1 / 4

Tax Credits Group Presents :

Tax Credits Group Presents :. Research Tax Credit: The Basics. Michael A. Krajcer, JD, CPA Tax Credits Group, LLC Office: (440) 331-0714 Mobile: (216) 308-1564. Research Tax Credit. Benefit: Federal Income Tax credit equal to 14% of the R&D expenditures that exceed a base amount.

eshe
Download Presentation

Tax Credits Group Presents :

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Tax Credits Group Presents: Research Tax Credit: The Basics Michael A. Krajcer, JD, CPA Tax Credits Group, LLC Office: (440) 331-0714 Mobile: (216) 308-1564

  2. Research Tax Credit • Benefit: • Federal Income Tax credit equal to 14% of the R&D expenditures that exceed a base amount. • State Credit – depends which state the activity takes place in. • Ohio – credit equals 7% of the qualifying expenditures that exceed a base amount • Applied against the CAT tax

  3. Research Tax Credit • Qualifying Activity – Research and development intended to create a new or improved: • Product • Process • Computer Software • Invention • Technique • Formula • Qualifying Costs: • Wages • Supplies • Contract Research (at 65%)

  4. Research Tax Credit • Requirements: • Document the project met the “Four-part Test”: • R&D was for a Permitted Purpose • Developmental Uncertainty existed at the outset of the project • The R&D utilized a Process of Experimentation • The experimentation relied on Technical Information

More Related