Changes to the R&D tax credit prove helpful for businesses

Written on Oct 26, 2017

CPA VoiceFor a taxpayer to benefit from the R&D credit before 2016 they had to have a tax liability. “Today, the research credit may now be utilized to reduce a portion of a qualifying small business’ payroll taxes,” writes Michael Krajcer, CPA, in the September/October issue of CPA Voice. “Thus affording those without an income tax liability a means to benefit currently from the credit.”

Krajcer, the president of Tax Credits Group, goes on to say that without this provision, the only other option was to wait for the business to incur an income tax liability during the 20-year carryover period of the credit.

Read the article now to learn more about provisions of the credit and the final IRS regulations for internal use software.

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September/October 2017 Exam

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