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How US R&D Tax Credits Can Increase Your Bottom Line

May 15 2016
By: boastcapital
Categories: News, R&D Tax
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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:

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Impact of the 2016 Canadian Federal Budget on Innovation Funding and SR&ED

Mar 22 2016
By: boastcapital
Categories: Innovation Funding, News, R&D Tax
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Canadian Federal Budget 2016

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.

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Is the Canada Revenue Agency listening? Recap of SR&ED Practitioners Session

Feb 24 2016
By: boastcapital
Categories: News, R&D Tax
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CRA Listening

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.

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  • About Us
    Boast Capital is a team of engineers and finance professionals with over 20 years experience helping companies in Canada and the U.S. successfully claim and maximize R&D tax credits.
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