What is Research & Development Tax Credit?
Research & Development tax credit is an incentive that rewards taxpayers for conducting research in the United States. Its goal is to promote and incentivize innovation by allowing tax credits for their research expenditures. It is for businesses of all sizes, not just for research labs and larger corporations. Substantiating research activities, documenting research expenses, and computing research tax credits in a way that meets the stringent audit requirements of the IRS and state tax authorities isn’t easy. As a result, we find many taxpayers don’t receive the R&D tax credit they deserve.
If you’ve been racing against the clock to file your taxes, then no doubt you were relieved when the IRS announced they are giving taxpayers more time to file the 2020 U.S. Individual Income Tax Returns. This extra time is a perfect opportunity to see if your business is eligible for the R&D tax credit! While you may believe only science and tech companies can apply, over 40 industries can stake their claim to this incentive. From manufacturing to construction and energy, we’re working hard to debunk the myths that surround R&D tax credit for many industries.
In this session, you will learn:
- A comprehensive guide to a tax savings opportunity
- How SMBs can take advantage of the R&D Tax Credit
- How to claim the R&D Tax Credit as a startup with no revenue
- How to claim the R&D Tax Credit for past years
AGENDA
- Welcome by USPAACC Western Chapter
- Opening remarks from Susan Au Allen, National President & CEO of USPAACC
- Keynote address from Peter Lee, Vice President of Supplier Diversity at Wells Fargo
- Presentation on Unraveling the Mystery of the R&D Tax Credit
- Closing remarks
SPEAKER:
Sandhya Mukkamala, CPA – Partner and Co-Founder at ASTUTE and an accomplished CPA in the State of California. She advises clients on R&D tax incentives, technical accounting, forensic audits, M&A activities, as well as works closely with clients’ CFOs/Controllers and help strategize the financial growth of the business. She has more than 17 years of experience in audit and review engagements, and complex Merger & Acquisition due diligence audits for private and public accounting sectors.
Prior to founding Astute, Sandhya has served as M&A due diligence auditor for several years in a reputed public accounting firm in Silicon Valley. She has led the audit team in planning, structuring, and performed M&A due diligence activities across all functional areas such as financial, products, operations, and technology etc. Her unique understanding, problem-solving skills and providing reliable solutions have benefited clients in various industry sectors.
Ashwini Vasudeva – Partner and Co-Founder at ASTUTE, advice clients on Financial stability, Sustained growth and Financial recovery. She assists companies on Licensing/Royalty Compliance Audits, Technical Accounting, R&D Tax Incentive and forForensic Audit related work as well as works closely with clients’ CFOs/Controllers to develop stronger processes and controls within business. She has over 18 years of experience in public accounting and various industries.
Prior to founding Astute, Ashwini has served some of the most reputable publicly held companies as a financial and internal auditor with KPMG, LLP. She has also developed Internal Audit and Intellectual Property/Royalty/Licensing Compliance Audit Programs for a variety of industries. Her business acumen along with her strong ability to communicate effective has reaped financial benefits to clients in various industry sectors.
MODERATOR:
Marianne Ellis – Co-Founder/ CEO at CEO Success Community, a renowned leader in advertising, marketing, business coaching, RFPs and business development for more than 25 years, averaging more than $100 million in new billing growth in less than 18 months for two national advertising agencies. Marianne held EVP, SVP, COO positions and is a member of The Television Academy annually attending The Emmy’s. With both sell and buy side experience she ran RFP reviews for Fortune 500 companies at External View Consulting.
Currently, Marianne is CEO of CEO Success Community the source for Women & Diversity Owned Businesses seeking Corporate Contracts with Fortune 500 companies. Proud to have coached more than 500 CEOs and hired by Corporations for their Rising Suppliers.
Organiser
