Smaller Business Association of New England Panel Discussion

The Smaller Business Association of New England has invited us to speak at a panel discussion at the Waltham Westin hotel in Waltham, MA on April 29th, 2015 at 7:30 AM. We will be sharing the stage with another tax credit firm. We visited last year, and you can even see us in this video […]

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Federal Research Credit Extended through December 31, 2014 (HR 5771 and S 83)

UPDATE: President Obama has signed the bill. Good News! The federal Research Credit has been extended through 2014! As one of its final acts, the 113th Congress passed the “Extenders Bill”, providing continuing support for the federal Investment Tax Credit for Increasing Research Activities (the §41 Research Credit) through the end of this year on […]

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Breaking News: Senate to Vote on R&D Tax Credit

The Senate is due to vote on the “Extenders Bill” which would provide continuing support for specific programs that expired at the beginning of the year, including the IRC Section 41 Research Credit. As of 10am EST on Monday, December 15, 2014, the vote was anticipated on or before Thursday, December 18th. The  enabling house […]

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The 2014 Northeast Lean Conference

On October 1 and 2, Tax Credit Advisors attended the 2014 Northeast Lean Conference in Springfield. It was truly a pleasure to gather again with out friends at GBMP for their annual conference celebrating Lean Manufacturing and related process technology development. We saw some old friends and made some new ones. Maybe we’ll see you […]

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Development Tax Credits: Renewal and Expansion

If your business regularly files for research and development tax credits, you may already be aware that the federal credit expired yet again at the end of 2013. We at TCA anticipate that the federal credit will be renewed for 2015 and will also be extended retroactively for 2014, as has always happened in the […]

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CRA Continues Support for SR&ED Claims

Canada Revenue Agency continues to issue new guidance regarding requirements for submission of supporting documents relating to claims for tax credit support. Recent regulatory changes have provided new guidance for those seeking to claim benefits. For example, the requirement for separate and distinct reports to be submitted for each and every project claimed has been […]

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Research Credit Extended Through 2013

As part of the “fiscal cliff” legislation passed in January, the federal Research Credit was extended through December 31, 2013. The bill also extended several other expiring provisions of the tax code. This is the 15th time that the Research and Development tax credit has been renewed since its inception in 1981. President Barack Obama […]

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Appeals Court Eases Rules on Qualified Research Expenses

The United States Court of Appeals for the 5th Circuit issued a ruling on June 9, 2009 that directs a lower court to ease interpretation of IRS rules on research credit calculation, and particularly endorses the use of reasonable estimates when precise cost figures are not available. In USA v. McFerrin, the IRS claimed that […]

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CRA Now Requires More Information About Claim Preparation

As part of an ongoing and important effort to ensure that government incentives are properly allocated, CRA guidance issued in March, 2013 clarifies that all claimants must declare whether they employed a consultant to help with their SR&ED claim preparation, and if so, to name that consultant. This action is in direct response to observed […]

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CRA Announces New Claim Procedure

CRA has recently implemented a new Form T661, along with modified instructions. By making it easier for businesses to apply for the SR&ED tax credit, it hopes to encourage Canadian research. The SR&ED program is now offering a web based eligibility self-assessment tool and has also produced updated electronic and printed information for new and […]

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