[Updated] KBKG Tax Insight: R&D Tax Credits – Protective 280C(c)(3) Elections

08/11/2021

Updated September 16, 2020 The Section 41 Research Credit was enacted in 1981 as a temporary code section and made permanent with the passage of the Protecting Americans from Tax Hikes (“PATH”) Act of 2015. The research credit is an incentive providing taxpayers across all industries, performing qualified activities, the opportunity to reduce their tax … Read More

Feature: R&D for Agriculture with Harvest Harmonics

06/29/2021

Jim Kurtz, Executive Director of Harvest Harmonics, interviewed our Principal, Jon Tucker, and Director, William Long. They discussed the benefits of the R&D Tax Credit for the agriculture industry and gave farmers valuable information that they can use to make their farms and business more profitable. Learn more about R&D Tax Credits for the agriculture … Read More

KBKG Tax Insight: Monetize R&D Tax Credits: Start-ups and Small Businesses

06/22/2021

The Protecting Americans from Tax Hikes (PATH) Act of 2015 made it possible for start-ups and small businesses to qualify for a tax credit of up to $250,000. Start-ups and small businesses that were previously unable to benefit from the research and development (R&D) tax credits due to lack of taxability should take advantage of … Read More

Research Tax Credit Opportunities for Architects and Engineers

05/17/2021

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

[PRESS RELEASE] KBKG Welcomes Two New Directors to Atlanta-Based Operation

02/23/2021

Atlanta, Georgia – Nationwide tax specialty firm KBKG hired two new Directors, Amar Patel and Ian Williams, as part of their Southeast practice. Both Directors join KBKG with over 25 years of combined experience in Cost Segregation and Research & Development Tax Credits, two key services offered by the firm to CPAs and businesses. As … Read More

[PRESS RELEASE] KBKG Welcomes Three New Principals to Their Cost Segregation and Research & Development Tax Credit Services

02/10/2021

PASADENA, CA, – Nationwide tax specialty firm KBKG promoted Eddie Price to Principal of Cost Segregation Services, as well as Paul McVoy and Jonathan Tucker to Principals of Research & Development Tax Credit Services. Eddie Price leads KBKG’s Cost Segregation practice and oversees KBKG’s Southern region and its Texas-based operations. He is a Certified Cost … Read More

Top 8 Benefits of the R&D Tax Credit

08/05/2020

The research and development tax credit is one of the most valuable credits leveraged by innovators and entrepreneurs since its inception in 1981. While the credit has been around for almost 40 years, renewed focus on research and development has created opportunities for even more businesses to take advantage. Curious to know more? Here are … Read More

KBKG Tax Insight: Senate Finance Committee Discusses Potential for New Coronavirus Bill that Would Allow Accelerated Federal Tax Breaks

06/23/2020

As the Coronavirus pandemic continues to impact the country and economy, the Senate Finance Committee is continuing to discuss ways to help American businesses weather the storm. According to insiders, the potential proposal, which could be as large as $1 Trillion in relief funds, will include a provision that would remove limitations on businesses that … Read More

KBKG Tax Insight: New and Improved Changes to Research and Development (R&D) Tax Credit: Furthering the American Recovery from the Coronavirus

05/06/2020

Senator Chris Coons of Delaware recently introduced legislation (S. 3593) called “Furthering Our Recovery With American Research & Development Act” (“FORWARD”), which makes changes to and expands Internal Revenue Code Section 41: Credit for Increasing Research Activities (“IRC 41”). Applying these modifications to the existing law could allow companies that invest in the research and … Read More

Changes and Extension of the Virginia R&D Tax Credit

04/14/2020

The Commonwealth of Virginia made key changes and extended the income tax credit for conducting qualified research and development in Virginia. Key changes include: A three (3) year extension of the credit from tax years beginning before January 1, 2022 to tax years beginning before January 1, 2025 Beginning January 1, 2021, an increase in … Read More