Blog2019-02-10T17:52:12+00:00

Blog

Blog

2703, 2020

Four Research Tax Credit Misconceptions

March 27th, 2020|

The research tax credit provides companies a competitive advantage and encourages growth, yet there remain many companies who are failing to take advantage of the credit due to some common misconceptions. Below are some of those misconceptions and an [...]

2003, 2020

Breaking News – Tax Day Moved to July 15

March 20th, 2020|

Per a tweet on the morning of March 20, 2020, the Treasurer secretary announced that the April 15th filing deadline would be extended 90 days to July 15. Steven Mnuchin’s tweet said “At President Donald Trump’s direction, we are [...]

303, 2020

Higher Cash Returns for Start-ups in New House Research Credit Bill

March 3rd, 2020|

In December, the House of Representatives introduced a bill to boost the research credit for new and small businesses. The bill, Research and Development Tax Credit Expansion Act of 2019, would potentially impact taxpayers who are eligible to offset [...]

2102, 2020

Companies Think Optimizing Their R&D Tax Credit Isn’t Worth Their Time. Here’s Why They’re Wrong.

February 21st, 2020|

Recently, I was talking to a company that was using an accounting firm to assist with their research tax credit. We went back and forth on the differences between using engineers and accountants to calculate the credit (we’re fans [...]

3101, 2020

Wisconsin Issues Proposed Guidance on Refundable Research Credit

January 31st, 2020|

A favorable change in the Wisconsin research credit was passed for tax years beginning on or after January 1, 2018.  The law change allows a portion of the credit to qualify as refundable. This helps Wisconsin companies benefit from [...]

1001, 2020

Why the R&D Tax Credit Requires Expert Analysis

January 10th, 2020|

Why the R&D Tax Credit Requires Expert Analysis How often have you been in a situation where you need something fixed that either you don’t know how or don’t have the time to fix? If there’s a plumbing issue, [...]

1112, 2019

Illinois Extends R&D Tax Credit and Creates New Apprenticeship Credit

December 11th, 2019|

In August, Illinois Governor J.B. Pritzker signed SB 1591 extending the Illinois R&D tax credit for an additional 5 years, through 2026. The current R&D tax credit was due to expire at the end of 2021. Since the credit [...]

512, 2019

How to Increase Profits with the R&D Credit

December 5th, 2019|

You developed your technology, acquired new customers, delivered outstanding solutions and received a nice reward for your efforts. Still, you’re not happy with how much money is left after you pay your employees, contractors and other business expenses. You [...]

1311, 2019

The Power of a Tax Credit

November 13th, 2019|

Companies are always looking to maximize the net proceeds from the business. Once the total income has been determined, there are two main ways companies can reduce their tax burden: deductions and credits. A deduction is an “above the [...]

2410, 2019

New House Bill Would Undo Unfavorable 2017 Change to R&D Expensing

October 24th, 2019|

A new House bill (H.R. 4549) introduced on September 29, 2019 is proposed to undo some major changes to how R&D expenses are treated. The new bill would enable companies to continue expensing R&D expenditures in the period during [...]

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