What is the R&D Tax Credit Carryforward Period?

When it comes to claiming R&D tax credits, many taxpayers are unaware of the rules allowing them to carryforward the unused portion of their research tax credit. In most situations, a company who has qualifying research expenses but no income can carryforward the credit to offset tax liabilities on future profit. Any unused R&D credits …

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Another Source of Cash from Government Tax Credits

Many small and midsize businesses affected by COVID-19 are struggling to maintain their cashflow, operational capabilities, and internal research and development activities. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided some financial relief to these businesses affected by COVID-19 through emergency grants, retention tax credits, and forgivable loans that only provide temporary help …

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R&D Tax Credits for Software Development

Companies who develop software for sale or use by customers or third parties, or for operating equipment or products, or for use in their business may be eligible for R&D tax credits.  These research credits are a dollar-for-dollar reduction of federal and state tax liabilities. The IRS’s R&D tax credit regulations relating to software development …

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Raise a Glass for R&D Tax Credits in the Craft Brewing Industry

R&D Tax Credits for Brewery

Who knew the craft brewing industry would qualify for the research tax credit. Ask a Master Brewer about their unique beers and you will likely receive a passionate description of how they constantly explore innovative and diverse styles of beer making to meet market demands and stay competitive. Companies in the brewery industry often invest …

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Wondering How to Offset Payroll Tax with R&D Tax Credits?

How to Offset Payroll Tax with R&D Tax Credits

The Protecting Americans from Tax Hikes Act of 2015 (The PATH Act) created an opportunity for qualified small businesses to offset all or a portion of their contribution to payroll tax using federal R&D tax credits for up to five years. Business owners and executives interested in saving valuable payroll tax dollars need to understand the following key points.

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Substantial Tax Credits for Construction & Engineering Firms

Substantial Tax Credits for Construction & Engineering Firms

It may come as a surprise to some industry professionals that many construction and engineering firms invest significant amounts of money in research and development, yet never claim tax credits for it. The fact of the matter is that there are substantial tax incentives available in much of the typical work conducted by construction and engineering companies.

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R&D Tax Credits Remain Strong Despite Tax Reform

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 the question is the Republican goal of simplifying the tax code, reducing tax rates, eliminating tax breaks and decreasing the federal deficit.

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