New Guidance from the IRS Makes Claiming R&D Credits More Complex

At a glance The main takeaway: Taxpayers wishing to claim research and development (R&D) credits for expenditures made in previous years are now required to provide very specific, detailed supporting documentation to retroactively claim those credits on amended tax returns. Impact on your business: While the new guidance aims to create more efficient tax administration, taxpayers who…

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The Pulse on the Economy and Capital Markets: Nov 29 – Dec 3, 2021

At a glance: Overall, the markets struggled with commodities and crypto declining and Bitcoin fell 15 percent over the weekend. The defensive nature of the bond markets makes them the MVP over the last week. Investors are keeping an eye on how the Federal Reserve will address inflation. Technology markets saw semiconductors hold on strong…

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R&D Expenses Under the Build Back Better Act

At a glance The main takeaway: Venture Capitalists, private equity firms and companies who heavily invest in R&D may face increased compliance from the proposed Build Bact Better Act. Impact on you and your business: For now, U.S. taxpayers might receive a five-year reprieve on the new R&D amortization requirement, but changes are expected on future tax…

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Does your Dental Practice Qualify for the R&D Tax Credit?

At a glance: The main takeaway: The R&D Tax Credit provides a lucrative benefit to any company that’s developing or improving products, processes, and techniques – even dental practices may qualify. How dental differs: Dental practices that develop new techniques, improve procedural processes, implement new technologies, or conduct innovative research are likely to qualify. Next steps: Read more…

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Infrastructure Investment Jobs Act and Build Back Better Act: What’s in these Bills and the Impact on You and Your Business

At a glance: The Infrastructure Investment Jobs Act passed by Congress on November 5, 2021 has been sent to President Biden to sign. Learn about the incentives included and how they may benefit you and who will pay for the benefits. Learn about the new crypto filing requirements that will impact everyone involved in investing…

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Breaking: IRS Introduces New Rules for R&D Tax Credit Refunds

At a glance: Big changes to R&D Tax Credits on the horizon: In a release published Friday, October 15, the IRS introduced significant new documentation requirements for businesses seeking R&D tax credit refunds. Changing the burden of proof: The memorandum announced that R&D refund claims must include written supporting documentation, which the IRS will review to…

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