Join us at the VIA for our CFO Cohort. You MUST BE A CFO, Controller or the Accounting Financial Leader of your company to attend.
If your company has spent time, money or other resources to improve a product or production process, you may qualify for the research and development (R&D) tax credit. The presentation and discussion will be led by Jason Eldridge, Managing Consultant with BKD, and will center on how to identify, properly document and calculate available R&D tax credits that may result in reduced tax obligations and refund opportunities.
What Is the R&D Tax Credit?
Originally created by the Economic Recovery Tax Act of 1981, the federal R&D tax credit has changed several times over the last three decades. These changes have allowed more and more companies to take advantage of the credit to offset investments in substantial or incremental improvements. The cost associated with these activities (including the time spent) is then used to calculate the R&D credit. The credit offsets current federal tax obligations dollar for dollar. Many states also recognize the R&D tax credit for state income tax purposes.
What is the Energy Tax Credit?
The Section 179D Energy Tax Credit allows a depreciation deduction for installing qualifying energy efficient systems and buildings. Under the law, a tax deduction is available to owners of new or existing buildings who install interior lighting, building envelope, HVAC or hot water systems that reduce the building’s energy and power cost.
Section 179D had expired on 12/31/2017, and the recently enacted Further Consolidated Appropriations Act, 2020 reinstated it through 12/31/2020. The law has been in effect since January 1, 2006, under the Energy Policy Act of 2005 (EPACT).
In part two of the discussion, Scott Swarts, President of Paragon International will talk about the six general requirements for qualifying for the 179D tax benefits, and will illustrate potential savings.
Cancellations must be made 48 hours in advance of program start. Cancellations made after this time will be charged. No Shows will also be charged. We encourage you to send a substitute if you cannot make an event (please provide VIA the name of substitute).
Thank you to our Sponsors: