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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R&D Tax Incentives for the Precast Concrete Industry

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.

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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 …

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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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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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The R&D Tax Credit Extended Once Again – What Does 2015 have in Store?

On Friday, the White House indicated that President Obama signed the tax extender package contained in HR 5771, the Tax Increase Prevention Act of 2014. The bill, which was overwhelmingly approved in the House of Representatives and the Senate earlier this month, includes a one-year extension of the research tax credit retroactive to January 1, …

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