In a measure that was approved by the New Hampshire Legislature back in 2015, the total aggregate amount of the state’s R&D tax credits will increase to $7 million effective July 1, 2017. The state’s R&D tax credit program is popular—in fact, more manufacturing businesses in the state applied for the R&D credit in 2016 than ever before, far exceeding the current $2 million cap.
Businesses in industries across the spectrum are missing out on tens – even hundreds – of thousands of dollars in money-saving opportunities each year because of misconceptions about industry and/or qualifying activities. If you are a business owner who is unsure if your activities qualify for R&D tax credits, make sure to check out our most recent e-book: "The Business Owner’s Guide to R&D Tax Credits"
The IRS has issued final rules that clarify whether software that a company develops for its own internal use can qualify for the research and development (R&D) tax credit. In issuing its final regulations, the IRS also addressed the issue of whether software that a company develops for use by other companies can qualify for the tax credit.
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.
Identity and website tout the firm's expanded focus on R&D tax credits and other specialty tax services.
Insurance companies who develop innovative ways to deliver customer services and access information and technology, may qualify for R&D tax credit savings.
When Congress made federal R&D tax credits permanent with the PATH Act of 2015, it included a new provision that benefits startups and small businesses.
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.
