Tax Credits and Cash Savings Opportunities for the Life Sciences

If your business is involved in applied research; or practical and technical problem solving, then your company may be engaged in activities that qualify for a Research & Development (R&D) tax credit. Even making small improvements to a product or a process could qualify you for the credit.

Less than 30% of eligible companies are aware that they qualify for the R&D tax credit. Even if your company claims the R&D tax credit, you might not be claiming the entire credit to which you are entitled.

In this webinar, Cherry Bekaert’s professionals will:

• Define the R&D tax credit
• Highlight the activities and related expenses that qualify for the credit
• Explain how qualifying start-up companies can utilize the credit to offset their payroll taxes up to $250,000 (even if in a loss position)
• Recognize potential federal and state tax savings for your company
• Review the impact and opportunities of recent court cases

Additionally, there are several tax and audit implications for life sciences companies that received a PPP loan.  We will touch on the guidance as it is known at the moment.

Cherry Bekaert Speakers:

John F. Gonella, III, CPA
Partner, Tax Services; Carolinas Regional Market Leader

Jessica Simmons, CPA
Partner, Assurance Services

Forest Corwin, CPA
Senior Manager, Credits & Accounting Methods

Lauren Factor, CPA
Manager, Tax Services