Latest Updates

Written by Pat Brazee, Associate Director, Tri-Merit The R&D tax credit has been around since 1981, but that does not mean it’s old news. The spirit of this credit lives on today and its application has evolved greatly since it was introduced. As technology...

Written by Barry Devine, MBA, Regional Director, Tri-Merit By now, most Architecture & Engineering (A&E) firms have heard of the benefits of the Research & Development (R&D) Tax Credit. Basically, by reducing the amount of tax that you owe, R&D tax...

Advising clients on how to minimize research and development costs, not to mention understanding the ins and outs of the research and development tax credit, can be a daunting task. A research and development (R&D) operation can determine how successful a company...

Research and product development is considered a set of activities undertaken by organizations in an effort to develop new products and improve ones that already exist. Research and development (R&D) is the key to creating new technologies that will shape our...

Research and development is an integral part of many companies' operations. These processes seek to enhance existing products or discover new ones through ongoing research. In addition to creating brand-new products and services, research and development (R&D) is...

Every product begins life as an idea. This idea will influence the entire product development process. The success of the idea will always be judged on how well it solves a problem or improves the day-to-day life of consumers. The key to creating a successful product...

There is no question that a great deal of information is available about the cost segregation process. However, there are common misunderstandings associated with the process and the term itself. This article will clear up some of the questions about cost segregation....

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...

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 we have any...

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 prepare for the audit, and ultimately put their...

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 endeavors that received the SBIR...

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 protocol demands and...

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....

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 and analytical work...

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 that...

Investing capital into new ideas can be overwhelming, especially for small businesses, but it’s often necessary to improve the products and services offered or create new and innovative solutions. In order to create and improve technologies and products, it is best to...

A cost segregation analysis is the process of looking at and reallocating engineering-based costs relating to the construction, renovation or acquisition of a building. When properly done, this could result in additional accelerated deductions and increased cash flow....

On December 20, 2019, a new spending bill with tax extenders was signed and with tax season upon us, people in industries that benefit from these extensions look forward to taking advantage of energy credits that were thought to no longer be available. In the Omnibus...