Joseph Burwick, CPA, Tax Senior Manager, Freed Maxick CPAs, P.C. to Speak at TKG's Event
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About Joseph Burwick, CPA
Joseph P. Burwick, CPA is a Senior Manager in Freed Maxick's Tax Practice. For over 10 years Joe has spent significant time in the Firm's research and development tax credit service area, where he assists manufacturing, technology and software companies in New York and nationally to successfully reduce their tax liabilities by uncovering R&D credits. He has developed a broad background in accounting for income taxes (ASC 740), tax planning, consulting, and return preparation for large C Corporations, ranging from locally owned to consolidated multi-national companies.
Joe has other specialty areas including stock option planning/consulting and working with high net worth individuals. He also has experience assisting companies with tax advisory services pertaining to M&A activity.
About Freed Maxick CPAs, P.C.
Freed Maxick CPAs, P.C. is one of the largest accounting and consulting firms in Western New York and a Top 100 largest CPA firm in the United States. Serving closely held businesses, SEC companies, governmental and not-for-profit clients across New York as well as nationally and internationally, Freed Maxick mobilizes high-performance professionals to guide client growth, compliance, security and innovation. Freed Maxick specializes in the healthcare, manufacturing, real estate, banking, agribusiness and private equity sectors, and has more than 300 professional and administrative personnel and offices in Buffalo, Batavia, Rochester and Syracuse, New York. Visit www.freedmaxick.com or follow us on Twitter @FreedMaxickCPAs.
There have been several taxpayer friendly developments with respect to research and development (R&D) tax credits that (2) broaden the applicability of the credit and (2) provide clarification on whether internal use software (IUS) development costs are eligible for the credit. First, the "Protecting Americans from Tax Hikes" Act (PATH Act) enacted on December 18, 2015 established laws that promoted the ability of many taxpayers, including start-up businesses, to claim the credit. Also, on October 3, 2016 Treasury released final regulations clarifying the types of activities for developing IUS that are eligible for the R&D credit.
This Knowledge Group LIVE Webcast will provide a comprehensive discussion of these new opportunities, the general R&D credit rules, and the framework for making a preliminary assessment as to whether the credit could apply to your business or clients.
Key topics include:
· Basic rules for the activities and costs that qualify for the credit;
· Mechanics of the credit calculation
· After 31year of temporarily extending the R&D credit, it was made permanent;
· Certain small businesses can now use the credit to offset alternative minimum tax;
· Certain businesses can use the credit to offset payroll tax;
· Explain how IUS can generate a credit opportunity and provide clarity for those activities that qualify for the R&D credit;
· Application of Reg Sec 1.174-2 to maximize the credit
· Simple ways to identify whether a company is eligible for the credit; and
· Approaches to substantiate any claim for the credit.
· State research credit incentives
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Group was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register to an event, please visit: http://theknowledgegroup.org
The Knowledge Group