R&D Tax Credit News
Companies Think Optimizing Their R&D Tax Credit Isn’t Worth Their Time. Here’s Why They’re Wrong.
Recently, I was talking to a company that was using an accounting firm to assist with their research tax credit. We went back and forth on the differences between using engineers and accountants to calculate the credit (we’re fans of [...]
Wisconsin Issues Proposed Guidance on Refundable Research Credit
A favorable change in the Wisconsin research credit was passed for tax years beginning on or after January 1, 2018. The law change allows a portion of the credit to qualify as refundable. This helps Wisconsin companies benefit from the [...]
Why the R&D Tax Credit Requires Expert Analysis
Why the R&D Tax Credit Requires Expert Analysis How often have you been in a situation where you need something fixed that either you don’t know how or don’t have the time to fix? If there’s a plumbing issue, you’ll [...]
Illinois Extends R&D Tax Credit and Creates New Apprenticeship Credit
In August, Illinois Governor J.B. Pritzker signed SB 1591 extending the Illinois R&D tax credit for an additional 5 years, through 2026. The current R&D tax credit was due to expire at the end of 2021. Since the credit was [...]
How to Increase Profits with the R&D Credit
You developed your technology, acquired new customers, delivered outstanding solutions and received a nice reward for your efforts. Still, you’re not happy with how much money is left after you pay your employees, contractors and other business expenses. You embarked [...]
The Power of a Tax Credit
Companies are always looking to maximize the net proceeds from the business. Once the total income has been determined, there are two main ways companies can reduce their tax burden: deductions and credits. A deduction is an “above the line” [...]
New House Bill Would Undo Unfavorable 2017 Change to R&D Expensing
A new House bill (H.R. 4549) introduced on September 29, 2019 is proposed to undo some major changes to how R&D expenses are treated. The new bill would enable companies to continue expensing R&D expenditures in the period during which [...]
How To Get Indiana To Pay Your Payroll Tax For You!
Indiana’s Economic Development Corporation has a mission to help companies invest and grow within the state. There is a long list of valuable incentives offered by the IEDC. Among the most powerful and broadly beneficial of these incentives is the [...]
Senate’s New Research Credit Bill Could Help Start-ups Recover Higher Cash Returns
In late July, the Senate proposed a bipartisan bill to boost the research credit for new and small businesses. The bill, Research and Development Tax Credit Expansion Act of 2019, would potentially impact taxpayers who are eligible to offset their payroll [...]
Documenting the Research Tax Credit Doesn’t Need to be Formal (or Scary)
Both the Internal Revenue Service (IRS) and state Departments of Revenue (DoRs) are happy to give out the research tax credits. However, they also want to make sure that they give out the right amounts. That means checking the filer’s [...]
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