#TaxCredits Archives | Hutchinson and Bloodgood LLP

The new-and-improved credit for employer-provided child care

Small business owners: New tax rules may significantly reduce the cost of providing child care to your employees. But how much can you claim, and which arrangements qualify? Here’s what you need to know.

July 20, 2026

Offering a broad menu of employee benefits can help your business attract and retain skilled workers. One benefit that’s popular among employees with families is employer-provided child care. Although this option hasn’t been financially feasible for many small businesses, recent tax law changes may give you a reason to reconsider opening (or upgrading) a child […]

#EmployeeBenefits, #EmployeeRelations, #TaxCredits

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Tax Credits

FAQs about the research credit

The research credit isn’t just for labs or tech companies. Many businesses are missing out because they mistakenly assume they don’t qualify — or aren’t sure where to start. Learn how the credit works and what to consider.

April 6, 2026

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Companies that engage in research and development activities may qualify for a federal tax credit for some of those expenses. The credit is complicated to calculate, and not all research activities are eligible — but the tax savings can be significant. Here are answers to questions you might have about this potentially lucrative tax break. […]

#BusinessTaxPlanning, #ResearchAndDevelopment, #TaxCredits

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Tax Planning

Parents: Claim all the tax credits you’re entitled to

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February 25, 2026

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Raising a family comes with plenty of expenses, but it may also make you eligible for various tax breaks. Some of the most valuable are tax credits, because they reduce your tax liability dollar for dollar (unlike deductions, which only reduce the amount of income subject to tax). Here’s what you need to know. Child, […]

#ChildTaxCredit, #FamilyTaxSavings, #TaxCredits

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Tax Planning

Some small businesses can still benefit from the health care coverage credit

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February 11, 2026

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Tax credits reduce tax liability dollar-for-dollar. As a result, they can be more valuable than deductions, which reduce only the amount of income subject to tax. One tax credit that hasn’t been getting much attention lately but that can still be valuable for some small businesses is the credit for providing health insurance to employees. […]

#EmployerTaxCredit, #SmallBusinessTax, #TaxCredits

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Tax Credits, Tax Planning

Act soon: The OBBBA ends clean energy tax breaks

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August 6, 2025

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The newly enacted One, Big, Beautiful Bill Act (OBBBA) represents a major move by President Trump and congressional Republicans to roll back a number of clean energy tax incentives originally introduced or expanded under the Inflation Reduction Act (IRA). Below is a summary of the key individual tax credits that will soon be scaled back […]

#CleanEnergy, #EnergyTaxCredits, #TaxCredits, #TaxPlanning

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Tax Credits

Adoption tax credits: Easing the financial journey of parenthood

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December 18, 2024

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There are two tax breaks that help eligible parents offset the expenses of adopting a child. In 2025, adoptive parents may be able to claim a credit against their federal tax for up to $17,280 of “qualified adoption expenses” for each child. This is up from $16,810 in 2024. A tax credit is a dollar-for-dollar […]

#AdoptiveParents, #QualifiedAdoptionExpenses, #TaxCredits

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