No one enjoys being audited. But with the Research and Experimentation Tax Credit being named one of 2019’s Dirty Dozen again, IRS audits for the R&E Credit are not an unusual occurrence. While it’s easy to feel like getting audited [...]

Surprisingly, a majority of small to medium size businesses have never heard of the R&D Credit. Not surprisingly, they’re not taking advantage of these valuable sources of funding. When they are aware and claiming the Credit, they’re often leaving money [...]

Beyond the R&D tax credit, state and local incentive programs are meant to incentivize business activity and growth in a specific state, county, city, or municipality.  These incentives typically take the form of one of the following: Traditional Tax Credits [...]

On June 13, 2019, Michigan introduced Senate Bill 378 that would create a refundable research tax credit (RTC) for specific Automotive Industry taxpayers for tax years beginning after December 31, 2019.  The current research tax credit equals 1.9% of Qualified [...]

A few weeks ago, I had the privilege of representing Hull & Knarr at Kinetic Indiana and share our expertise in R&D Tax Credits and Local and State Incentives. Every year, Elevate Ventures organizes Kinetic Indiana to give entrepreneurs and [...]

While 2018 is squarely in the rear-view mirror, many companies are still working on tax filings for that long past time period.  The unfortunate reality is that this is the right time to start planning for 2019. You can make several [...]

In an extended game of unintended consequences, some U.S. corporations are facing uncertainty that may result in moving R&D operations outside the U.S.  The 2017 tax law changes didn’t account for existing rules that require certain U.S. business expenses to [...]

Tax filing time has arrived and so have the typical string of articles describing how the mega-corp. du jour is paying $0 in taxes despite billions in revenue.  The truth behind why a company, in this case Amazon, has no [...]

Bringing a New Chemical Entity (NCE) to market is an extraordinarily expensive endeavor.  According to a Tufts University study (and validated by many other sources) bringing an NCE to market can now cost upward of $2.5 billion...a 145% increase since [...]

According to a December 19, 2018 Treasury Inspector General for Tax Administration (TIGTA) report, the IRS does not currently have processes in place to identify small businesses that do not meet the eligibility requirements and dollar limitations for claiming the [...]