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 …

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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 …

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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 …

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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 …

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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 …

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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 …

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Congress Makes the Research Tax Credit Permanent

The U.S. Senate approved a sweeping fiscal legislation package on December 18 that not only averts a government shutdown, but makes the research and development tax credit permanent. The Senate passed the bill by a vote of 65-33, shortly after the House approved the legislation by a similar margin of 316-113 House. The legislation, entitled,Protecting Americans …

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The Senate Finance Committee Approves an Enhanced Research Tax Credit

On July 21, the Senate Finance Committee approved a two-year extension of the Research Tax Credit. In a roll-call vote, the Committee endorsed an extension of the research credit and several dozen other business tax credits and deductions through the end of 2016 by a margin of 23-3. The bill put forth by the Finance …

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