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Greetings | | |
The purpose of our newsletter is to keep you informed and up-to-date on the latest regarding R&D Tax Credits, Hiring & Location Tax Incentives, Sales and Use Tax, Cost Segregation, IC-DISC (Exporters' Tax Incentive), Section 179, other tax related issues, business development and personal development.
If you find the Newsletter helpful, you may want to forward it to a friend. Just click below.
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US Department of the Treasury Report on the Research and Experimentation Tax Credit (R&D Tax Credit) | | |
On March 25, 2011, the US Department of the Treasury released a report titled "Investing in U.S. Competitiveness: The Benefits of Enhancing the Research and Experimentation (R&E) Tax Credit."
The common name for the Research and Experimentation Tax Credit is the R&D Tax Credit.
Here's a quote from President Obama taken from the report:
"Instead of tax loopholes that incentivize investment in overseas jobs, I'm proposing a more generous, permanent extension of the tax credit that goes to companies for all the research and innovation they do ... right here in the United States of America."
-President Barack Obama, September 8, 2010
Here's an Executive Summary of the report:
The Administration's proposal to enhance the Research & Experimentation tax credit will:
- Leverage More Than $100 Billion in Domestic Private-Sector Research over the Next 10 Years.
- Support Nearly 1 Million Research Workers in the U.S. in Professions that Pay Higher-Than-Average Wages.
- Increase the Total Amount of the Credit by 20 Percent.
- Increase Use of the Simpler Version of the Credit.
- Strengthen the Incentive Effect of the Credit by Providing Certainty to Taxpayers i.e. make it permanent.
Click Here to Read the Entire Report |
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Changes in Hiring & Location Incentives
for 2011 | | |
Several laws were passed effecting Hiring & Location Incentives for 2011. Below is a compilation of those changes.
Hiring Incentives
- WOTC extended to 12/31/2011
- Disconnected Youth sunsetted 12/31/2010
- Unemployed Veterans sunsetted 12/31/2010
On the horizon for 2011-2012 for WOTC
The Special Assistant to the President, Kareem A. Dale, has confirmed that WOTC reauthorization has been included in President Obama's 2012 budget proposal.
H.R. 781, the Veterans' Employment Transition Support Act of 2011, if enacted would amend the Internal Revenue code to grant a general business tax credit to employers for hiring veterans certified by designated local agencies as having been released or discharged from active duty for a service-connected disability or having served for longer than 180 days in the armed forces. Namely, this tax credit would amount to 40% of the veterans first-year wages with the percentage increasing for veterans with higher disability ratings.
HUD Zone Employment Tax Credits
- Empowerment Zone Credits have been extended to 12/31/2011
- Renewal Communities Have not been extended, expired 12/31/2009
Indian Tax Credit
- Extended through 12/31/2011
Hiring to Restore Employment Tax Credits
- The FICA Tax exemption has expired, but companies should be utilizing the retention portion of the credit to offset Federal Income Tax Liability in 2011.
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Valant & Company's "Lead and Manage! The Definitive Guide For Getting the Results You Want" | | |
Editor's Note: We are pleased again this year to feature valuable how-to advice and counsel from one of America's leading business performance improvement experts, Laurence B. Valant, President & CEO of Valant & Company. Here and in future newsletters, we will be providing our readers with excerpts from Larry's new book, "Lead and Manage! The Definitive Guide For Getting the Results You Want", which he co-authored with Valant & Company Partner Gayle W. Hustad. "Lead and Manage!" is available through Barnes & Noble, or can be ordered at www.valantco.com.
QUICK TAKES ON LEADERSHIP AND MANAGEMENT
- The challenge to everyone who finds themselves in positions of leadership or management is to become effective in their role. A title alone does not a leader or a manager make.
- People will follow an effective leader, whether naturally gifted as a leader or not. A leader becomes effective by employing the fundamentals of leadership outlined in this chapter.
- The effective manager, whether naturally gifted as a manager or not, is one who successfully carries out the plans defined by the leader. A manager becomes effective by employing the fundamentals of management outlined in this chapter.
- Leaders and managers must have their heads on straight in order to be effective. There are those managers who will meet expectations, delivering on time and on budget, but lacking strength of character, over time they will destroy the organization that has been entrusted to them.
- The effective manager is trusted by those they manage. They are the person about whom people say, "I really like working for them." The effective manager builds the organization and leaves it better than it was when they first arrived.
- Good economic times cover a multitude of leadership sins. Slow or zero growth economic periods expose leadership weaknesses and flaws.
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About Us | |
One of our missions as a company is to educate companies and CPA firms about the benefits of great tax incentives such as the R&D Tax Credit (Research Credit), IC-DISC (US Exporters), Cost Segregation, Section 179D and Hiring & Location Tax Incentives.
We also offer Sales and Use Tax Consulting Services, Contract R&D Audit & Consulting Services and Flat Rate Patent Services. This newsletter is one medium we use; we also conduct Free CPE Webinars and make presentations to CPA associations and manufacturing associations.
Sincerely,
Mark Lauber
VP of Marketing
Paradigm Partners
281-558-7100 X-105
MLauber@ParadigmLP.com |
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