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“Recent Changes to the R&D Tax Credit Provide Improved Incentives for Businesses”

About The Article:

With new R&D Tax Credit savings opportunities available, many more businesses will find themselves with vast new opportunity to lower their tax burden.

In a Sept/Oct 2017 article written for the Ohio Society of CPAs (OSCPAs) CPA Voice magazine, Tax Credits Group President Michael Krajcer provides readers with an overview on these recent favorable changes which stem from new payroll and Alternative Minimum Tax (AMT) offsets, and the issuance of Final Regulations relating to Internal Use Software (IUS) development.

In this article, you will learn the following:

  • Why small businesses that once found themselves in AMT and thus unable to benefit from the research credit now have new opportunity to alleviate this tax burden.
  • How the new payroll tax offset provision allows cash-strapped startups to immediately benefit from tax savings in the years where they need it most.
  • How new Treasury Regulations broaden the definition of IUS, making it easier for businesses investing in this area to claim the incentive.
  • Why the Final IUS Regulations allow for the expanded utilization of this incentive and reduce the controversy that has historically plagued taxpayers who have claimed it.