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Extender No More! Congress Makes the Research Tax Credit Permanent!

Black Line Group is pleased to announce that The Protecting Americans from Tax Hikes (PATH) Act of 2015 was signed into law on Friday, December 18, 2015.  The PATH Act of 2015 made the Research and Development Tax Credit (“R&D”) permanent for the first time in the credit’s 34 year history!  The credit is permanent […]

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More Software Initiatives to Qualify for R&D Tax Credit

On January 16th, the U.S Department of the Treasury released new proposed regulations that narrow and provide more clarity regarding the definition of Internal Use Software (IUS), thus making more software development initiatives eligible for the Research and Development (R&D) Tax Credit. In addition to software development companies, this new proposal will also benefit manufacturers of all […]

It’s Now Official! The R&D Tax Credit Is Extended for 2014!

Black Line Group, a leading national provider of R&D Tax Credit services, is extremely pleased to announce the extension of the Federal Research and Development (R&D) Tax Credit for the 2014 tax year. Last Friday night the President signed into law The Tax Increase Prevention Act, which calls for a one year extension of the […]

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Small and mid-size businesses to benefit from new IRS rules for the Research & Development Tax Credit  

IRS Change Now Allows ASC Election on Amended Returns Originally proposed as a provision under the Innovators Job Creation Act, the IRS has made a significant change that could potentially make the R&D Tax Credit more attractive, and easier to claim, for many more small and mid-size companies that qualify for the credit, but for […]

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Restoring the Shine to the Minnesota State R&D Tax Credit

Scott Schmidt testifies in front of MN Senate and House Finance Committee on the State's R&D Tax Credit

In the past 5 weeks, I have twice testified to the Minnesota House and Senate Finance Tax Committees on improving the Minnesota State R&D Tax Credit and restoring its status as one of the best state R&D Tax Credits in the country.

Starting January 1st of 2010, Minnesota made the state R&D Tax Credit refundable . The intent of making the credit refundable was to allow for immediate monetization of the credits when not able to otherwise be used, and thus freeing up money that’s able to be reinvested to grow the…

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Bipartisan Bill Offers Tax Credit To Help Startups Create Jobs

The Senate Finance Committee has passed bipartisan legislation to allow startup companies and small businesses to access the successful Research and Development Tax Credit. The committee passed two versions of the Startup Innovation Credit — one will allow innovative startups to claim the R&D tax credit against their payroll taxes. The second version will allow small business owners to claim […]

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R&D Tax Credit Extension Passes Senate Committee Vote

Senate Finance Committee

On April 3, the United States Senate Finance Committee passed the bipartisan Expiring Provisions Improvement Reform and Efficiency Act (EXPIRE) to renew virtually all of the tax relief provisions, known as ‘tax extenders,’ including the R&D tax credit. More than 50 tax provisions expired at the end of last year – some being of more significance […]

Manufacturing Your Way to Lower Taxes

With the 2014 year under way, you will soon be doing a review and assessing your 2013 business results. Just like an engineer or programmer applies a keen eye to their design work, a similar discipline can be applied to the bottom line of your company. One tax benefit available to businesses and their shareholders […]