We were delighted to have such a great turnout at our recent roundtable. Our speakers did a phenomenal job and brought some incredible information.
The next R&D Tax Credit Roundtable will take place on Thursday, September 6th at
Jason travels around the country speaking to TEI groups, consulting on R&D studies, and studying best practices of some of the largest taxpayers in the country. His first topic was to promote the BNA/Bloomberg R&D tax credit Symposium.
Jason also discussed that some taxpayers are finding the LB&I Directive to result in larger credits than under the regular method. These situations are primarily limited to software companies. The analysis can be helpful to go through even if your company does not believe they will qualify or won’t receive a larger benefit. Example, Jason recently worked with a taxpayer, a software company, and discovered that many engineers in ASC 730 departments WERE NOT included in the time tracking for QRE wages under the regular method. The tax people preparing the study for the company thought all engineers tracked time. The discovery of this pocket of engineers is going to substantially increase the credit under the regular method, allow them to go back and amend for prior years, resulting in substantial benefits. This was an unintended consequence of doing the Directive analysis, but the company is very pleased with the results. Jason’s advice is for every taxpayer to model the benefits under both methods. Please seek out Jason if you need assistance with this area at email@example.com.
For those who have asked for the information that was shared and for those who weren't able to attend, attached is a roundtable recap. Click the link to download the full presentation: 2018-Q2RoundtableRecap81018