Category Archives: News and Insights

understanding R&D tax credit

Does Your Company Qualify? Understanding R&D Tax Credit Requirements

Drilling Into the IRS’ Four-Part Test. If your company is in an industry that qualifies for R&D tax credits, it makes sense to explore whether any of your operations and related expenses meet the R&D tax credit requirements. Many business owners only think science labs, beakers and test tubes when it comes to R&D. Actually,

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R&X tax credits for contract manufacturing

Contract Manufacturers: Take Advantage of R&D Tax Credits for Manufacturing

Learn What Activities May Qualify for Significant Tax Savings. Calculating the Research and Experimentation Tax Credit (RTC) under IRC §41 allows taxpayers engaged in qualified Research and Development (R&D) activities to claim a credit against their income taxes. Eligible costs include employee wages, costs of supplies that are used and consumed or destroyed in R&D

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California, Economic Nexus

California Adopts Economic Nexus, But Threshold Uncertain

On Tuesday the California Department of Tax and Fee Administration announced that beginning April 1, 2019, California will require out-of-state retailers to collect and remit use tax if they have $100,000 in sales or 200 transactions. The $100,000 threshold is far from the $500,000 threshold discussed back in August 2018 through draft legislation. In addition,

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selecting R&D Tax Credit Specialists

Selecting R&D Tax Credit Specialists: 7 Key Questions

R&D tax credits are among the most potentially lucrative tax incentives available today for companies developing new products and enhancing manufacturing processes. For qualifying start-ups and more established privately held companies, they can free up precious capital for scaling growth. For larger enterprises, R&D tax incentives can contribute mightily to multi-year tax planning and savings.

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Opportunity Zone

Treasury Releases Proposed Regulations for Opportunity Zones

On October 19th, 2018 the Department of Treasury has issued proposed regulations for Opportunity Zone Investors and has sent these rules over to the IRS. The proposed regulations provide guidance under new section 1400Z-2 of the Internal Revenue Code relating to gains that may be deferred by investors for investments in a qualified opportunity fund

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Michigan, MI, Wayfair

Michigan Announces Economic Nexus – And Gets It Right

On August 2, Michigan released a Revenue Administrative Bulletin (RAB 2018-16) that addresses sales & use tax nexus standards for remote sellers. Most of the language is cookie cutter with other state releases such as creating a threshold of $100,000 in sales or 200 transactions. However, unlike many other states Michigan clearly addresses several key

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