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Course Details

IRC Section 41: Credit For Increasing Research Activities Update

Webinar: ID# 1023176
Recorded CD
Qty:
About This Course:
This webinar will feature a discussion around one of the most complicated and misunderstood sections of the Internal Revenue Code, Section 41 - Credit for Increasing Research Activities.

Our panel of experts has collectively worked on more than 500 research tax credit studies during their careers. Learn from some of the top technicians in the industry what may and may not be considered research and development under IRS guidelines.

Several topics that will be discussed include understanding the broad range of companies in many industries that can qualify for the research credit, potential pitfalls, and significant opportunities to bring value to your clients or your company by using the research credit, and various elections and opportunities that can maximize the value of the credit.

Agenda

Overview of the Research Tax Credit
Applicability
Benefit – Federal and State
State of the Research Credit
  • Conceptual View – How the Credit Is Supposed to Affect BehaviorHistory
  • Recent Developments That Have Broadened the Scope and Application of the Credit
  • PATH Act
What Activities Qualify as Research and Development
Excluded Activities
IRC Section 41 – Credit Requirements
  • Business Component
  • Technical Uncertainty
  • Process of Experimentation
  • Scientific Principles
Internal Use Software
  • High Threshold of Innovation Test
  • Fed Ex vs. U.S.
Qualifying Expenditures

  • Wages
  • Supplies
  • Contract Research
Credit Calculation Considerations
  • Reduced Credit Election
  • General Credit Calculation
  • Alternative Simplified Credit Calculation
  • Base Period Concepts and Implications
  • Credit Carrybacks and Carryovers
Documentation Requirements
  • Case Law and Regulations
  • Challenges and Required Actions
Recent Developments
  • Case Law and Regulations
  • Regulatory Update
Summary
  • Regulatory Mine Field, However, Tremendous Value to Business Owners
About The Presenters

Phil Dottavio, CPA, E.A., M.T.
  • Director with the Think, LLP, based in Cleveland, Ohio and Los Angeles
  • More than 25 years of experience in individual and business taxation, including seven years with two of the Big Four accounting firms, more than 15 years in private industry, and several years in leadership and advisory roles at a number of specialty tax firms
  • Supervised numerous R&D Tax Credit Studies for clients ranging from very large corporations to smaller companies and pass-through entities
  • Prior to joining the Think, LLP, he was responsible for overseeing R&D Tax Credit Studies at the largest independently-owned full-service accounting and business consulting firm in the state of Ohio, and served as vice president of R&D Tax Credit Services at a regional specialty firm
  • Adjunct professor at the Cleveland State University College of Business Administration, in addition to being an adjunct faculty member at Brown Mackey College
  • Certified public accountant in the state of Ohio
  • Is an enrolled agent
  • Master of taxation degree, University of Denver Sturm College of Law
  • B.B.A. degree in accounting, Kent State University
Jennifer Lantz
  • National director in charge of Research & Development Tax Credit Services for Think, LLP, based in Cleveland, Ohio and Los Angeles
  • More than ten years of experience supervising all aspects of hundreds of research and development tax credit studies for clients of all sizes, and has a high level of expertise in developing methodologies for the collecting and processing of all the qualitative and quantitative data required in order to calculate and support research and development tax credit claims
  • Responsible for ensuring that the firm’s policies and procedures remain up to date with the most recent legislation governing the federal research and development tax credit
  • Expert in the art of effectively interviewing high level officers and other personnel in order to ascertain where otherwise hidden opportunities exist for the Research Credit
  • B.A. degree, Wittenberg University in Springfield Ohio
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IRC Section 41: Credit For Increasing Research Activities Update
Available on CD format
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