Bill addresses deduction of R&E expenses

Before the Tax Cuts and Jobs Act limited the deductibility of research and experimentation (R&E) expenses in 2022, businesses could deduct them in the year they were incurred. Currently, R&E expenses must be capitalized and amortized over five years for domestic activities and 15 years for foreign activities. Some companies complain that the current law […]

From New Grads to Seasoned Pros – We’re Hiring Accountants!

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📣 Public Accounting Opportunities – Build Your Future With Us

📣 Public Accounting Opportunities – Build Your Future With UsWhether you’re just starting your career or bringing years of experience to the table, we want to meet you. Our firm is growing, and we’re looking for entry-level and experienced accountants who are ready to thrive in a collaborative, client-focused environment. 🔍 What We’re Looking For: […]

Fees on electric cars in the House Bill

The U.S. House version of The One, Big, Beautiful Bill contains a provision that may surprise electric and hybrid vehicle owners. If enacted into law, the bill would impose an annual fee on clean energy cars: initially $250 for EVs and $100 for hybrids, with yearly rates pegged to inflation. Republican lawmakers say the fees […]

Celebrating Freedom – Happy 4th of July from Van de Ven CPAs 🎆

The 4th of July is more than a celebration—it’s a moment to reflect on the courage, vision, and values that shaped our nation. It reminds us of the freedom and opportunity we’re privileged to enjoy and the responsibility we share to uphold those ideals every day. At Van de Ven CPAs, these principles inspire our […]

Missouri’s Billy Long takes the helm at the IRS

Billy Long was sworn in as the 51st commissioner of the IRS on June 16. He’ll finish out the term of his predecessor, Danny Werfel, who resigned as IRS commissioner on Jan. 20, 2025. Long served as a U.S. representative for Missouri’s 7th Congressional District from 2011 to 2023. He said he plans to develop […]

EV buyers, beware! House GOP bill ends clean vehicle tax credits after 2025

The U.S. House of Representatives has passed its budget reconciliation bill, dubbed The One, Big, Beautiful Bill. Among other things, the sweeping bill would eliminate clean vehicle credits by the end of 2025 in most cases. If you’ve been pondering the purchase of a new or used electric vehicle (EV), you’ll want to buy sooner rather […]

What happens to Clean Energy in the Tax Bill?

Republican lawmakers are proposing to make cuts to several clean energy initiatives created or enhanced by the Inflation Reduction Act. The U.S. House’s version of The One, Big, Beautiful Bill repeals the $7,500 credit for new clean vehicles and the $4,000 credit for used clean vehicles after Dec. 31, 2025. Clean vehicles include qualified plug-in […]

Avoid this tax trap

Have you recently changed jobs? You may want to roll over funds in your former employer’s 401(k) plan to an IRA. But there’s a tax trap for the unwary. You can avoid it by arranging for a direct trustee-to-trustee transfer from the plan to your IRA. Why a direct transfer? If you receive 401(k) funds […]