Blog

4 Steps To Qualify For R&D Tax Credits

4 Steps To Qualify For R&D Tax Credits

Many people think that R&D tax credits only apply to companies that require lab coats to be worn at the office. But the definition has evolved greatly over the years to include not only companies that manufacture and develop software,but companies in various

read more
DOES THE RESEARCH CREDIT PROVIDE A DOLLAR FOR DOLLAR CASH SAVINGS OF FEDERAL INCOME TAX?

DOES THE RESEARCH CREDIT PROVIDE A DOLLAR FOR DOLLAR CASH SAVINGS OF FEDERAL INCOME TAX?

We have seen innovation making a real impact on our society as a whole during this unique time. While there are still people worried about the economy and their businesses, it’s been wonderful to see the Manufacturing industry shift their processes and product lines to fill the urgent need for consumers, healthcare providers, and emergency responders during the Coronavirus crisis. I see these folks as heroes.

read more
WHAT RESEARCH ACTIVITIES DO NOT QUALIFY FOR THE R&D CREDIT?

WHAT RESEARCH ACTIVITIES DO NOT QUALIFY FOR THE R&D CREDIT?

We have seen innovation making a real impact on our society as a whole during this unique time. While there are still people worried about the economy and their businesses, it’s been wonderful to see the Manufacturing industry shift their processes and product lines to fill the urgent need for consumers, healthcare providers, and emergency responders during the Coronavirus crisis. I see these folks as heroes.

read more
WHAT HAPPENS TO UNUSED R&D CREDITS?

WHAT HAPPENS TO UNUSED R&D CREDITS?

We have seen innovation making a real impact on our society as a whole during this unique time. While there are still people worried about the economy and their businesses, it’s been wonderful to see the Manufacturing industry shift their processes and product lines to fill the urgent need for consumers, healthcare providers, and emergency responders during the Coronavirus crisis. I see these folks as heroes.

read more
IS THERE A LIMIT TO THE AMOUNT OF THE RESEARCH CREDIT THAT CAN BE CLAIMED?

IS THERE A LIMIT TO THE AMOUNT OF THE RESEARCH CREDIT THAT CAN BE CLAIMED?

We have seen innovation making a real impact on our society as a whole during this unique time. While there are still people worried about the economy and their businesses, it’s been wonderful to see the Manufacturing industry shift their processes and product lines to fill the urgent need for consumers, healthcare providers, and emergency responders during the Coronavirus crisis. I see these folks as heroes.

read more
How mortgage banking qualifies for the r&d tax credit

How mortgage banking qualifies for the r&d tax credit

With the extended tax return filing deadlines upon us, soon it will be planning season and time to flex your tax consulting skills. Certainly you wouldn’t mind another weapon in your arsenal. That’s where R&D credits for software applications come in. By software applications, I don’t mean creating your own internal A/P system or accounting package, although under the right circumstances, that can definitely qualify. I mean the development of an application for the company’s use to reach their clients, connect with their suppliers, improve the customer experience, bring in external data used in their business, streamline their operations, go to market in a new way, or deliver a product or service differently.

read more
Is the R&D Credit a refundable credit?

Is the R&D Credit a refundable credit?

The R&D Tax Credit is not refundable. If you don’t owe income tax or the credit is worth more than what you owe, you won’t receive a check from the IRS. Most businesses will use the 20-year carryforward to apply their unused credit to future years’ taxes. Eligible small businesses can also opt to apply the credit towards their payroll taxes.

read more