News from Paradigm Partners

The purpose of our newsletter is to keep you informed and up-to-date on the latest regarding R&D Tax Credits, Cost Segregation, other tax related issues, Business Development and Personal Development.

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Don't Lose the R&D Tax Credit
Filing Deadlines Approaching

As you know you can go back 3 open tax years and capture the R&D Tax Credit.

If a company wants to capture their credit for 2005, they can file an amended return 3 years from the date they filed their returns for 2005. Once that date is passed; you have lost the credit forever.

So if a company filed an extension in 2005, they may still have to time conduct a study and amend their 2005 returns.

In addition, those companies that want to use the credit for 2008 and have filed an extension, it is beneficial to include the credits in the original return and not file an amended return. In our experience, there is a smaller chance of being audited if the credit is taken on an original return than an amended return.

If we are dealing with S Corps, the deadlines would be related to the individual shareholders.

Do not hesitate to contact us if you have any questions.

Review of the Baucus-Hatch Bill with Proposed Improvements to the Research & Development Tax Credit

Prepared by
Zee Makhani, Senior Engineering Director
and

Mark Lauber, VP of Marketing

On June 8, 2009, Senate Finance Committee Chairman Max Baucus (D-Mont.) and Senator Orrin Hatch (R-UT) introduced legislation to improve and simplify the research and development (R&D) tax credit. The legislation is designed to encourage innovation of new technologies and services that will spur economic growth at home and American competitiveness abroad.

The proposed changes to the R&D Tax Credit are very significant. The chart below is an overview of those changes and their implications for the credit.

Read the Full Review

Valant & Company's Solid Rules
Can Ensure Success in Life, Business

Editor's Note: Today we present the fourth installment in a special inspirational series from business performance improvement expert Laurence B. Valant, who specializes in growing profits for accounting firms and general business. Larry has been a frequent contributor to our newsletter, and again today, we feature excerpts from his new book, Stop Breaking These Rules! 100 Hard-Hitting Truths for Business Integrity and Performance. If you want more information or would like to order a copy of the wonderful new book, please visit www.valantco.com.

15 - What you say in a voice mail or email can, and will, be used against you.

It is an undeniable fact that when I leave a voice mail or send an email, I should understand that the addressee may not be the only person who will see or hear the message. I should expect that many others may get to listen to what I said, or read what I wrote. Therefore, my words had better be the truth, and they had better be said with the intent to help, not hurt

Make it a life rule to think twice before hitting "send"
Never leave any voice mail that takes longer than 30 seconds!
Use voice mails to leave call back information and a brief message that details why you are calling and what you need from the recipient.
A quick reply left on a voice mail can prevent phone tag - but keep your responses simple and straight forward.

Everything I say or write reflects on me. What I say to someone may not be published, but my words still impact that person and often others.

Read the Rest of the Article

I hope you have benefited from our Newsletter. Do not hesitate to contact me if you have any questions about what you heard or read in this Newsletter.

Sincerely,

Mark Lauber

VP of Marketing

Paradigm Partners

281-558-1700 X-105

MLauber@ParadigmLP.com