Episode 126: Innovate & Elevate: A Deep-Dive into R&D Credits
Update: 2025-10-03
Description
In this episode:
- Navigating government shutdowns and IRS updates for business owners
- The impact of state vs. federal marijuana laws on business deductions
- Understanding the QBI deduction and how it affects entrepreneurs
- Beneficial ownership reporting: what changed and why it matters
- Key tax deadlines and what to do after tax season
- Foreign bank account reporting requirements (FBAR)
- State-specific tax law changes (Maryland vs. Delaware)
- Deep dive into the Research & Development (R&D) tax credit:
- Who qualifies and the four-part test
- Real-world examples for startups, manufacturers, and tech companies
- Payroll tax offsets for early-stage businesses
- Documentation tips and audit triggers
- Common misconceptions and maximizing your credits
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