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Therapeutic Tax Credit
As part of the healthcare bill passed in March 2010, Congress approved a small stimulus provision for the biotech and medical device industry. A $1 Billion fund was created to fund small companies up to $5MM per application. The drop dead deadline is July 21, 2010 to the IRS and Dept of Human Health and Services LEARN MORE »
Expiration of Tax Cuts
Many of the Bush tax cuts are set to expire and will most likely not be renewed by the new administration. We expect top tax rates to increase in the new legislation for top earners. Many tax advisors are advising clients to take income this year or next year due to expiration of favorable capital gain rates for dividends and also a whole host of other provisions. LEARN MORE »
Research and Development Tax Credit
Research Credit Claiming Criteria: The "Four-Part Test". The R&D Credit has been part of the Internal Revenue Code since 1981; however, a large number of companies have not taken advantage of this provision. In the past, the rules were very confusing. It was hard to determine who qualified, let alone which products or processes might qualify. LEARN MORE »
American Recovery and Reinvestment Act of 2009
On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act of 2009 into law. In passing the 2009 Act, Congress hopes to strengthen the economy by "creating jobs, cutting taxes and investing in our country's future." LEARN MORE »