Taxpayers Rejoice! Proposed R&D Credit Legislation Presents new Opportunity for Small to Mid-Size Businesses
A permanent R&D Tax Credit offsetting AMT and Payroll Taxes is in the works Cleveland – Dec. 17, 2015 — As introduced this Wednesday, the Consolidated Appropriations Act of 2016 contains a provision for a permanent research and development tax credit. In addition, new rules would allow taxpayers with gross receipts less than $50 million dollars to utilize the credit […]
Think you’re an R&D Tax Credit Expert? Take the Quiz!
Test your knowledge with this 10 Question T or F Quiz The R&D Tax credit is one of the most complex areas of the tax code. In fact, the IRS labeled it the most commonly reported “uncertain tax position” in 2010, 2011, 2012 and 2013. Because of these complexities, taxpayers (and even experienced CPAs) are often unsure about the qualifications necessary […]
Calling all Patents, Awards and Especially Product Failures….
Plus More Telltale Signs Your Company is Eligible for the R&D Tax Credit So you’ve heard about the Research & Development Tax Credit but you’re unsure whether your work qualifies. Sound familiar? If so, don’t worry; you’re in good company. The credit can be complex, and the requirements to claim it can be confusing. That’s probably why so many businesses […]
Think it’s too late to claim the R&D Credit on your 2014 Return?
Learn about the opportunity to file an amended return to claim credits for the previous 3 tax years 9/15 & 10/15 have come and gone, and whether you were unaware that your business qualified for the R&D credit at the time of your filing, or you simply could not gather the required financial data and project documentation timely, a credit […]