Leveraging R&D Credit For Small Businesses
What Rising Demand for New Hampshire’s R&D Tax Credit Means for You
An increase in demand for R&D tax credits has taken New Hampshire by storm. Governor Chris Sununu recognized 2020 as a historic high in the volume of R&D credit business applications — resulting in a whopping 276 recipients. However, the rising demand for this tax credit has resulted in a smaller share for businesses. This year, […]
How to Further Develop Your Business Before 2021 Ends
The end of the year is quickly approaching. With only a few months left in 2021, improving your business should be at the forefront of your goals. There are many ways to achieve this success — from hiring the right people to figuring out a work schedule that best fits your business needs. However, the […]
Are You Making the Most of Your 179D Tax Deduction?
Are you missing out on a tax deduction? If you have recently started a new construction or renovation of a commercial property, you might be missing out on a big-money opportunity. The 179D energy-efficient tax deduction is a tax incentive that is available for newly constructed or renovated commercial buildings. Our experts at National Tax […]
Will 45L Be Extended at the End of 2021?
In 2005, the Internal Revenue Code added an internal revenue incentive called the Energy Efficient Home Credit, more commonly known as 45L. This incentive allowed “Eligible Contractors” to collect tax credits for the construction of energy-efficient homes. Eligible Contractors are categorized by the IRS as any trust, estate, partnership, company, or corporation that was in charge […]
How Architectural and Engineering Firms Can Qualify for R&D Tax Credits
Are you missing out on potential tax credits? While the technology, pharmaceutical, and manufacturing industries are thought of as the typical research and development (R&D) tax credit recipients, however, architectural and engineering firms can qualify, too. Through everyday activities where they continuously develop new and improved designs, concepts, and processes. The more qualifying activities you […]
7 Common Questions About the R&D Tax Credit
The U.S. Research and Development (R&D) Tax Credit was created in 1981 as an incentive for businesses to take risks and undergo research activities to develop and improve their products, processes, or software. Through the Economic Recovery Act of 1981, the R&D tax credit offers reimbursement for business activities and resources that were utilized during research. Navigating and understanding […]
Does Your Small Business Qualify for the R&D Tax Credit?
Are you a small business filing taxes for the first time? Or maybe you are a small business with a tight budget that might need some more support. The Research and Development (R&D) tax credit may be the answer you are looking for. No longer is the R&D tax credit just for lab coats and large corporations. A 2015 […]
Research and Development Tax Credit for Architecture Firms
The Research and Development tax credit is a federal incentive for all US Businesses that engage in research and development activities. Some businesses engage in these activities more than others, and architecture firms are among one of the top placeholders. Claiming these on your taxes will give you more money to reinvest in your business. […]
Companies Need to Amortize R&D Expenses
The Consolidated Appropriations Act of 2023 was passed late last year by Congress. This bill included funding for the federal government for the remainder of 2023 but left out the highly-anticipated tax extenders like Section 174 amortization requirements. With these tax extenders not passing, many people don’t know what to expect now. Well our tax […]