
Now that the Protecting America from Tax Hikes (PATH) Act of 2015 has made federal Research & Development (R&D) tax credits permanent, CPA firms have more reason than ever to add this powerful tax-savings tool to the client services they offer.

New legislation broadens the impact of the R&D tax credit for many small-to-midsize businesses by making the credit available to many innovative businesses that previously couldn’t take advantage of the credit because their shareholders were paying AMT.

This simple four-part test will help determine if you qualify for the Research & Development Tax Credit.

The permanent extension of the R&D tax credit is a wake-up call that beckons many industries to evaluate their eligibility to apply for the credits.