THE R&D TAX CREDIT : A STRATEGIC TAX ADVANTAGE
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Course Details

Overview of Topics

  • History of the R&D Tax Credit20 mins
  • Which are the Qualifying Research Activities?25 mins
  • Which are the Qualifying Research Expenses for R&D Tax Credit?33 mins
  • Key Methods for Computing the Credit40 mins
  • PATH Act and The Tax Cuts and Jobs Act Updates48 mins
  • Which are the IRS Audit Concerns?56 mins

Why You Should Attend ?

If you have relationships with small and medium size business owners this is a great opportunity to add serious value to your current job or practice.

Course Description

DO NOT LEAVE MONEY ON THE TABLE WITH UNCLAIMED R&D TAX CREDITS

For many years the Research & Development (R&D) tax credit was constantly at risk, making it hard for companies to plan their future R&D activities to take advantage of this powerful tax inventive. Tax law changes since 2016 have not only made the federal R&D tax incentive permanent but have also expanded the benefits, especially for smaller businesses.

Code Section 41 Research and Development tax credit provides significant bottom-line benefits to taxpayers who take advantage of it. The Research & Development (R&D) Tax Credit was created to help businesses engaged in qualified research activities. However, many taxpayers are not claiming or are under-claiming the R&D tax credit. 

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. Thus, as an accounting professional you can help the companies of all sizes including startups and small companies to make to claim their tax credit and help them in offsetting federal taxes dollar for dollar. 

This 1-hour FREE webinar is for all the accounting professionals who have limited knowledge of R&D tax credit. This webinar would cover
  • A brief history of the research tax credit. 
  • Which Research Activities qualifies for the tax credit.
  • Which Research Expenses qualifies for the tax credit. 
  • Different methods for computing credit & benefits.
  • Tax update on R&D Tax credits
  • IRS Audit concerns.

Learning objectives

  • Identify the key factors for identifying qualified R&D activities and expenditures
  • Learn how the R&D tax credit is calculated using two methods
  • Learn about the new regulations for small businesses – AMT & payroll tax offset
  • Discover how R&D tax credits can benefit your clients

About Presenter

Steve Powers, MBA

President,Intrepid Advisors LLC

spowers@intrepid-advisors.com

Steve Powers became President and owner of Intrepid Advisors early in 2009, following many years serving as the Managing Director while the company operated as CCR Cost Recovery Services, a subsidiary of Carlin Charron & Rosen LP.  Prior to his joining Intrepid Advisors, Steve held a position as VP of Engineering as O.S. Walker of Worcester, MA where he gained valuable manufacturing and product development experience. Steve has expert-level knowledge regarding the IRS regulations for federal and state research credits and has successfully supported his clients through hundreds of audits.

Intrepid Advisors is a specialized business consulting firm offering expertise and advisory services regarding the federal and state research and development tax credits to manufacturing and technology companies.
Over the past 25 years, Intrepid Advisors has been highly successful in obtaining the maximum allowable R&D Tax Credits for our clients who are located in both the United States and Canada. Our outstanding success rate, which speaks for itself, stems from our extensive knowledge and experience relating to the tax regulations associated with the R&D tax credits, and our expert staff comprised of senior engineers, scientists, tax accountants and other technical advisors who have worked in a variety of industries.

Review Questions

  • Question 1 : 00:17
  • Question 2 : 00:35
  • Question 3 : 00:55
  1. What were the reasons for R&D credit establishment in 1981 ?
  2. According to the Regular Credit (RC) Method of calculating Research and Development Tax Credit, the credit amount is capped at ____ % of the Qualified Research Expenditure?
  3. According to FICA Tax offset rules, the maximum amount of payroll offset allowed is limited to ______.
  1. According to Technological in Nature Test, the activities performed for the qualifying research activities must rely on which of the following principles?
  2. Which one of the following expenses would not be qualified research employee wages?
  3. According to the Alternative Simplified Credit (ASC) Method of calculating Research and Development Tax Credit, the base amount is equal to which one of the following?
  4. For the Research and Development Tax Credits under AMT offset. which one of the following cannot be the eligible small business?
  5. Which one of the following is an IRS audit concern for a business applying for Research and Development Tax Credits?

FAQ

  • myCPE self-study courses are online.
  • The self-study format allows you to access the material online 24/7 and study at your own pace.
  • As per NASBA guidelines, you have one year from date of registration to complete each program.
  • Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
  • Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
  • Upon achieving a passing score, test takers will be notified of the correct answers to the questions missed.
  • These are Live recorded presentations converted into Self Study (On-Demand Videos).

Refund/Cancellation Policy

  • For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
  • Please email to   help@my-cpe.com  in case of any self study program queries.

Reviews

4.5
(260)
63%
27%
8%
1%
1%
  • CT
    Constance Trojanowski , CPA
    Jan 23rd 2020
    Great that we can log in and out to finish recorded webinar if we need to and we do not lose our progressed time
KG
Kenneth Guilfoyle , CPA
excellent
ER
Edward Robles , EA
Good info.
WW
William Weber , EA
Good
JB
Jay Bauer , Attorney
excellent
SP
Shena Potter , CPA
Excellent

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On-Demand Webinars

CARES ACT: NOL CHANGES (UPDATED LATEST)
Friday, July 03, 2020 View Details/Register
UNDERSTANDING & ADOPTING THE NEW REVENUE RECOGNITION STANDARD
Thursday, July 02, 2020 View Details/Register
FRAUD ESSENTIALS: WHO? HOW? WHY? WHAT?
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ARE YOU INDEPENDENT WHEN YOU NEED TO BE? UNDERSTANDING RECENT CHANGES TO THE AICPA CODE OF PROFESSIONAL CONDUCT
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TAX UPDATE : FCCA 2020 & SECURE ACT. (COVID-19)
Friday, June 26, 2020 View Details/Register
IRS FORM 1099 REPORTING REQ. INCLUDING UPDATES ON FORM 1099-NEC (LATEST 2020)
Thursday, June 25, 2020 View Details/Register
FEDERAL TAX UPDATE: COMPREHENSIVE INDIVIDUAL TAX (FORM 1040)
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR UTAH CPAS
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A BASIC ETHICS GUIDEBOOK FOR MINNESOTA CPAS
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A BASIC ETHICS GUIDEBOOK FOR CONNECTICUT CPAS
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A BASIC ETHICS GUIDEBOOK FOR ARIZONA CPAS
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MAXIMIZE YOUR SAVINGS POTENTIAL THROUGH HEALTH SAVINGS ACCOUNTS (HSAS)
Monday, June 22, 2020 View Details/Register
Arizona Specific Ethics (Part 1)
Monday, June 22, 2020 View Details/Register
  • Cost FREE
  • CPE Credits 1
  • CE Credits 1
  • IRS Course ID GEHNZ-T-00045-19-S
  • CTEC Course ID 6273-CE-0097
  • Subject Area Taxes
  • Course Level Basic
  • Instructional Method QAS Self Study
  • Prerequisites None
  • Advanced Preparation None
  • Recorded Date October 18 ,2019
  • Published Date December 27 ,2019
  • Who should attend? Tax Practitioners Accountant CFO/Controller Business Owner CPA - Small Firm CPA - Mid Size Firm Accounting Firm Tax Pros Auditors Tax Firm Young CPA Entrepreneurial CPA Outsourced CFO Accounting Practice Owners
  • Handout Material Download
  • Key Terms Download

On-Demand Webinars

CARES ACT: NOL CHANGES (UPDATED LATEST)
Friday, July 03, 2020 View Details/Register
UNDERSTANDING & ADOPTING THE NEW REVENUE RECOGNITION STANDARD
Thursday, July 02, 2020 View Details/Register
FRAUD ESSENTIALS: WHO? HOW? WHY? WHAT?
Thursday, July 02, 2020 View Details/Register
PRACTICAL APPROACHES TO PERFORMING EFFICIENT & EFFECTIVE SSARS ENGAGEMENTS (COMPILATION AND REVIEW)
Thursday, July 02, 2020 View Details/Register
ARE YOU INDEPENDENT WHEN YOU NEED TO BE? UNDERSTANDING RECENT CHANGES TO THE AICPA CODE OF PROFESSIONAL CONDUCT
Thursday, July 02, 2020 View Details/Register
TAX UPDATE : FCCA 2020 & SECURE ACT. (COVID-19)
Friday, June 26, 2020 View Details/Register
IRS FORM 1099 REPORTING REQ. INCLUDING UPDATES ON FORM 1099-NEC (LATEST 2020)
Thursday, June 25, 2020 View Details/Register
FEDERAL TAX UPDATE: COMPREHENSIVE INDIVIDUAL TAX (FORM 1040)
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR UTAH CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR MISSISSIPPI CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR MINNESOTA CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR CONNECTICUT CPAS
Thursday, June 25, 2020 View Details/Register
A BASIC ETHICS GUIDEBOOK FOR ARIZONA CPAS
Thursday, June 25, 2020 View Details/Register
MAXIMIZE YOUR SAVINGS POTENTIAL THROUGH HEALTH SAVINGS ACCOUNTS (HSAS)
Monday, June 22, 2020 View Details/Register
Arizona Specific Ethics (Part 1)
Monday, June 22, 2020 View Details/Register