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Cracking the R&D Tax Credit Code: Section 41 Explained
Manage episode 484055934 series 3659469
محتوای ارائه شده توسط Earmark Media, Jeremy Wells, EA, and CPA. تمام محتوای پادکست شامل قسمت‌ها، گرافیک‌ها و توضیحات پادکست مستقیماً توسط Earmark Media, Jeremy Wells, EA, and CPA یا شریک پلتفرم پادکست آن‌ها آپلود و ارائه می‌شوند. اگر فکر می‌کنید شخصی بدون اجازه شما از اثر دارای حق نسخه‌برداری شما استفاده می‌کند، می‌توانید روندی که در اینجا شرح داده شده است را دنبال کنید.https://fa.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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This podcast is a production of the Earmark Media
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