The US Research & Experimentation Tax Credit or R&D Tax Credit is a general business tax credit under Internal Revenue Code section 41 for companies that incur research and development (R&D) costs in the United States. The US R&D tax credit has been around since 1981.
However, it has never been permanent – it would periodically expire and be renewed by Congress. Companies wishing to include this in their long-term budgeting plans couldn’t count on the credit being around for certain. Additionally, many companies couldn’t benefit from the credit since they didn’t owe federal income tax or were subject to the alternative minimum tax (AMT).
In 2015, the Congress made the R&D tax credit permanent and also made key changes so that more companies can benefit from the credit. Here is a summary of those changes:
The Canadian Liberal Finance Minister tabled his first federal budget on March 22, 2016. The focus was on economic growth and job creation as promised during the Liberal election campaign. So no big surprises in the budget but there were some surprising consequences to meeting the election promises, mainly the 3x larger budget deficit which ballooned to $29.4 billion dollars for 2017 fiscal year.
The budget focused on economic growth, job creation and a strong middle class, the minister outlined plans to make investments in infrastructure, health care, postsecondary education, innovation, clean energy, and to introduce a Canada Child Benefit program.
Date: Thursday, March 24, 2016 from 11 – 12pm PST
You have founded your company and raised capital. Now it is time to operate your business. What are the legal aspects that you need to pay attention to?
This webinar will cover the knowledge and tools you need to make decisions and manage your business successfully, including:
Are you frustrated with the CRA’s administration of the SR&ED program? Do you have issues with how the review of your last SR&ED claim turned out? You are not alone and there is hope! The CRA is listening, now lets see if they follow through.
The Boast Capital team had the privilege of attending a SR&ED practitioners’ session hosted by the CRA and had the opportunity to listen to directors of the SR&ED department from Ottawa and regional directors and managers within the SR&ED department. SR&ED practitioners from many different firms were invited to listen to the CRA and participate in a Q&A session.
Date: Thursday, Feb 25, 2016 from 11 – 12pm PST
Running a business requires capital, but how do you determine which funding option is the best fit? Gain the knowledge and tools you need to make decisions regarding financing sources and avoid common pitfalls. Specifically you will learn: