Did you know that if you’re a start-up company with annual gross receipts less than $5 million you can reduce your 2017 labor costs by up to 6.2%?
The Federal R&D tax credit is a dollar-for-dollar reduction of federal income tax liability for qualified expenditures incident to the development or improvement of a product, process, software, formula, or invention recently made permanent by The Protecting Americans from Tax Hikes Act of 2015 (PATH Act).
Previously, a company had to actually generate a profit and taxable income to utilize the R&D tax credit. The PATH Act allows start-up companies who haven’t generated federal …read more
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