Author: Phil Williams, JD, BSME Several activities undertaken by companies in the cannabis industry would generally be considered research and development for purposes of the federal Research and Development (R&D) Tax Credit. The Agriculture Improvement Act of 2018 (popularly known…
In an effort to rebuild the economy for workers, families, and small businesses, the Commitment to American GROWTH Act will lock in key provisions to help support businesses and maximize innovation through research and development. The legislation was introduced by…
Randy Crabtree, CPA and Phil Williams, JD, BSME We have had many CPA’s recently ask how expenses included on the Payroll Protection Program (PPP) loan forgiveness application will affect taxpayers’ R&D credits for 2020. They also want to know if…
No large or small business owner wants to hear that they are being audited - especially if they have never experienced the situation before. As a CPA firm, it is your job to help clients navigate the process, help them…
In part one of this two-part blog series, we discussed the differences between SBIR grants and R&D tax credits and reviewed how each can be used to fund innovative research for businesses. Now we are going to discuss how research…
By: Brett Barton, Director, Tri-Merit Key Takeaways: Qualified expenses can be found within smaller components of larger projects The aggregate of these subset development expenses can add up to significant tax savings Understanding what to look for is critical in…
Your tax clients expect the CPAs at your firm to provide guidance and advice that lead them to where growth opportunities lie -- increasing their ability to make profitable business decisions. Many CPAs focus on performing tax accounting only as…
New legislation has been introduced by Senator Chris Coons of Delaware that will boost federal investment in private American businesses that perform research and development (R&D), including activities that will help fight the Coronavirus and rebuild the economy. The bipartisan,…
It is no secret that to remain competitive, engineering firms must continue to invest in research and development, but finding the cash to do so can be difficult. The Research and Development (R&D) Tax Credit was designed to promote technical…
American companies in various industries are pitching in to help fight against coronavirus and COVID-19. How does the R&D tax credit apply towards these efforts? By: Shaun Yeh, Director, Tri-Merit The R&D tax credit is a powerful federal tax incentive…