R&D Tax Credit: Opportunities and Pitfalls in the 2018 Landscape
The Research & Development (R&D) Tax Credit was created to help businesses engaged in qualified research activities. The credit is applicable to companies of all sizes including startups and small companies. The credit enables companies and their owners to offset federal taxes dollar for dollar. Startups who have not yet turned a profit may reduce the load of their federal payroll tax bills up to a maximum of $250,000 annually. The IRS notes only four steps for an activity to qualify for the credit.
However, because of some legal misinterpretations on tax credit laws, only very few companies in the U.S. take advantage of the R&D tax credit. Although the federal government encourages research companies to qualify for the credit, the credit tends to be misunderstood and underutilized.
Listen as a panel of distinguished tax credit professionals organized by The Knowledge Group provide the audience with an in-depth discussion of the Research & Development (R&D) Tax Credit. Speakers, among other things, will offer helpful insights on the benefits of qualifying for such credit, as well as strategies to avoid common pitfalls.
In a LIVE Webcast, the speakers will discuss:
- PATH Act of 2015 – Overview
- The Research & Development (R&D) Tax Credit – In-depth discussion
- Annual Tax Offset under R&D Tax Credit
- How to Qualify for R&D Tax Credit
- Frequently Asked Questions about R&D
SEGMENT 1: Laura A. Randeles, RTC Senior Manager Braithwaite Global Inc.
- Intro & Historical context /evolution of R&D credit
- Section 41 Business Component Requirement & Approaches
- Three Buckets of Qualified Costs (Supplies, Contractors, Wages)
SEGMENT 2: Thomas J. Moul, CPA, Director of Strategic Tax Services Stambaugh Ness
- Impact of the PATH Act of 2015
SEGMENT 3: Matthias Needam, Director CSG Strategic Tax Consultants (CSG)
- Elements of a quality R&D Tax Credit Study
- The Four Part Test for Qualifying Activities
- Types of Supporting Documentation
SEGMENT 4: William Kuhlman, Tax Partner Marcum LLP
- IRS Current Audit Issues & Initiatives
- IRS Directive ASC730 Application
- Discussion of Unique Applications of R&D Credit Statute / Industry Specifics
SEGMENT 5: Thomas J. Moul, CPA, Director of Strategic Tax Services Stambaugh Ness
- Funded vs. Unfunded Activities and IRS focus on this item
- Future of the Credit with Tax Reform
William Kuhlman is a tax partner in Marcum’s Philadelphia office and is Marcum’s Research and Development Tax Credits leader. He came to Marcum in 2015 via the Firm’s merger with Smart Devine, a leading full-service accounting firm in Philadelphia, where he was managing director for the Research & Development (R&D) Tax Consulting Practice. Mr. Kuhlman has spent over 20 years consulting with middle-market U.S. corporations and was instrumental in the success of national, regional and boutique R&D tax consulting practices.
William Kuhlman is a tax partner in Marcum’s Philadelphia office and is Marcum’s Research and Development Tax Credits leader. He …
Tom specializes in customized planning that increases tax efficiency by considering the unique big-picture needs and goals of each client. Working closely with companies, Tom outlines steps to minimize taxes, identify alternatives, and understand tax implications and structure transactions.
Additionally, Tom applies his tax expertise to clients who are conducting or considering conducting international business ventures. His love of sports has given Tom an appreciation for the positive impact of coaching which he applies to his every day work by helping and encouraging others.
Tom specializes in customized planning that increases tax efficiency by considering the unique big-picture needs and goals of each client. …
As RTC Senior Manager of ABGI, Laura has conducted over one hundred research tax credit studies in her R&D career. Laura has helped companies identify R&D opportunities in multiple industries, including manufacturing, engineering, food processing, construction, and software development. As a licensed attorney with over ten years of experience in the legal profession, Laura has the proficiency required to analyze and apply the R&D credit within its technical, legislative and regulatory framework. She has worked with subject matter experts all over the U.S. to streamline the R&D study process and identify key areas of qualified research. Laura graduated with a J.D. from Florida Coastal School of Law in Jacksonville, Florida in 2009. She also has a B.A. and M.L.A. with a focus in Political Science from the University of St. Thomas in Houston, Texas.
As RTC Senior Manager of ABGI, Laura has conducted over one hundred research tax credit studies in her R&D career. …
Matthias Needam a graduate of Virginia Polytechnic Institute and State University, with a Bachelor of Science degree in Electrical Engineering, joined Wall, Einhorn & Chernitzer, P.C. (WEC), in 2008. He is currently director of CSG Strategic Tax Consultants a subsidiary of WEC. With nearly 15 years of experience in specialty tax consulting and engineering design for commercial and residential real estate, Matthias has become one of the Nation’s leading R&D tax credit experts and Cost Segregation professionals. Matthias is certified as a component engineer by the Structural Building Components Association. Additionally, he specializes in Research and Development Tax Credits, 179D Energy Efficiency Deductions and other consulting services in areas of real estate. Using his vast knowledge of the tax code and engineering expertise, he has helped create nearly a billion dollars in deductions and tax credits for his clients. Matthias has played a key role in helping CSG steadily grow by taking the worry out of navigating America’s Tax laws for the clients that he represents.
Matthias Needam a graduate of Virginia Polytechnic Institute and State University, with a Bachelor of Science degree in Electrical Engineering, …
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Method Of Presentation:
Experience in tax law
NASBA Field of Study:
Taxes - Technical
NY Category of CLE Credit:
Areas of Professional Practice
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About Marcum LLP
Marcum LLP is one of the largest independent public accounting and advisory services firms in the nation, with offices in major business markets throughout the U.S., as well as Grand Cayman, China and Ireland. Headquartered in New York City, Marcum provides a full spectrum of traditional tax, accounting and assurance services; advisory, valuation and litigation support; and an extensive range of specialty and niche industry practices. The Firm serves both privately held and publicly traded companies, as well as high net worth individuals, private equity funds and hedge funds, with a focus on middle-market companies and closely held family businesses. Marcum is a member of the Marcum Group, an organization providing a comprehensive array of professional services.
About Stambaugh Ness
Stambaugh Ness is a CPA / Business & Technology Advisory firm with a strategic focus on the architecture and engineering, construction, manufacturing, not-for-profit, and professional services industries. The firm is an independent member of the BDO Alliance USA, a nationwide association of independently owned local and regional accounting, consulting and service firms with similar client service goals.
About ABGI USA
ABGI Group is an international tax consulting firm focused on the Research and Development Tax Credit worldwide. Our tax experts include tax specialists, lawyers, and engineers across the globe with a focus on helping companies generate capital for innovation. With over 35 years experience, ABGI is considered the premier Research Tax Credit Service provider in the country.
About CSG Strategic Tax Consultants (CSG)
Founded in 1999, CSG Strategic Tax Consultants (CSG) is a national provider of services geared towards assisting business owners with Research & Development Tax Credits, Cost Segregation Studies, 179D Energy Tax Deductions, 45L Energy Tax Credits, and additional tax strategies. CSG takes the worry out of navigating America’s tax laws for businesses. They provide specialty tax services that help reduce tax liability and increase cash flow and they are dedicated to providing valuable solutions to their clients in a professional and timely matter.