News & Blog

R&D Tax Credits Remain Strong Despite Tax Reform

By: Steve Powers – President of Intrepid Advisors 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. At the heart of…

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Nine Myths About the R&D Tax Credit

By: Steve Powers – President of Intrepid Advisors I’m introduced to owners and managers of manufacturing and technology-based companies virtually every day, and even after 25+ years in the business, I still find it interesting that many business leaders are unaware or unfamiliar with the research tax credit and the financial benefits it can provide their companies. In particular, federal and state R&D tax credits allow companies conducting qualified research…

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R&D Tax Incentives for the Precast Concrete Industry

When business owners, chief financial officers, and corporate accountants consider R&D tax credits, they often conclude that only high-technology companies, innovative scientific start-ups, and other leading-edge enterprises qualify for the credit. What probably doesn’t come to mind are companies involved in the manufacturing of precast concrete components. But the truth is, while medical device, biopharmaceutical, and microelectronics companies have been taking advantage of R&D tax credits for decades, other industries…

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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? The main reason is that most disqualify themselves erroneously because they believe their companies are…

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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 code allows up to 20 years of NOL carryforwards on future tax returns. Unused R&D…

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Intrepid Advisors to present at the Marine Machinery Association 33rd Annual Spring Meeting event

Intrepid Advisors to present at the Marine Machinery Association 33rd Annual Spring Meeting event, February 15, 2017 Steve Powers, President, and Al Lenac, Director of Mid-Atlantic Region, will explain the value of the R&D tax credits and how Intrepid Advisors’ experts can help the marine manufacturing industry receive these tax incentives to reinvest back into their companies. MMA serves the interests of the American companies that supply products, systems and…

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Small Business Offset for Payroll Tax and AMT

When can you recall new tax laws being good news for manufacturing? U.S. manufacturers and technology companies are only beginning to realize that federal income tax provisions contained in the recently enacted Protecting Americans from Tax Hikes Act of 2015 (PATH Act) are certainly worth being excited about. The PATH Act, which was signed into law in December 2015, made the R&D tax credit a permanent piece of the federal…

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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 Congress’ political whims. The research tax credit, which had been a temporary tax measure until…

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Significant Error Discovered in the Instructions for the Newly Revised Massachusetts R&D Tax Credit for 2015

Tax professionals preparing 2015 returns for Massachusetts-based manufacturing and technology companies should beware of a considerable error contained in the state’s online instructions for claiming the R&D tax credit that, if not recognized, could cost their innovation clients substantial dollars in the form of tax overpayments. In August of 2014, the Massachusetts legislature enacted An Act Promoting Economic Growth in the Commonwealth that included business-favorable provisions altering the method for…

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The Revised Massachusetts Research Tax Credit Regulations – How Will the New Rules Affect Your Business?

In August of 2014, the Massachusetts legislature enthusiastically approved An Act Promoting Economic Growth in the Commonwealth, which was quickly signed into law by former Governor Duval Patrick. While there is optimism among the government faithful that the bill’s $85-million economic stimulus package will spur vitality to the Commonwealth’s economy, the state’s manufacturers and technology companies are left wondering how the new R&D tax credit regulations prescribed in the legislation…

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