KBKG Tax insight: Tips for Documenting Qualifying R&D Expenses

10/26/2017

Every company seeks effective ways to reduce their overall tax liabilities. Although traditional tax planning can certainly reduce business taxes, there is often a limited impact, leaving owners and managers searching for additional savings opportunities. The good news is that the Research and Development (R&D) Tax Credit is available to qualifying companies that have or … Read More

Research Tax Credit Opportunities for Architects and Engineers

05/17/2016

Architecture and engineering firms may want to take another look at the often forgotten Research & Development (R&D) Tax Credit. Many may be eligible for federal and state research credits without realizing it. Historically, the R&D Tax Credit was geared to only benefit large companies; mostly in the manufacturing, software, high-tech and pharmaceutical industries. However, … Read More

R&D Tax Credit Expanded for Small & Midsize Businesses

12/18/2015

Congress is spreading some cheer this holiday season in the form of tax breaks for both businesses and individuals. The Protecting Americans from Tax Hikes (“PATH”) Act of 2015 was passed by both the House and the Senate and is a groundbreaking $650 billion tax extender bill aimed at providing taxpayers certainty and opportunity into … Read More

R&D Tax Credit for the Food & Beverage Industry

06/08/2015

With the challenge of feeding an ever growing population, food & beverage companies in the United States are forced to increase their research and development efforts to meet demand. In addition to providing more options, food and beverage manufacturers are fighting to keep up with trends in the market place which include the reduction in … Read More

Treasury Releases Proposed Regulations on R&D Credits for Internal Use Software

01/20/2015

On Friday, January 16, 2015, the Department of Treasury issued proposed regulations regarding the applicability and inclusion of Internal-Use Software as part of the IRC Section 41 ‘Credit for Increasing Research Activities,’ providing increased availability of the research and development tax credit for a greater number of entities, particularly small to mid-sized taxpayers. These proposed … Read More

Senate passes Tax Extenders for 2014; President Expected To Sign Into Law

12/17/2014

On Tuesday December 16th, the Senate passed H.R.5771 to extend several expired tax provisions and President Obama is expected to sign it into law in the coming days. The extension is retroactive from January 1, 2014, through the end of this year with minimal changes to the prior tax provisions.H.R.5771 was originally passed by the … Read More

House on the verge of voting on Tax Extenders including the R&D Tax Credit

12/03/2014

Last week, congressional aides to Senate Majority Leader, Harry Reid (D-NV), and House Ways and Means Committee Chairman, Dave Camp (R-MI), were reportedly nearing a deal to address many of the tax provisions that expired at the end of 2013. The reported value of the deal was in excess of $400 billion. Many of these … Read More