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2016 Updates to the R&D Tax Credit

2016 Updates to the R&D Tax Credit Image
2016 Updates to the R&D Tax Credit In December of 2015, Congress permanently extended the R&D tax credit through the Protecting Americans from Tax Hikes (PATH) Act.  The Act contains several exciting updates to the R&D credit, including offsets to Alternative Minimum Tax (AMT) and payroll tax for eligible taxpayers.  Beginning in tax year 2016, new businesses and start-up companies ...
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R&D Tax Credit Becomes Permanent

The end of last week marked an important milestone in the history of the R&D tax credit. On Thursday, the 17th of December, the Tax Extenders bill was approved by Congress after which it made its rounds to the Senate and ultimately to the desk of the President. With the approval of the bill came several huge changes to the R&D credit, all of which are very favorable for taxpayers. The firs...
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Research Credit Awaits Renewal

The research credit is still not a part of the permanent tax code and as such, taxpayers are still anxiously awaiting Congressional approval amid an IRS warning that further delays could result in problems as filing deadlines quickly approach. Based on the projected budget for the package of 50+ tax breaks for taxpayers, the research credit (a.k.a. the Credit for Increasing Research Activities) ha...
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The MAGIC Convention: Gateway to Fashion

Eyes turn to Las Vegas today where the world famous MAGIC convention for fashion kicked off its week of fashion madness. Over 80,000 attendees make it to the convention and is widely known as the most influential show in the fashion industry. Las Vegas has been home to the MAGIC Marketplace since 1989, and has a rich history in the desert gambling oasis. The MAGIC convention is projected to gen...
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Companies Still Waiting on R&D Credit Renewal

In the 30+ years that the R&D tax credit has been around, it has only lapsed once. And yet, every other year taxpayers wait in anticipation for it to be extended as it moves at a snail's pace through our legislative system. Last month, the Senate Finance Committee advanced a bill that included the extension of the R&D tax credit in addition to some major changes. Unfortunately, as always t...
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