The Research and Development Tax Credit can be extremely lucrative for a startup, especially now that it’s been expanded. Anders Partner + Tax Dave Finklang explains how the R&D tax credits can create opportunities for startups in a recent article for the St. Louis Business Journal’s St. Louis Inno platform.
In the article, Dave details the qualifications a startup needs to apply for the tax credit, including the test from the IRS to help companies determine whether or not they qualify. “If a company continually manufactures, researches or engineers new processes and products, they may qualify,” Dave writes. He also describes ways in which companies could potentially strengthen their proof of qualification to the IRS.
Read the full article for more of Dave’s insights: How your company could benefit from the Inflation Reduction Act’s newly expanded research and development tax credit.
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