Hidden Value of R&D Tax Credits!
Kenner French discusses the importance of R&D tax credits for entrepreneurs, emphasizing that many are unaware of the potential financial benefits available to them. He explains the eligibility criteria, the types of expenses that qualify, and the overall impact of these credits on business growth and innovation.
Kenner also shares practical advice on how to identify and maximize R&D tax credits, along with real-world examples of businesses that can benefit from these incentives.
Takeaways
• Many entrepreneurs are unaware of R&D tax credits.
• R&D tax credits can significantly reduce tax liability.
• It's essential to ask tax professionals about R&D credits.
• Qualifying expenses include salaries, supplies, and contract research.
• R&D tax credits are dollar-for-dollar benefits.
• Businesses can go back two to three years for credits.
• Innovation in AI can qualify for R&D tax credits.
• Compartmentalizing R&D expenses makes claiming credits easier.
• The government incentivizes innovation to boost the economy.
• Real-world applications of R&D credits span various industries.
Sound Bites
• You're leaving money on the table.
• It reduces your overall tax liability.
• Email us the word book.
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