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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

R&D

Michigan House Approves $100M in R&D Tax Credits

Michigan taxpayers might be able to claim the Research and Development (R&D) tax credit, reducing their income tax. HB 5100

Jordan Fazio October 19, 2023

R&D

Life After Little Sandy

Navigating the Murky Waters of Research Credits: The Impact of the Little Sandy Coal Ruling and IRS Audits In a

Lindsey Modlich September 1, 2023

R&D

IRS Extends R&D Tax Credit Claims Transition Period

What Does the IRS Extending the R&D Tax Credit Claims Transition Period Mean? The IRS extended the transition period for

Rachel Bishop, CPA June 19, 2023

How to Make Your R&D Tax Credit Defensible

Make Your R&D Tax Credit Defensible Claiming the R&D tax credit can potentially help your business offset increased cash flow.

Deb Roth, CPA June 15, 2023

R&D

6 Common Misconceptions About R&D Tax Credits

The Research & Development (R&D) tax credit can enable businesses to increase cash flow and savings, reduce the Federal income tax rate,

Deb Roth, CPA June 5, 2023

R&D

What Does the IRS Extending the R&D Tax Credit Claims Transition Period Mean?

The IRS extended the transition period for taxpayers to perfect their refund claims for R&D Tax Credits through January 10, 2024. Taxpayers

Deb Roth, CPA June 1, 2023

person using laptop for research and development

R&D

What is Research & Development?

Many industries invest in research and development to drive innovation and maintain a competitive edge within their respective markets. By investing in this credit, businesses can increase their cash flow and reduce their tax rate, thus opening opportunities to further invest in advancements within their industry. Some of the common

Deb Roth, CPA July 18, 2024

R&D tax credit challenges man walking wire above alligators

R&D

Common Challenges When Claiming R&D Tax Credits

The R&D tax credit is a governmental incentive designed to encourage research and development activities in the US. This credit offers a dollar-for-dollar reduction on federal taxes for qualified expenses related to developing new or improved products, processes, software, technique, formula, or invention. Although claiming this credit can offer considerable

Rachel Bishop, CPA July 11, 2024

Cost Segregation

Cost Seg

Cost Segregation for Short Term Rentals

As a short-term rental property owner, maximizing your tax savings is essential for the success of your investment. One effective strategy to achieve this is through cost segregation. Cost Segregation for Short Term Rental Owners Cost segregation is a tax-saving technique that allows you to accelerate the depreciation of certain

Patrick Esteban February 28, 2024

Cost Seg

The When and Why of Cost Segregation Studies

What are the Benefits of a Cost Segregation Study? There are a number of benefits associated with a Cost Segregation study and its various applications. To the extent you have taxable income, a study will help mitigate some or all of the tax liability for the current and possibly future

Patrick Esteban January 12, 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 in reducing carbon emissions. Achieving this certification can unlock various financing options, like the 45L Tax Deduction, making the tax credit a highly beneficial pursuit for homeowners. However, understanding and successfully

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 us: “How do we qualify for the R&D tax credit?” Our boilerplate answer is to review the 4-part test below to ensure you have a qualification marker that covers the

Deb Roth, CPA November 15, 2021

Sales & Use Tax

Sales & Use Tax

A CPA’s Basic Guide to SALT Requirements

State and local taxes affect every business in Illinois in one way or another. To ensure their clients remain tax

Benjamin Kluwgant January 22, 2024

Sales & Use Tax

State and Local Taxes: A Guide for CPAs, CFOs, and Business Owners

Mastering State and Local Tax Planning Tax year planning for state and local taxes is a critical aspect of financial

Chris Vignone January 17, 2024

Sales & Use Tax

Benefits of Combining a Sales and Use Tax Refund Review With an Audit

When a state informs a company of an ensuing sales & use tax audit, there is always uncertainty and stress.

Jonathan Kraft May 10, 2023

Sales & Use Tax

Telecommunications and the Federal Universal Service Fund Fee

The Role of Telecommunications in the Federal Universal Service Fund Telecommunications companies operating in the United States are subject to

Chris Vignone April 25, 2023

Sales & Use Tax

What is Business Personal Property Tax?

The Business Personal Property Tax Business Personal Property Tax is a tax assessed on tangible personal property businesses own. This

Kamal Shah, CPA April 14, 2023

Sales & Use Tax

Why Do We Have Sales & Use Tax?

What is Sales & Use Tax? Sales and Use Tax is a consumption tax, a form of tax that is

Johanna Monroy April 11, 2023

person looking at laptop with magnifying glass

Sales & Use Tax

Understanding Use Tax Audits

A use tax audit is a review of a business’s compliance with use tax laws. It can be a daunting process, but with proper preparation, its impact can be minimized. What is a Use Tax Audit? Use taxes are imposed on the storage, use, or consumption of tangible goods purchased

Chris Vignone November 5, 2024

woman using phone with money signs floating above

Sales & Use Tax

Sales Tax versus Use Tax: What is the Difference?

Understanding Sales and Use Taxes Sales tax and use tax are both taxes imposed on the sale or use of tangible goods within a state or municipality. While they are similar in nature, it is important to understand the key distinctions between the two. Definitions: Sales Tax: A sales tax

Benjamin Kluwgant October 23, 2024

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 previously, now is the time to look at Last-In-First-Out (LIFO) accounting. If you have inventories of machinery and equipment, glass products or any concrete or cement inventory, there could be

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 businesses, from manufacturers and distributors to retailers. Amidst the challenge of rising costs for raw materials and finished goods, the Last-In-First-Out (LIFO) inventory method emerges as a potent strategy to

Source Advisors April 13, 2021