Are You Missing Out on R&D Cash?
R. Kenner French discusses the often-overlooked R&D tax credits available to entrepreneurs, particularly those utilizing artificial intelligence in their businesses. He emphasizes the importance of recognizing eligible activities that qualify for these credits and outlines the process for claiming them.
Kenner highlights the financial benefits of R&D tax credits and encourages business owners to take advantage of government incentives to lower their tax liabilities.
Takeaways
• Many entrepreneurs are unaware of R&D tax credits.
• The government incentivizes innovation through financial rewards.
• R&D tax credits provide dollar-for-dollar tax savings.
• Eligible activities include developing and testing new products.
• Documentation is crucial for claiming R&D tax credits.
• State credits can be stacked with federal credits.
• Ongoing support and analysis are important for maximizing benefits.
• AI and innovation are key drivers for R&D tax credits.
• Business owners should consult tax professionals about R&D credits.
• AI Credit Max is a resource for small business owners.
Sound Bites
• The government will give you money.
• You have to do an initial assessment.
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