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Research and Development Tax Credits for Design Firms
November 7, 2017 @ 8:00 am - 9:30 amFree
Presented by the AIBaltimore Practice Management Committee, Alternate Tax Solutions, and KatzAbosch
1 AIA/CES LU available
Presenters: Vernon Brokke, Brokke Group and Dina Bernstein, KatzAbosch
Coffee and continental breakfast will be provided
Today’s architectural firms have an almost endless amount of expertise and disciplines, with firms specializing in designing bridges to designing sustainable green spaces. What is interesting about the Research and Development Credit is that it potentially applies to almost all architecture firms, regardless of their specialty or focus.
The federal government has set aside $10 billion in annual tax savings for U.S. businesses to claim this incentive, but only 5-10% of businesses claim the credit. The vast majority of companies who qualify for the credit are either unaware it exists or, if they are aware it exists, incorrectly believe they do not meet the requirements. This misunderstanding is common amongst most companies across all industries, from software to distilled spirits.
Over the course of the presentation some the topics that will be covered:
• The Research & Development Credit’s history
• An explanation of the credit’s requirements and how to determine eligibility.
• “The Four Gates” of the Credit
• The characteristics of the Credit
• Types of work and activity that qualify as research and development
• Case studies of companies benefitting from the Research and Development
• How the credit can help young companies and start-ups.
• How the credit and help with tax planning and be an on the books asset.
Vernon Brokke, Brokke Group
Dina Bernstein, Katz Abosch