More return on your investments
Every business needs to invest to grow. Federal, state and local tax jurisdictions offer incentives to stimulate certain investments or encourage those types of investments in their communities. RSM has helped clients across the country identify and realize a broad range of investment incentive opportunities and has the proven experience and tested methodologies to help your company explore a broad range of tax planning opportunities.
Key investment credit and incentive opportunities include:
In two recent private rulings, a taxpayer who mistakenly failed to file Form 7004 and 1120 was allowed 120 days to make late elections.
H.R. 6756, the American Innovation Act of 2018, increases the amount of start-up and organizational expenses a business can deduct.
The IRS concedes a Tax Court case where an automotive supplier treated tooling costs as qualified research expenses for its R&D tax credit.
Alta Wind case illustrates requirement to use residual method of allocation is broad and may apply in cases where no goodwill is present.
The State of Pennsylvania has established a new R&D tax credit online application submission and processing portal.