It’s Now Easier for Large Businesses to Claim R&D Credits
New IRS guidance allows large business and international taxpayers (with assets of $10 million or more with audited financial statements) to take advantage of a “safe harbor” under which an adjusted amount of their R&D costs can be classified as qualified research expenses for increasing research activities. This new method of determining the correct amount […]
Start-ups – don’t miss out on this powerful profit booster
R&D tax credits to offset payroll taxes The R&D tax credit has been a powerful profit booster for established businesses for decades, but many start-up and early-stage companies can also benefit. Prior to the passage of the PATH Act in 2015, many start-ups with research and development activity were not able to take advantage as […]
R&D Tax Credit E-Book: Don’t Leave Money on the Table
R&D Tax Credit E-Book: Don’t Leave Money on the Table Don’t leave money on the table by assuming your company isn’t eligible to take advantage of R&D tax credits. To make sure you don’t miss out, we developed this guide to help you determine your company’s eligibility, provide an overview of the stages of an […]
R&D Tax Credit FAQs
Many businesses don’t realize they qualify for the R&D tax credit. How much did your business pay in tax last year? Do you like paying Uncle Sam more than you need to, or would you rather reinvest that money in your business? Reduce your tax burden and boost your cash flow by taking full advantage […]
Qualifying for the R&D Tax Credit Increases Your Company Value
Private businesses in particular should note the added value that the R&D tax credit can offer during mergers and acquisitions. The credits can be claimed in one year and taken in another, making it possible to transfer them to a buyer. They also offer validation of a company’s ability to innovate. Some companies claim the […]
Clark Schaefer Hackett Guides Our Clients Through Three Stages of an R&D Study
Stage one: assessment and feasibility This no-cost stage of service offers your business a risk-free way to examine your opportunity to capture R&D credits. Specialists review your projects, departments, processes, and technologies in light of eligibility standards. Your documentation of research expenditures is evaluated for conformity to current requirements. Then your projected tax savings will […]
Do Your Research Expenses Qualify For R&D?
If your business has engaged in any of the following endeavors, take seriously the R&D tax credit opportunity that the federal code offers. Qualified expenses include wages, supplies and contract research that support: Development of new or improved products Creation of software applications Advancement of your manufacturing process Engineering and design of fabrication and/or production […]
No matter your industry, this activity could qualify for an R&D tax credit
New rules make it easier to claim the R&D tax credit Think only IT firms undertake software development activities that qualify for the Research and Development (R&D) tax credit? Think again. If your company develops software for use in your business, you should be aware of recent regulations issued by the Treasury Department. The new […]