In late July, the Senate proposed a bipartisan 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 their payroll [...]

Both the Internal Revenue Service (IRS) and state Departments of Revenue (DoRs) are happy to give out the research tax credits. However, they also want to make sure that they give out the right amounts. That means checking the filer’s [...]

If you’ve been in business more than a few hours, you understand that building and growing a business can be a Herculean task. It can be even more challenging if your customer is the government or government contractors. From proposal [...]

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 [...]