New IRA Act Bolsters R&D Tax Credit for Early-Stage Companies

South Carolina Startups Could Save an Extra $250,000 Per Year, up to $2.5MM This article originally appeared on the South Carolina Association of CPAs (SCACPAs) blog: https://www.scacpa.org/new-ira-act-bolsters-rd-tax-credit-for-early-stage-companies/ On August 16, 2022, President Biden signed the Inflation Reduction Act of 2022 (IRA). Within the new law was an enhanced provision to the Federal Research and Development (R&D) Tax Credit which doubles the [...]

By |2022-11-18T08:25:39-05:00November 18, 2022|Uncategorized|

Ohio Biotech Startups Could Soon Save Up To $2.5M on Payroll Taxes

New IRA Act Bolsters R&D Tax Credit; May Drive Taxpayers to Accelerate R&D and Job Creation Beginning on January 1, 2023, innovative startups will find themselves with an opportunity to save significantly more money on their federal payroll taxes. The favorable tax change stems from the Inflation Reduction Act (IRA) which was signed into law in August 2022. The Act [...]

By |2022-11-16T15:45:44-05:00November 16, 2022|Uncategorized|

Filing an R&D Tax Credit Claim on an Amended Return Just got More Complex

What CPAs need to know about the new IRS Mandate This article originally appeared in print in the SCACPAs Summer 2022 Edition of the South Carolina CPA Report. For over 40 years, the federal Research and Development (R&D) tax credit has served as a valuable tax savings tool for thousands of innovative U.S. businesses. But despite being around for decades, [...]

By |2022-10-27T16:13:44-04:00October 27, 2022|Uncategorized|

Northeast Ohio’s TCG, Duffy+Duffy and KIKO to hold Fall 2022 CPE Webinar Series

CPAs in OH, IN, KY, MI, PA, and SC to receive 4 Hours Free CPE October 24, 2022 – Northeast Ohio’s Tax Credits Group (TCG), Duffy+Duffy and KIKO Realtors, Auctioneers & Advisors have announced the dates for their annual Fall income tax reduction seminar series, where attendees will learn powerful tax planning tools and strategies to maximize credits and deductions [...]

By |2022-10-25T09:26:42-04:00October 24, 2022|Uncategorized|

National Manufacturing Day Aims to Educate Public on Rewarding Manufacturing Careers

The Research Tax Credit Can Further Help Manufacturers Attract and Retain Employees October 7, 2022 - Today, manufacturers located across the U.S. will celebrate “National Manufacturing Day.” Recognized on the first Friday of October, “National Manufacturing Day” has grown to become a month-long celebration of manufacturing seminars and events put on by various U.S. manufacturing associations and manufacturing companies. The [...]

By |2022-10-07T08:00:15-04:00October 7, 2022|Uncategorized|

New Inflation Reduction Act Bolsters R&D Tax Credit for Startups

IRA Act of 2022 Doubles Payroll Tax Offset Provision to $500K On August 16, 2022, President Biden signed into law the Inflation Reduction Act of 2022 (IRA). Contained within the law is an enhanced provision to the Federal Research and Development (R&D) Tax Credit that benefits startup companies. Under the new IRA Act, beginning after December 31, 2022, startups now [...]

By |2022-10-06T13:36:28-04:00October 6, 2022|Uncategorized|

TCG to Speak at PICPA Southwestern Chapter 25th Annual Tax Conference

R&D Session to Take Place Friday Nov. 15th at 12:25 P.M On November 15, 2019, Research & Development Tax Credit experts Tax Credits Group, (TCG) President Michael Krajcer and Managing Director Bethany Jones-Worner will speak on the topic of the R&D Tax Credit at the Pennsylvania Institute of Certified Public Accounts (PICPA) Southwestern Chapter 25th Annual Tax Conference. This conference […]

By |2022-09-01T10:40:38-04:00November 10, 2019|Uncategorized|