The R&D tax credit is one of the most effective ways for manufacturers to reduce overall tax liability. This is especially true in the post-Tax Cuts and Jobs Act of 2017 (TCJA) era with limited use of net operating losses. However, between decisions by the courts and pressure from the tax authorities, many manufacturing companies spend more time and money than they should to calculate and substantiate their credits.
With the improvement in technology tools, the introduction and refinement of the ASC 730 Directive, and a focus on contentious areas of R&D claims, companies can design and implement a more efficient process that yields better results and provides better substantiation.
In this webinar, Global Tax Management’s Jonathan Forman and Joe Lally will provide an overview of this process which, if implemented correctly, can be automated to reduce the effort of substantiating future R&D tax credit claims. Attendees will hear about:
- Electing to use the ASC 730 Directive if eligible
- Refocusing your survey structure to focus on the POE and non-traditional R&D
- Using a “pseudo-730” approach