Spotting Real R&D: How to Qualify Tax Credit Claims in Specialized Fields

In this episode of Let’s Talk Tax, hosted by ⁠Tim LeMasters⁠ with guest ⁠Tanner Niehaus, CPA⁠, the focus is on understanding what makes a client truly qualified for the ⁠R&D Tax Credit⁠. The conversation delves into industry-specific qualifications, IRS guidelines, and the importance of proper documentation. They also cover common disqualifiers and red flags, touching on various industries like tech, government contracting, and bioscience. Additionally, the episode highlights the unique challenges and opportunities for startups, emphasizing the importance of utilizing R&D Tax Credits to offset payroll taxes. This informative discussion aims to help CPAs and real estate professionals better serve their clients by identifying genuine R&D efforts and navigating the complexities of tax compliance.