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Offset Payroll & Income Tax Using The R&D Tax Credit (FREE)

  • UMass Dartmouth Center for Innovation & Entrepreneurship 151 Martine Street Fall River, MA 02723 (map)

DESCRIPTION

Join Ed Craig (President) and Adam Mathes (Vice President) of EF Cost Recovery for an overview of how companies can claim the R&D Tax Credit without ANY heavy lifting. 

The R&D tax credit is valuable to small, midsize, and early-stage businesses to offset personal and/or company income tax. Many taxpayers regard R&D as an activity associated solely with hi-tech businesses, such as pharmaceutical and biotech companies. That is simply not the case. You do not have to be engaged in pure science or similar research to be conducting qualified activities as defined by the Internal Revenue Code.

Companies in the following industries qualify for this lucrative tax credit: Architecture, Aerospace, Agriculture, Automotive, Biotech, Chemical, Electronics, Engineering, Food Science, Food Processing, Forestry, Manufacturing, Hardware, Pharmaceuticals, Semiconductor, Machine Shops, Job Shops, Software, Telecom, Beer/Wine Making and more…..

Historically used only for offsetting income tax, the credit can now be used to offset payroll tax—either instead of, or in addition to income tax. 

EF Cost Recovery performs more than 150 R&D tax credit studies annually. They examine a company’s activities to identify expenses eligible for R&D incentives, then assemble the proper documentation to support the claim, and work with the companies CPA to ensure all IRS required documents are filed properly. Their typical client receives an average R&D Tax Credit of approximately $60,000 per $1Million of payroll.

For more information, contact Trai Dang at tdang@umassd.edu

Earlier Event: February 9
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