Apr 5, 2017 – Businesses claimed over $11 billion in federal research & development tax credits in one year, according to recently released IRS statistics. These credits are available to businesses in a wide array of industries, and new rules make it easier than ever before to derive a benefit from this credit. Are you paying too much in taxes by not considering R&D?
In today’s installment of Dopkins Research & Development video series, Tax Team members Bob Bauer and Eric Soro look at the 4-part test put in place by the Internal Revenue Service for verification if a business activity qualifies for R&D tax credits.
About the Author
Eric R. Soro CPA
Eric, a Tax Advisory Group Manager, embraces the challenges of taxes and puts them to work for the client. He focuses on every aspect of a client's needs, from preparing top-level corporate and partnership returns through to the culmination of member and shareholder individual returns. Taking into account the ever changing tax laws, Eric researches the complex topics that affect his client's taxes so that he may efficiently plan his process and yield the optimal results. He joined Dopkins as an intern in 2006 then full-time in 2007 upon graduation.