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Why All Businesses Need to Know More about the R&D Tax Credit

WHY ALL BUSINESSES NEED TO KNOW MORE ABOUT THE R&D TAX CREDIT

Cost Free
Presentation Length 1.0 hour

Recorded DateJune 9, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Are you missing out on significant cash flow that can help your client's business grow multifold? Your tax clients expect you to provide guidance and advice that lead them to where growth opportunities lie — increasing their ability to make profitable business decisions. Many CPAs focus on performing tax accounting only as protocol demands and overlook longstanding tax incentives such as the Research & Development (R&D)Tax Credit as a way to put cash flow back into the business and minimize the tax burden.

The R&D tax credit is one of the most powerful incentives in the tax code. Due to the broad definition of “qualified research,” businesses in nearly every industry take advantage of the credit. The R&D tax credit is based on “qualified research expenses” (QREs) – for every dollar spent on QREs, you can earn up to 8.0% in federal tax credits! Additionally, over 40 states offer similar R&D tax incentives that can double benefits in some cases.

As a game-changing tax credit, the R&D tax credit provides federal and, in most cases, state tax credits for efforts centered around developing new and improved products, processes, techniques, software, formulas, or inventions. The new permanent research tax credit provides unique opportunities for small businesses to reduce or eliminate the Alternative Minimum Tax (AMT). 

Learning Objectives:


  • Recall the 4-part test for the R&D tax credit

  • Identify R&D activities performed and the associated qualified research expenditures

  • Identify qualifying projects & the exclusions

  • Identify the common misconceptions about R&D tax credits

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PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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Brayn

Jason joined BRAYN Consulting LLC in 2018. As a business management professional, Jason has over 15 years of experience with treasury management, internal audit consulting, project accounting, financial reporting, and managing sales teams. Jason is a skilled leader with demonstrated ability to effectively achieve process improvement, manage change, and create diverse, cross-functional, quality-driven teams to implement corporate-wide improvements.

Jason obtained a BS in Accounting from LSU and an MBA from Sam Houston State University. Jason currently holds a license as a Certified Treasury Professional, CTP.

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Brayn

Brady is the founder and CEO of BRAYN Consulting LLC. His mantra is, “How can I make my clients’ lives easier?” This fundamental question directs his constant efforts and the direction of BRAYN. THehas made BRAYN a sleek, technology-driven, quality-focused organization that brings optimal value to clients. Through vision and heavy investment into technology and infrastructure, Brady is a staunch advocate of adding value to clients through tax credits and incentives and supporting businesses in a continuous process and quality improvement initiatives.

Starting in Houston roughnecking in the oilfield, Brady worked his way through college and was promoted through various positions at the oil & gas company, where he worked for ten years. He achieved his BBA in Management from Sam Houston State University, his Juris Doctor of Laws from Southwestern Law School, and is licensed to practice law in California and Texas. After law school, Brady worked at Deloitte for several years in the R&D tax group before founding BRAYN in 2010.

Under Brady's direction, BRAYN now serves clients nationwide in industries such as architecture, construction, engineering, software, manufacturing, biomedical and pharmaceutical, food and beverage, real estate, and energy. He has brought together a team of professionals with a wealth of experience. The BRAYNiacs are lawyers, engineers, and accountants with extensive industry experience hailing from Big-4 and other national consulting firms.

About Our Presenter

Brayn
BRAYN is a niche consulting firm that guides businesses to greater value through tax credits and incentives, such as R&D Tax Credits, Cost Segregation, 179D, 45L, and Fuel Tax Recovery. The BRAYNiacs are a team of lawyers, engineers, and accountants with extensive industry experience hailing from Big-4 and other national consulting firms. We work collaboratively with your CPA firm to assist in the review, documentation, and substantiation of the tax incentives specific to your business. At BRAYN, we focus on building quality relationships where we are a key partner in driving business prosperity.