One of the most lucrative credits available to U.S. business is the Research and Development Credit. We believe Congress needs to restore and strengthen the R&D credit which MDC will boost economic growth, encourage domestic investment, create U.S. jobs and incentivize increased R&D activities for all businesses — small or large, start-up or established. Lawmakers have taken important steps to improve and extend the credit in 2015 and MDC encourages them to work together to reach a final agreement that would:
- Make the R&D credit permanent.
- Increase the alternative simplified credit (ASC) to 20% (10% for start-ups).
- Make a portion of the R&D credit refundable for small start-up ventures.
We are surprised by the number of new clients that have never heard or taken advantage of the R&D Credit. Call us today to be sure your business is taking advantage of all that is available to minimize your federal and state income taxes!