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Can Farmers Take Advantage of R&D Tax Credits?

Farms and farmers often feel the squeeze when it comes to cost. Farmers are some of the hardest working Americans who often get left out when tax bills are changed or amended. Many farmers are receiving smaller farm bills, and funds are constrained. Is there any reprieve for farmers in research and development (R&D) tax credits?

The answer is unequivocally yes. Many farmers and farm owners who are experimenting with new methods and processes fail to claim the research and development tax credits for which they may be eligible. Whether they are uninformed about R&D tax credits or think they do not qualify, it’s important to understand that with diminishing profits from farms and agriculture, now more than even farmers and farm owners need to take advantage of R&D tax credits.

Farm Pickup Truck

No matter how big or small your agricultural business may be, experimental development of farming methods, equipment and growing methods can qualify for tax credit support. The important thing is that you must be attempting to expand the technological base through experimentation. With claimed tax credits, farmers can expand their business, buy newer or more equipment, pay for more help, and really stretch their dollars.

The problem is when people read “research and development”, the first thing that comes to mind is big pharmaceutical companies and scientific divisions that work in labs researching day in and day out. We cannot stress enough that the definition of research and development is far broader than just people in lab coats. Research and development can stretch to many different areas of innovation, such as experimental development of new methods, processes or equipment. For example, a dairy farmer may try to develop an improved milking methodology or cooling process for their dairy products. Expenditures for labor, materials consumed and contract engineering could qualify for research and development tax credits. It is important to note, however, that “off-the-shelf” purchases and capital equipment are not qualified under the US federal Research Credit. These benefits are all about experimental development of new or improved products, processes and equipment.


Research and development tax credits are specifically put into place to reward businesses who spend dollars to expand the field of technology by experimental means inside of the US rather than outsourcing that development activity. Business owners are urged to claim these R&D tax credits to help grow their company and to keep technologically based jobs here in the US.

Let us help you and your farming operation take advantage of research and development tax credits. Don’t leave money lying on the table. Contact Tax Credit Advisors today.

Cyber Security Hacking

Beef Up Your Cyber Security with R&D Tax Credits

It’s 2017. Everyone around you is using smart devices such as cell phones and virtual assistants. Along with these products, people are also using internet-enabled devices such as smart TVs, smart thermostats, smart light bulbs, and more. Even children’s toys can come internet enabled. This is what is called the Internet of Things (IoT).

Most high-level IoT devices such as gaming consoles or cell phones come with relatively high amounts of security to keep people out of your devices. However, many of the lower-level IoT devices such as smart TVs and smart bulbs can be shy of these security measures — whether it’s due to lack of space, lack of time, or lack of functionality in the device. That does not mean that hackers cannot take advantage of these devices, however. In fact, in October 2016 a hacker or group of hackers did just that, taking advantage of countless IoT devices to perform a distributed denial of service (DDoS) attack on a server company named Dyn who serves many websites.

Along with these cyber security fears, companies also often fear being hacked. Remember how HBO was hacked and blackmailed for Game of Thrones episodes? Or, even worse, earlier in the year when Equifax was hacked and millions of Americans were at risk for their information being stolen? The internet can be a scary place, and it’s important to protect yourself and your company against cyber attacks.

If you’re planning to adapt IoT devices into your business strategy or plan to market IoT devices to your customers, it’s important to make sure that those devices are secure. Since IoT breaches can lead to angry customers, you want to take that first step in making sure that your devices (and your customer’s devices) are secure, maintaining your business reputation and keeping your customers safe.

In addition, if your company is involved in developing new or improved products, processes or software in this area, you may be eligible for funding from federal and state research credit programs as well. Call us at 508-842-3232 to find out how.

We’re here to guide you to cost-saving measures that can help grow your business. If you’re ready for a consultation, contact Tax Credit Advisors today. Don’t leave money laying on the table — claim your tax credits today.

May is Small Business Month

Time to Review your Eligibility for Tax Credits

business people in a meeting at officeSmaller businesses are the ones who can benefit most from the permanent extension of the federal research credit, a change that will greatly enhance the value of the program for all companies. New provisions can offset the Alternative Minimum Tax as well as some payroll taxes. These two changes greatly expand the number of companies that can benefit from this important incentive program.

At Tax Credit Advisors, LLC, we have over 15 years of experience helping companies of all sizes to maximize their R&D tax credits.

Two major new provisions are of particular interest for small businesses:

1) Companies with annual sales revenues under $50 million can now use the credit to offset the Alternative Minimum Tax.

2) Companies with revenues under $5 million per year may be able to offset some payroll taxes, even if they have no taxable income from operations.

These changes greatly expand the number of companies that can benefit from this incentive program. Even if you haven’t been able to participate from this program in the past – or have assumed that your engineering, manufacturing, or software company was too small to qualify – consider calling Tax Credit Advisors, LLC, to discuss how the recent changes might affect your bottom line.

Many small businesses are under the incorrect assumption that they are not qualified to participate or even apply for research and development tax credits. There are a variety of myths surrounding research and development tax credits that we can dispel, including the assumption that your business is simply too small to qualify. 

As always, the key to successfully claiming the R&D tax credit is the supporting documentation. The staff at Tax Credit Advisors will work with you to identify qualifying activities, gather the necessary information, and prepare the required technical reports and financial documents.

Schedule a complimentary consultation today.

Workforce Training Fund Tax Workshop Session

Money HeapCurious about how your company can save money using state and federal research credits? Join Tax Credit Advisors, LLC for the Workforce Training Fund Workshop Session, hosted by the GBMP and The Workforce Training Fund. Otto Kunz, President of Tax Credit Advisors, LLC will be offering an informative explanation of how these credits can save you money. Learn how easy it is to attain funding for your business’ experimental development efforts; how to go about the application process, how much funding is available, how to follow guidelines, and just how Tax Credit Advisors can help make the process that much easier!

Event Date & Time: Wednesday, January 13, 2016 @ 9:30 am – 11:30 am

Location: GBMP, 60 Austin Street #102, Newton MA 02460

For more information, visit the GBMP website by clicking here!

US Research Credit is Now Permanent

Bill passage allows for Research Credit to become Permanent

After passage by the Senate on Friday, December 18th, the President signed into law both a new federal budget, as well as a second bill providing for the extension of a long list of expiring tax provisions. The largest of these was the Section 41 Research Credit, which has now been made permanent. In addition, the credit will now be available to off-set the Alternative Minimum Tax, and for some small business, may be used to offset payroll taxes as well. Watch this space for more information soon. Meanwhile, if you are interested in pursuing a research credit claim, please call us today!

Smaller Business Association of New England Panel Discussion

SBANE LogoThe 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 “Highlights of Prospectus 2014”.

This discussion session will provide a brief, friendly overview of the various federal and state programs and requirements, and will include a Q&A session designed to answer your specific questions. Many companies receive many thousands – even millions – of dollars in benefits each year under these programs.

We invite you to come see us, have breakfast, network, and engage in discussion during our Q&A session. We’d love to meet you, and we’d be more than happy to answer your questions and address any of your concerns.

Otto Kunz, CPA, President, Tax Credit Advisors, LLC, Shrewsbury MA
Otto Kunz founded Tax Credit Advisors, LLC in 2000. He is a technologist with over 20 years of experience in manufacturing technology and related software development. Since 1994 he has worked with companies throughout the United States and Canada in order to secure funding for technical development, supporting efforts to improve technological competitiveness in North America. He has spoken before a wide range of industry and government groups. He holds both an undergraduate degree and an MBA from Northeastern University and completed his postgraduate work in taxation at Clark University. In addition to his work with TCA, he is currently a member of the adjunct faculty at Assumption College in Worcester, MA where he lectures on taxation and related topics.

David M. Hull, CPA, Managing Partner, Hull & Knarr, LLP, Greenwood IN
David Hull founded Hull & Knarr, LLP in August 2001. For three years prior to founding the company, David built and led the R&D Tax Credit practice for the largest regional accounting firm in the country. He has provided strategic counsel to hundreds of companies ranging from privately held Department of Defense contractors to Fortune 500 companies to help them maximize and defend the research and experimentation tax credit.

David places the highest importance on his firm’s audit record. Every claim Hull & Knarr prepares is designed to meet the most rigorous IRS, external audit, and FIN 48 examination. His firm maintains an audit record that is unequaled in the industry; and his expertise is highly regarded among local, regional and national CPA firms. The graduate of Indiana University is a key resource and frequent national speaker for trade and professional organizations.

Brian Pazol, Vice President of Transducer Engineering, MSI-Channel Technologies Group, Littleton MA
Brian Pazol has more than 30 years of R&D experience with the design and development of transducers for underwater applications and novel optical materials. He is currently the Vice President of Transducer Engineering at MSI-Channel Technologies Group. Channel Technologies Group designs and manufactures piezoelectric materials, transducers, turnkey integrated systems and optical solution technologies that support mission critical applications for military and essential commercial market platforms. Brian leads the engineering team responsible for all electroacoustic transducer product development. He was Vice President of Engineering at Materials Systems Inc. (MSI) for 19 years prior to its acquisition by Channel Technologies Group in 2014. He has a Bachelors of Science in Physics from Rensselaer Polytechnic Institute and a Masters and Doctorate in Physics from the University of Illinois.

View the SBANE Technology and Innovation Committee flier (opens/downloads PDF) here.


When:         Wednesday, April 29, 2015

Time:           7:30 AM – Registration, Networking and Breakfast
8:00 – 10:00 AM – Program

Where:        SBANE, 1601 Trapelo Road, Padanaram Room (1st Floor), Waltham MA 02451

Register:     Please click here to register for this event.

Cost:           $25 SBANE Members
$40 Non-Members

NOTE: Please notify us 24 hours in advance if you wish to cancel your registration and receive a credit toward a future event or a full refund.