42: Everything You Need To Know About R&D Tax Credits
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 R&D 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 massive R&D tax creditTo 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 the 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 an R&D 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
Kelly is the creator and host of the new Taxgirl podcast series. Kelly is a practicing tax attorney with considerable experience and knowledge. She works with taxpayers like you every day. One of the things that she does is help folks out of tax jams, and hopefully, keep others from getting into them.
Links mentioned:Kelly’s Website – Taxgirl
TaxTaker - Website
TaxTaker - Twitter
