If innovation is instrumental in moving the country forward, then the R&D tax credit is helping to pave the way. While you might think you’ll need lab coats and microscopes to qualify, the research and development tax credit is broad enough to fit a variety of industries. And with more than $18 billion in research and tax credits reported in 2019, it’s clear there are potentially huge savings to be had.
Don’t miss out on the R&D tax credit.
To talk more about the specifics of the R&D tax credit and how it works, Kelly is joined by Ari Palmer-Salafia, the CEO and founder of TaxTaker. Ari and her company have helped guide innovative businesses to these massive tax credits, giving her insight on who qualifies, how the IRS embraces it, and what can be deducted.
Listen to Kelly and Ari talk about the R&D tax credit:
- What is the research and development tax credit?
- How broad the tax credit actually is
- The various industries that are claiming the research and development tax credit
- What expenses are included in the R&D tax credit
- Why are more companies not taking advantage of the tax credit?
- How to know if you qualify for the R&D tax credit?
- How to file for the research and development tax credit
- What TaxTaker offers businesses
- Is the IRS embracing the tax credit?
- How the research and development tax credit works on your taxes
More about Kelly:
Kelly Phillips Erb created and hosts the Taxgirl podcast, your home for tax news, tax info, and tax policy. In each episode, she shares conversations about taxes, money, and the choices we make. Kelly is a tax attorney who works with taxpayers and tax practitioners like you every day. She helps folks out of tax jams, and hopefully, keeps others from getting into them.
To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here.
Kelly’s Website: Taxgirl