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The R&D 4-Part Test: How to Determine Eligibility for the Research & Development Tax Credit

Source Advisors May 7, 2026

The Research & Development (R&D) Tax Credit is one of the most valuable tax incentives available to businesses investing in innovation. However, not every project qualifies. To determine eligibility, the IRS applies a framework known as the R&D 4-Part Test under Internal Revenue Code (IRC) Section 41. Understanding how this test works is essential for identifying qualifying activities, supporting documentation

R&D

The R&D 4-Part Test: How to Determine Eligibility for the Research & Development Tax Credit

Source Advisors May 7, 2026

washington business people working at table with laptop

Sales & Use Tax

What is a Reverse Sales & Use Tax Audit?

A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify and recover Sales & Use Tax overpayments as opposed to the traditional focus on underpayments in state audits. Whereas State initiated audits are aimed at detecting underpayments and assessing additional

Kamal Shah, CPA April 16, 2026

R&D

The R&D 4-Part Test: How to Determine Eligibility for the Research & Development Tax Credit

The Research & Development (R&D) Tax Credit is one of the most valuable tax incentives available to businesses investing in

Source Advisors May 7, 2026

Sales & Use Tax

What is a Reverse Sales & Use Tax Audit?

A Reverse Sales & Use Tax Audit (RSUTA) is a structured review of prior period purchase activity designed to identify

Kamal Shah, CPA April 16, 2026

Sales & Use Tax

What is Washington Business & Occupational (B&O) Tax?

Washington Business & Occupation (B&O) Tax is a tax imposed by the state of Washington on the privilege of doing

Jaclyn Harris January 14, 2026

R&D

The IRS 4-Part Test for R&D Tax Credits Explained

The R&D 4-Part Test Imagine the 4-part test as a sturdy bridge connecting your R&D activities to tax credit rewards.

Alex Pak March 1, 2024

4 Mistakes You Might Be Making on Your R&D Tax Credit Claim

Are you making the most of your R&D tax credit claim? Here are four common mistakes that businesses often make

Rachel Bishop, CPA February 13, 2024

stack of newspapers with news of source advisors

R&D

Should You Handle R&D Tax Credits Alone?

Deciding Whether to Manage R&D Tax Credits In-House Businesses often find themselves at a crossroads when it comes to claiming

Alex Pak January 2, 2024

R&D

Understanding the R&D Tax Credit and How To Claim It

Understanding the R&D Tax Credit The R&D tax credit is a valuable incentive provided by the government to encourage businesses

Rachel Bishop, CPA December 20, 2023

R&D

Changes in Wisconsin R&D Tax Credits

The Wisconsin R&D tax credit refundable portion will increase from 15% to 25% beginning on or after January 1, 2024.

Alex Pak December 7, 2023

R&D

Proposed Changes to R&D Tax Credits Form

The Internal Revenue Service (IRS) has released a preview of proposed changes to Form 6765, Credit for Increasing Research Activities.

Jordan Fazio November 12, 2023

man reviewing 481a adjustment papers with pen

R&D

IRC 481 (a) Adjustment For Changes in Accounting Methods

What is a 481(a) Adjustment? A change in method of accounting requires restatement of the tax accounts on the first day of the year of change as if the taxpayer had always used the new method of accounting. A mismatch between the old and new method of accounting will have

Deb Roth, CPA April 7, 2025

person using laptop for research and development

R&D

The Three Types of Research and Development

Research and Development (R&D) is a vital component of innovation and technological advancement that involves the creation of new knowledge and applications of that knowledge to develop new products, processes, or services. There are three primary types of R&D: 1. Basic Research Seeks to discover new facts or principles, often

Riz Malik October 1, 2024

Cost Segregation

Cost Seg

When Should a Cost Segregation Study be Performed?

There are several situations where a cost segregation study should be performed. A cost segregation study should be performed immediately

Raul Soto July 28, 2020

Cost Seg

Identifying a Quality Cost Segregation Study

What is Cost Segregation? Cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate

John Gail July 26, 2020

Cost Seg

Hotels and Cost Segregation

What is Cost Segregation? Cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate

John Gail July 26, 2020

Cost Seg

Does Cost Segregation Method Matter?

What is Cost Segregation? Cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate

Raul Soto July 26, 2020

Cost Seg

The Cost Segregation Process

Every firm has a unique methodology for their cost segregation study; however, the fundamental stages are often identical. This is

John Gail July 26, 2020

Benefits of a Cost Segregation Study

What is Cost Segregation? A cost segregation study might be thought of as an interest free loan that front-loads the

John Gail January 26, 2020

Cost Seg

Cost Segregation for Residential Real Estate  

Tailored Solutions for Residential Real Estate Owners  Several tax incentives could financially benefit owners of residential real estate. Cost segregation studies are a great financial strategy that helps property owners accelerate depreciation and can provide valuable data that supports tax-related initiatives throughout the property’s holding period. Apartment buildings or short-term

Raul Soto August 26, 2024

man calculating tangible property regulation study

Cost Seg

Tangible Property Regulation Studies

What is a TPR (Tangible Property Regulation) study? A Tangible Property Regulation (TPR) study is an analysis that examines a company’s compliance with the Tangible Property Regulations. In this context, tangible property refers to real property such as land and improvements to land (e.g., site improvements and buildings), as well

Greg Bryant April 26, 2024

Energy

45L

Navigating the Energy Star Certification Process for Homes

ENERGY STAR certified homes are not only energy efficient, but they also offer better comfort and play a crucial role

Imran Syed September 29, 2023

179D

R&D & Energy For Real Estate: Tax Accounting Methods

What Does the IRS Extending the R&D Tax Credit Claims Transition Period Mean? Construction and real estate firms often ask

Deb Roth, CPA November 15, 2021

45L

Qualified Leasehold Improvements

What is a Qualified Leasehold Improvement Property? Qualified vs. Non-Qualified Leasehold Improvements From 2001 through 2017, Qualified Leasehold Improvement Property (QLIP) were most improvements

Source Advisors August 2, 2019

45L

How Does a Tax Credit Work? Federal Tax Credits Explained

What are Federal Tax Credits? Tax season can be a daunting time, filled with forms, calculations, and the question: am I getting the most out of my tax return? One often overlooked benefit that can significantly impact your tax liability is tax credits. But how exactly do they work? Think

Matt McKinney March 11, 2024

179D

The IRA’s Impact on Your Real Estate Clients’ 2023 Tax Returns

The Inflation Reduction Act of 2022 brought changes to the §179D Energy Efficient Commercial Building Tax Deduction, a flagship federal tax incentive. Knowing how to navigate the updates is going to be important for CPAs this tax season. It started as the ‘Build Back Better’ bill, and in an eleventh-hour

Benjamin Kluwgant January 19, 2024

Sales & Use Tax

Refund of Tax Paid on Software Purchases

Refund of Tax Paid on Software Purchases by Companies Located Illinois, Massachusetts, New York, Pennsylvania, Washington or Utah The multiple

Kamal Shah, CPA March 13, 2024

Sales & Use Tax

Sales Tax Due Diligence in a Post Wayfair World

Over the past five years, sales tax awareness has increased amongst the private equity world as states have expanded their

Chris Vignone February 21, 2024

Sales & Use Tax

Utility Studies for Sales and Use Tax Exemptions

While specific exemptions vary from state to state most manufacturers are aware that all states offer some type of sales

Kamal Shah, CPA February 19, 2024

Sales & Use Tax

Different Types of Sales Tax Nexus for E-Commerce

For online businesses, navigating the ever-shifting sands of sales tax can feel like wandering through a labyrinth. One wrong turn,

Benjamin Kluwgant February 16, 2024

Sales Tax Nexus Explained

For businesses operating across state lines, understanding the concept of sales tax nexus is critical. It’s the determining factor on

Chris Vignone February 16, 2024

person working on r&d amortization paperwork on table

Sales & Use Tax

Source Advisors Tax Update: What to Expect in 2024

State and Local Tax: The Good, The Bad, and The Ugly The year 2024 is poised to usher in a

Chris Vignone January 24, 2024

Sales & Use Tax

How New Tariffs Impact Sales & Use Tax for Multi-State Businesses

What CPAs and Taxpayers Need to Know As new tariffs from the Trump administration take effect—particularly on imports like electronics, industrial goods, and apparel—many businesses and advisors are asking a key question: How do tariffs affect sales and use tax obligations for companies operating in multiple states? While tariffs themselves

Kamal Shah, CPA April 16, 2025

Sales & Use Tax

Maximizing Savings with the Multiple Points of Use (MPU) Exemption

The digital age has brought incredible advancements to businesses, but it has also complicated tax compliance, particularly when it comes to software purchases. One key opportunity for companies is the Multiple Points of Use (MPU) exemption, a little-known provision in sales and use tax laws. This exemption offers significant savings,

Kamal Shah, CPA January 29, 2025

LIFO

Can LIFO Still Provide Tax Savings in 2023?

While inflation is not at the high levels seen in the last couple of years, if you haven’t elected LIFO

Sara Richardson December 15, 2023

LIFO

How Inflation Drives LIFO

Understanding LIFO as an effective mitigation strategy for inflation is an economic challenge that significantly impacts a wide range of

Source Advisors April 13, 2021

LIFO

Last In, First Out (LIFO) Inventory Method: Pros and Cons

Inventory valuation is an accounting process used by companies to assign value to their inventory. It determines the cost of unsold goods at the close of an accounting period and plays a critical role in calculating the cost of goods sold (COGS) and the gross profit for the period. The

Sara Richardson May 30, 2024

LIFO

LIFO vs. FIFO: Choosing the Right Inventory Identification Method

Inventory identification is a crucial aspect of managing a company’s finances. It impacts your cost of goods sold (COGS), profitability, and ultimately, your tax burden. Two prominent inventory identification methods are LIFO (Last-In, First-Out) and FIFO (First-In, First-Out). Each method comes with its own set of advantages and disadvantages, and

Karen Koch, CPA, MT March 4, 2024