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Strategies for Capitalizing on R&D Credits for Small to Medium Sized Businesses

Find ways to support your clients and identify opportunities to minimize tax liability.

Tax laws get increasingly complicated each year. As a result, finding ways to support your clients and to identify opportunities to minimize their tax burden become more difficult. The Research & Development Tax Credit is one of the more complicated and difficult to understand tax incentives available to U.S. taxpayers. How can I tell if the activities of my client qualify for this credit? How does the IRS define "research and development" and how does that translate into a tax credit? This material is focused on the CPA and financial executive who's responsibilities include minimizing their clients' or companies tax liability. Review how and why activities qualify as well as how the time and effort expended by the taxpayer can be translated into a federal (and in many cases, state tax credit). Failing to understand how to properly assess and document the qualifying activities is the most common mistake made and can lead to an unfavorable result if audited. The topic is critical for CPAs and financial executives who need to understand both the basics of the R&D tax credit and the potential pitfalls that may disqualify an activity from generating the credit.

Runtime: 102 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Course Objectives

  • Learn and Apply the 4-Part Test
  • Recognize Activities That May Qualify
  • Understand the New Rules for Small Businesses
  • Build Strong Documentation

Defining Research and Development

  • R&D Tax Credit Timeline
  • R&D Credit Qualifying Expenditure

R&D Credit Basics

  • Business Component Test
  • Technical Uncertainty
  • Process of Experimentation
  • Scientific Principles
  • Qualifying Activities

Documentation

  • Credible Evidence

R&D Credit - Special Rules

  • Patent Safe Harbor
  • Excluded Activities
  • Funded Research
  • Internal Use Software

Recent Changes

  • Section 174 R&D Expenditures
  • AMT Offset for Small Business
  • Payroll Tax Credit for Start Ups

R&D Credit Calculation

  • Regular Method
  • ASC Method

R&D Tax Credit Documentation

  • Qualitative Documentation
  • Quantitative Documentation
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on December 10, 2018.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Randy Eickhoff, CPA

Randy Eickhoff, CPA

Acena Consulting

  • Founder of Acena Consulting
  • Practice emphasizes all aspects of R&D tax credits, cost segregation and other tax incentives
  • Conducts regular seminars and workshops on the R&D tax credit
  • Author of several publications related to the R&D credit and relevant court cases and tax updates
  • B.A. degree in business economics, University of California at Santa Barbara Cal, CPA Member
  • Can be contracted at 805-426-9669, [email protected] or @acenaconsulting
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 404140
Published 2018
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