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481 a Adjustment For Changes in Accounting Methods
Section 481 a adjustment for depreciation is required for any taxpayer who has changed their accounting method or makes or revokes certain late elections.
R&D Payroll Tax Credit
The Research and Development payroll tax credit, also known as the R&D payroll tax credit is a tax incentive designed for qualified businesses to offset their payroll tax. It is designed for new companies that perform research and technology development activities to be able to apply up to $250,000 of research credit against payroll tax liability.
Is Your A&E Firm Benefiting from R&D Tax Credits?
A&E firms, whether developing a sky-rise office building in Manhattan, an advanced suspension bridge or a suburban shopping mall, are faced with a host of technical challenges that require their engineers and technical leaders to devise solutions that are unique, viable and cost effective…..
Innovation Starts with One Small Step
Fifty years ago, the world was riveted to their television sets to see history in the making when the Apollo 11 crew touched down on the moon. Where would technology be today without the ingenuity and courage of the NASA space program?
Pennsylvania Introduces R&D Tax Credit Electronic Application
As part of its “Government that Works” program, the Pennsylvania Department of Revenue recently introduced a new online-based application process for taxpayers who apply for the state’s Research and Development tax credit. All Pennsylvania R&D tax credit applications must be submitted through the new online platform.
Wondering How to Offset Payroll Tax with R&D Tax Credits?
The Protecting Americans from Tax Hikes Act of 2015 (The PATH Act) created an opportunity for qualified small businesses to offset all or a portion of their contribution to payroll tax using federal R&D tax credits for up to five years. Business owners and executives interested in saving valuable payroll tax dollars need to understand the following key points.
Impact of the Tax Cuts and Jobs Act on R&D Tax Credits
The largest and most complex tax cut in U.S. history, the Tax Cuts and Jobs Act (TCJA), has left American business owners wondering how the changes to the tax code will affect them and their businesses. In the coming months, business executives and their tax preparers will be scurrying to reformulate their tax strategies and business plans ahead of year’s end.
R&D Tax Credit: Qualifying and Non-Qualifying Research Activities
Are you taking full advantage of the Research and Development (R&D) Tax Credit? The R&D tax credit can provide huge tax savings regarding the expenses incurred for qualifying activities. So, what exactly are qualifying research activities?
8 Things to Consider When Choosing an R&D Tax Credit Practitioner
The Tax Cuts and Jobs Act that was recently passed by Congress raised a lot of concerns and questions about the future of the R&D tax credit. You may be asking yourself, “How do I choose a qualified R&D tax credit specialist who can assist my business identify activities and expenses that qualify for the credit, and maximize the cash benefit?”
Food Manufacturers Benefit from R&D Tax Incentives
During the holiday season, many of us end up at a holiday party or two, celebrating with friends, family, and colleagues. It so happens, I was at a holiday gathering recently where a business colleague and I were sampling sweets while discussing corporate taxes when she asked, “Do cookie makers qualify for R&D tax credits?”
Substantial Tax Credits for Construction & Engineering Firms
It may come as a surprise to some industry professionals that many construction and engineering firms invest significant amounts of money in research and development, yet never claim tax credits for it. The fact of the matter is that there are substantial tax incentives available in much of the typical work conducted by construction and engineering companies.
R&D Tax Credits Remain Strong Despite Tax Reform
Since federal research and development tax credits were first introduced into law back in 1981, they have been recognized as a key factor in driving US innovation across a wide range of industries. As Congress begins to take up the challenge of tax reform in late 2017, I’m regularly quizzed about the future of the R&D tax credit.
Nine Myths About the R&D Tax Credit
Surprisingly, fewer than 5% of America’s middle market manufacturers and technology companies claim the R&D credit, leaving substantial tax dollars on the table that otherwise could be reinvested in their businesses.
R&D Tax Incentives for the Precast Concrete Industry
Companies involved in the Precast Concrete Industry engage in research and development to devise advanced concrete products and fabrication processes that would enable faster and lower-cost construction of infrastructure and commercial properties.
Are You Missing Out on R&D Tax Credits?
Presently, U.S. manufacturers and technology companies in the know are leveraging R&D tax credits to the tune of $15 billion a year, yet evidence shows that most eligible businesses are leaving substantial tax dollars on the table that otherwise could be reinvested in their businesses. So why are so few companies claiming R&D tax credits? …
New Opportunity for Life Sciences & Biotech Companies to Benefit from the R&D Tax Credit
It’s common knowledge that Life Science companies spend millions of dollars on research activities but did you know that many of these companies don’t take the R&D tax credit? Why is that? Because, while these innovative companies have large operating expenses they have little, if any, revenue creating net operating loss (NOL) deductions. The federal …
R&D Tax Credits Now Provide Payroll Tax Relief
Without question, one of the major highlights of the recently enacted PATH Act of 2015 is the provision making the R&D Tax Credit permanent. The permanency of the credit provides the owners and leaders of manufacturing and technology companies the fiscal certainty necessary to make important decisions concerning their investments in innovation without heed of …
