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