Act of 2022 and signed into law by President Biden on August 9, 2022. Among other things, the $52 billion package provides generous tax incentives to increase domestic production of semiconductors, also known as chips.

Benchmark your HR function to chart a path to improvement

Even though last year's tax filing may be in the rearview mirror, it’s not too early to think about tax preparation for this year. One of the biggest impediments to completing individual and corporate tax returns is lack of proper documentation and recordkeeping—here’s what you should be sure to hang on to, and other tax tips to help you through the year.

A clean bill of health for your company’s HR function  

An HR audit can review your company’s current policies, procedures, documentation, and internal systems with the goal of highlighting areas that need improvement to meet current compliance standards. Download our HR audit checklist and see what’s involved.

Cost segregation allows property owners to frontload depreciation and take tax deductions earlier

This straightforward process classifies your property into categories with different depreciation rates. For example, building components like carpet, lighting, and cabinetry can be classified into 5-, 7- or 15-year categories. In contrast, a commercial building depreciates over 39 years.