An Overlooked Cash Opportunity For Startups: R&D Tax Credit

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Overview: The United States provides a tax credit for companies engaging in the development of new or improved business components. A business component may include a product, process, technique, formula, invention, or software. This tax credit can provide a generous rate of return for a company engaging in these types of activities and can provide up to a 13% return on the qualified costs of the investment.

Recent tax law changes have made the research credit valuable to newly formed startup companies who historically were not able to take advantage of the research credits through traditional means of offsetting the company’s regular income tax liability. If a company meets the requirements of a qualified small business (“QSB”) they may have the ability to offset up to $250k a year (up to five years) of the company’s payroll tax liability using research credits.

This webinar is geared to startup companies and non-tax individuals who are interested in learning more about the QSB opportunity as well as the research credit in general.

Target Audience: Investors, startups, entrepreneurs, and growing businesses that are developing new or improved business components.

Presenters:
PwC’s Specialized Tax Services team, a diversified practice with experience in key federal tax areas, is ready to work with your tax department to identify qualifying cash tax savings and refund opportunities and gauge the impact of deductions and credits on the effective tax rate. Working together, we assist with results that include improved year-to-year consistency that leave you in full compliance and with more cash savings.

Jennifer Loo: Jennifer is a Director in STS, with 18 years of public accounting experience assisting clients with their Research and Development tax credits. She collaborates with some of the Bay Area's most prominent companies in a variety of industries and profiles, including pre-IPO, technology, retail & consumer goods, manufacturing, utilities, and agriculture, to name a few.

Tom Maguire: Tom is a Director in STS and has been specializing in research tax credit studies, along with other business incentives available to large-scale corporations for the last 12 years. His role includes directing and managing large-scale studies, as well as the defense of such studies upon IRS examination for clients in the manufacturing, aerospace, pharmaceutical, consumer products, and software development industries. Tom is also an active member of the New York State Society of Certified Public Accountants and the American Institute of Certified Public Accountants.

Hui Chang: Hui is a Director in STS with over 8 years experience in public accounting. Hui is specialized in Federal and State research credit studies. She has managed R&D credit projects for clients in various industries and profiles such as software, high-tech, life science, pharmaceutical, specialty chemical, manufacturing, engineering services, pre-IPO, etc. She also has over 4 years hands-on experience in engineering research and experimentation, and in depth knowledge of engineering principles. Hui holds a Ph.D. in Materials Science and Engineering from Dartmouth College. She is also a CPA licensed to practice in Virginia with a MS degree in Accounting.