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Cracking the R&D Tax Credit Code: Section 41 Explained
Manage episode 484055934 series 3659469
المحتوى المقدم من Earmark Media, Jeremy Wells, EA, and CPA. يتم تحميل جميع محتويات البودكاست بما في ذلك الحلقات والرسومات وأوصاف البودكاست وتقديمها مباشرة بواسطة Earmark Media, Jeremy Wells, EA, and CPA أو شريك منصة البودكاست الخاص بهم. إذا كنت تعتقد أن شخصًا ما يستخدم عملك المحمي بحقوق الطبع والنشر دون إذنك، فيمكنك اتباع العملية الموضحة هنا https://ar.player.fm/legal.
The R&D tax credit offers significant tax-saving potential, yet remains misunderstood by many small business owners and their advisors. Jeremy breaks down the key components of the Section 41 credit, explaining qualified research activities, eligible expenses, and calculation methods. Small service-based businesses might qualify more often than they realize, especially when research activities relate to technological innovation, computer science, or engineering processes.
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- (00:00) - Introduction to the R&D Credit
- (03:00) - Components of the R&D Credit
- (06:00) - Defining Qualified Research
- (13:00) - Business Components and the Shrinking Back Rule
- (21:35) - Non-Qualifying Research Activities
- (25:35) - Internal Software and the High Threshold of Innovation Test
- (30:35) - Calculating the R&D Credit
- (33:35) - Qualifying Wages and Expenses
- (39:35) - Contract Research Expenses
- (44:35) - Credit Calculation Methods
- (50:35) - Payroll Tax Election for Startups
- (52:35) - Interaction with IRC Section 174
- (54:35) - Special Rules for Partnerships
- (57:35) - Common Myths and Final Thoughts
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https://www.linkedin.com/in/jwellstax
https://www.steadfastbookkeeping.com
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