Overcoming the Challenges of Section 174 with NTG Mutual 174 Coverage
As businesses continue to invest in innovation through research and development (R&D), evolving tax laws are posing new challenges, particularly with the recent changes under Section 174 of the Tax Cuts and Jobs Act. These updates are forcing companies to rethink their financial strategies, especially when it comes to managing cash flow and maintaining tax […]
A Guide to R&D Tax Credits for IT Companies
In the ever-evolving field of information technology (IT), the drive for innovation is essential to maintaining a competitive edge. For IT companies engaged in developing new technologies or improving existing ones, Research and Development (R&D) tax credits offer a significant financial benefit. Understanding and leveraging these credits can provide substantial support to ongoing innovation efforts. […]
How NTG Mutual Section 174 Coverage is Solving Cash-Flow Issues for Businesses Claiming R&D Tax Credits
As tax regulations continue to evolve, businesses engaged in research and development (R&D) are facing new and complex challenges. The recent changes in the treatment of R&D expenses, especially under Section 174 of the Tax Cuts and Jobs Act of 2017, have created a significant financial strain for companies. Many are left wondering how to […]
10 Tips to successfully claim the R&D Tax Credit in 2024
Research and Development (R&D) tax credit is a valuable financial incentive for businesses engaged in innovative projects. In the United States, these credits encourage companies to invest in R&D by offering substantial tax savings. However, navigating the complexities of the R&D tax credit claim process can be challenging. To maximize your claim and ensure a […]
Update on Uncertainty: The Future of the R&D Credit
In a pivotal moment early last month, the Senate blocked bipartisan legislation that aimed to restore and expand key business tax provisions, including the vital research and development (R&D) tax credit. This vote has left American businesses in a precarious position, as the tax package also sought to address bonus depreciation and interest expense limitations. […]
Unleashing the Power of R&D Tax Credits for Manufacturing Businesses
As a manufacturing business leader, you’re constantly striving to stay ahead of the competition and drive innovation. But are you fully leveraging one of the most powerful financial tools at your disposal? The Research and Development (R&D) Tax Credit is a game-changer that can significantly boost your bottom line, yet it’s often overlooked. Let’s dive […]
Leveraging the R&D Tax Credit in 2024
The Tax Relief for American Families and Workers Act presents significant opportunities for businesses, particularly those involved in research and development (R&D), to enhance competitiveness and drive innovation. By allowing immediate deductions for R&D investments, restoring full expensing for critical assets, increasing write-off thresholds for small businesses, and addressing various business-related expenses, the act aims to stimulate economic growth and job creation.
Revisions to Form 6765 R&D Credit
On September 15, the Internal Revenue Service shared proposed revisions to Form 6765, “Credit for Increasing Research Activities,” requesting stakeholder comments by October 31. These modifications might result in significant changes to the R&D Tax Credit from 2024 onwards, adding to the hardship faced by taxpayers filing to claim the federal credit. The agency […]
Leveraging R&D Credit For Small Businesses
Is your company attempting to improve current goods, processes, or software? Do you create new goods and processes as part of your regular operations? Have you modified, integrated, or produced goods based on customer specifications? The Research and Development Tax Credit may effectively reduce taxable income while providing immediate support for future discoveries. It remains […]
IRS Provides Clarity on 2024 R&D Tax Credit
In 2024, tax experts will face the difficult challenge of projecting future tax liabilities during an uncertain period. Some of the biggest concerns stem from the Tax Cuts and Jobs Act’s triad of business provisions and their future. The end of 2025 is when bonus depreciation, amortization of R&D expenses, and the cap on […]