Building the Case for R&D Niche within Your CPA Firm

Now that you’re convinced you can achieve firm growth by helping your clients find valuable tax credits, how do you bring your colleagues on board with you? That’s easy—demonstrate profitability! R&D tax credits are extremely profitable, more so than many traditional services.

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Will Filing for R&D Credits Increase My Audit Risk?

As a business owner, as long as you meet the IRS’ four-part test for eligibility, you may qualify for hundreds of thousands of dollars that you can use to further grow and invest in your business. Despite this lucrative opportunity, there is still one thing that holds some companies back—the fear of being audited. Understanding this concern, Tax Point Advisors provides the following answers to the question, “Will filing for R&D credits increase my chance of being audited?”

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Can Your Business Benefit from Arizona’s R&D Tax Credit Program?

Like the federal government, the state of Arizona provides a generous research and development (R&D) tax credit as an incentive to those who conduct R&D activities within the state. In Arizona, the R&D incentive provides an income tax credit for increased R&D activity within the state. Companies may also be eligible for a “basic research” credit if their payments made in cash to a qualified university or scientific research organization for research conducted in Arizona exceed a base period amount. 

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How to Build a Viable R&D Tax Credit Niche

How do you know which of your clients (or prospects) are likely candidates for federal and state R&D tax credits? IRS code changes have broadened the definition of qualifying activity—and keep in mind that over 70% of states now offer a credit, adding value to the consideration of an R&D tax credit study.

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R&D Credits for the Oil and Gas Industry

Increased research and development (R&D) activity in the U.S. oil and gas industry has resulted in many innovative advancements in the field. Despite global competition in the oil and gas marketplace, the U.S. continues to play a vital role, and there are incentives for companies engaging in qualified R&D activities.

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Why CPA Firms Should Build Business with R&D Tax Credits

While most CPA firm leaders are aware R&D tax credits exist, they either lack the knowledge or manpower to get their clients involved in the process. Yet, many of the activities your clients already perform on a daily basis qualify R&D credits, and if you don’t offer this attractive tax credit to your clients, someone else likely will. 

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Valuable Tax Incentives for the Aerospace Industry

For the first time in five years the U.S. aerospace industry is experiencing job growth, with an expected additional 40,000 jobs by the end of 2016. As an industry significantly invested in research and development (R&D) activities, aerospace companies can further reinvest in their growth by qualifying for federal and state R&D tax credits.

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California Offers Valuable R&D Tax Credit Incentive

Like the federal research and development (R&D) tax credit, the state of California provides a tax credit as an incentive to those who conduct research and development activities within the state. In fact, the 15% credit rate (regular credit only) for excess expenditures over a base, is one of the best credits in the nation. While the state and federal credits share some common requirements and incentives, the California Research Credit has some separate requirements.

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How Much Money Can R&D Tax Credits Save Your Business?

If you knew you could save your business hundreds of thousands of dollars by doing what you already are doing, wouldn’t you jump at the chance?

Most companies are completely unaware that they can save significant money – even up near the seven-figure range – simply by applying for credit for activities related to research and development (R&D) they already are doing. In fact, most of our clients claim a gross credit of 10 percent of their R&D spend.

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Engineers: Do Your Activities Qualify for Valuable Tax Credits?

Innovators. Problem solvers. Creative thinkers. Engineers are often described by these attributes, and many of the activities they perform on a daily basis may qualify for valuable research and development (R&D) tax credits.

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