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R&D Tax Credits: Calculation & Documentation
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| Date |
August 24, 2010
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| Location | German American Society, Omaha, NE |
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| Course Time |
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8:30 a.m. to 4:30 p.m. |
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Research & Development ("R&D") Tax Credits have been part of the U.S. tax system for almost 30 years. While these credits offer qualified companies a tremendous tax savings opportunity they continue to be vastly underutilized. The majority of companies claiming R&D credits have historically been manufacturing companies, however, opportunities exist for other types of business organizations to claim the credit. Because both the tax law and how some companies conduct business have changed over time, the R&D tax credit may offer significant income tax savings to companies providing technical services such as software development, engineering and contracting. This program provides what you need to know to confidently calculate, document and defend R&D tax credit claims.
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| Course Highlights & Objectives |
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This program covers C-Corp vs. S-Corp considerations when claiming R&D credits; Evaluating and establishing the "Fixed Base Percentage;" History of the R&D tax credit; How to establish a process for collecting contemporaneous documentation for the current tax year; Most recent changes to the R&D credit tax laws; and Should a company amend previous year's returns to claim credits?
You will learn how to Defend R&D tax credit claims in an IRS audit; Determine which credit calculation method is most beneficial for a company; Determine which expenses legitimately qualify for the credit; Document why projects and expenses qualify for the credit; Evaluate R&D credit potential for companies not previously claiming an R&D credit; Identify projects which qualify for the credit; Interview employees to identify projects and expenses qualifying for the credit; Maximize qualified research expenses; and Respond to IRS Information Document Requests for R&D expenditures. |
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| Who Should Attend |
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| CPA's in public practice or industry who want to learn the proper methodology and process for calculating and documenting R&D tax credit claims that will withstand the scrutiny of federal and state taxing authorities. |
| Course Level | Intermediate |
| Prerequisites | None |
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| Discussion Leader | Ron Antal, CPA, MST, Nichols Patrick CPE, Inc. |
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| Additional Information: |
Parking is available on site and lunch is provided. |
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| Fee |
$230 - Society Member
$260 - Society Nonmember |
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