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Description
Tax Credit Opportunities R&D and Section 174 Expenses - Sponsored by ADP
IRS Program #: X9QQU-T-01097-23-O
CTEC #: 6257-CE-0264
CE: 1 IRS & 1 CTEC credit
Speaker: Michael Smith, CPA, Director of Tax, ADP
Pursuing tax
credits can be complex. Small businesses engaging in qualified research
activities have the opportunity to claim lucrative tax credits that could help
them fuel innovation, but how do the changes to Section 174 amortization come
into play? The research and development (R&D) tax credit is among small
businesses’ least claimed and often misunderstood tax credits.
Join ADP® and
get critical updates on R&D tax credits for 2023.
Learning
Objectives:
- Understand statutory limitations for refund claims of payroll taxes.
- Review recent IRS pronouncements.
- Define qualified small business (QSB) income tax credit vs. payroll tax offset.
- Identify qualifying activities and qualifying costs (B-1 wages from payroll).
- Review changes to Section 174 amortization.