R&D Tax Credit

The federal rules for deducting research and development costs are settling after changes under the One Big Beautiful Bill Act. However, as many states move to decouple from these new provisions, taxpayers are facing significant uncertainty and compliance challenges.

The race to secure solar tax credits ahead of the July 4 deadline has fundamentally reshaped the U.S. solar market, but other incentives continue to offer meaningful cost advantages.

Following a landmark ruling affirming the validity of Research and Development (R&D) credit claims for crop producers, the U.S. Tax Court has now confirmed that innovations in livestock production likewise qualify for the R&D credit.

The One Big Beautiful Bill Act (OBBB) has a number of important provisions providing tax relief for small businesses.

The One Big Beautiful Bill Act (OBBBA, also called the “Big Beautiful Bill”) was signed into law by President Trump on July 4th. This legislation addressed a variety of priorities, with its many provisions relating to tax rates, credits, and deductions; border security priorities; and healthcare and entitlements.

The $3.4 trillion fiscal package signed into law by President Donald Trump contains a particularly beneficial provision for innovative small businesses

Protecting the bottom line is essential for long-term success in the ever-evolving business landscape. One often overlooked avenue for achieving this is leveraging available tax credits and incentives.

The election results certainly bring a new day when it comes to taxes – especially for small and medium businesses. In particular, the election will end the log-jam that has held up providing relief from the amortization requirements for research expenses that took effect in 2022 – and bring back the long-time traditional policy of allowing immediate expensing of research costs.

Former Secretary of Agriculture Mike Johanns had not met Brooke Rollins until recently. When he learned President-elect Trump nominated her for agriculture secretary, he made a congratulatory call.

Recently, major questions have been asked about pop-up shops claiming to do taxes with artificial intelligence (AI). Some are even saying they can perform studies for complex incentives such as the Research and Development (R&D) credit.