Posted by Jeffrey M. Feingold on 12.16.15
It is hard to believe, and we may still see a reduced two-year renewal of these tax incentives, but it is possible that we may see both the R&D Tax Credit and 179D Energy Tax Deduction become permanent. A Bill in Congress covering the tax extenders has proposed to make both the R&D Tax Credit and 179D Energy Tax Deduction permanent. This decision should be made this week, which could result in a benefit for businesses to truly plan for research and development activities, as well as energy saving construction on a long-term basis. What does this mean? If businesses can plan out such development, we could see more stable job growth possibilities. Find out if your clients qualify for the R&D Tax Credit or the 179D Energy Tax Deduction, and work with professionals that can get the most benefit for you and your client.