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COVID Relief Act (CAA): What Does it Mean for R&D Tax Credits, 179D, and 45L?

4.6 (70)

Jason Villere

BRAYN Consulting LLC

Thursday, January 28, 2021 | 02:00 PM EDT

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CTEC

1 Credit

FREE

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

1 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-U-00371-21-O)

1 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0372)

1 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

1 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-U-00371-21-O)

1 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-U-00371-21-O)

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

COVID Relief Bill Huge Win for Businesses!

The research and development (R&D) tax credit is one of the most significant and often misunderstood, incentives in the U.S. tax code. In a time when businesses are struggling to find the cash necessary to survive until the economy returns to its new normal, those who might qualify should take a closer look at eligibility, and those who have previously qualified need to understand how some of the COVID-19 relief legislation may interact with previous claims.

President Trump signed the Consolidated Appropriations Act of 2021 (CAA) into law Sunday, December 27. The CAA included a host of individual, business, payroll, disaster, and energy-related tax provisions, as well as two key tax extenders: 

The 179D Energy Efficient Commercial Building Deduction was made PERMANENT

The 45L Energy Efficient Homes Credit was extended through 2021! 

179D allows a deduction of up to $1.80/SF for new and renovated buildings and applies to private commercial property owners and designers/contractors working on publicly-owned properties. 45L allows a $1,000 or $2,000 tax credit to builders of energy-efficient homes and apartments meeting certain qualifying criteria. Additionally, the CAA clarifies that taxpayers whose PPP loans are forgiven are allowed deductions for otherwise deductible expenses paid with the proceeds of a PPP loan. Companies claiming the federal R&D tax credit can breathe a sigh of relief given that qualified research expenses must be capable of treatment as a Section 174 expense.

In this webinar, BRAYN's Director, Jason Villere, will cover what this means specifically for your business and how to maximize these highly lucrative tax credits and deductions.

Learning Objectives

  • To list the latest technical updates related to the R&D tax credit
  • To identify R&D tax credit opportunities and concerns in specific scenarios
  • To determine the latest guidance related to the interaction of the R&D tax credit and PPP loan forgiveness
  • To recall the nature and benefits of the R&D tax credit

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Testimonial

Array
(
    [no_of_record] => 70
    [average] => 4.6000
)
 

4.6

(70)
66%
29%
6%
0%
0%

CH

good

RC

The presentation on Employee Retention Credit is detailed and clear.

ZB

Very beneficial

AD

Enthusiastic instructors.

GMJ

thanks!

ST

N/a