The research tax credit provides companies a competitive advantage and encourages growth, yet there remain many companies who are failing to take advantage of the credit due to some common misconceptions. Below are some of those misconceptions and an explanation [...]

Per a tweet on the morning of March 20, 2020, the Treasurer secretary announced that the April 15th filing deadline would be extended 90 days to July 15. Steven Mnuchin’s tweet said “At President Donald Trump’s direction, we are moving [...]

In December, the House of Representatives introduced a 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 [...]

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 [...]

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 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 [...]

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 [...]

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 [...]

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” [...]

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 [...]