Broadcast Date: Thursday, December 02, 2021
from 3:00 pm to 4:00 pm (ET)

Overview:

The Biden administration has drafted several tax proposals as part of its “Build Back Better” plan and among the most notable policy priorities include an increased tax responsibility for larger corporations. To alleviate this anticipated additional tax burden, leveraging their research and development (R&D) tax credits should be considered. However, the recently released tax proposals only includes one proposed R&D-related change so far, posing an open question on the new administration’s plan for R&D investments.

Although the current administration clarifies that R&D tax incentives are a high priority, many believe that the “Build Back Better” program should also uplift public and private funding in scientific research and development.

In this LIVE Webcast, seasoned tax credit professionals Mike Woeber (Corporate Tax Advisors, Inc.) and Joseph Burwick (Freed Maxick CPAs, P.C.) will discuss the recent developments and critical issues surrounding the R&D tax credits under the new administration. Speakers will also offer practical tips to maximize potential opportunities and a comprehensive guide on the process to qualify for R&D tax incentives.

Key topics include:

  • R&D Tax Credits: Recent Developments
  • Biden’s Tax Proposal: Critical Issues & Impact on US Corporations
  • How to Qualify for R&D Tax Incentives
  • Exploring Potentials
  • R&D Investments: What Lies Ahead

Learning Objectives:

  • Determine the latest developments and key issues surrounding the R&D tax credits under the Biden administration
  • Identify best practices to follow throughout the process of qualifying for R&D tax credits
  • Determine the changes to the deductibility of R&D expenditures under IRC Section 174 and its impact on R&D credit claims

 

Credit:

Course Level:

Intermediate

 

Advance Preparation:

Print and review course materials

 

Method of Presentation:

On-demand Webcast; Group-Internet Based

 

Prerequisite:

General knowledge of tax laws.

 

Course Code:

149421

 

NY Category of CLE Credit:

Areas of Professional Practice

 

NASBA Field of Study:

Taxes – Technical

 

Total Credit:

1.0 CLE

1.0 CPE (Not eligible for QAS (On-demand) CPE credit

 

Speaker Panel:

Mike Woeber, CPA, President and Co-founder
Corporate Tax Advisors, Inc.

Mike Woeber is the President and Co-founder of Corporate Tax Advisors, Inc. and is based in the CTA corporate office in Huntsville, Alabama. Mike began his career in 1989 working on the auditing and accounting team with Ernst & Young in Birmingham, Alabama. He focused on financial statement audits of publicly traded manufacturers, technology, and healthcare companies. After two years in audit Mike joined E&Y’s tax group and moved to their Huntsville, AL office. It was during his early years in Huntsville that he began advising privately held businesses on a variety of accounting and tax matters. This included financial statement audits, business tax preparation and individual tax preparation. It was during Mike’s 15 years as a tax partner with a regional firm that he began focusing on the research tax credit incentive.

In 2014, Mike and a group of close associates formed Corporate Tax Advisors, Inc., with the goal of forming a national business that was not a “traditional CPA firm.” The purpose of CTA, is, as it always has been, to operate as a specialty tax consulting firm focusing solely on assisting companies in identifying potential tax credits and unique tax strategies. These include research & development, renewable energy, and employment tax credits.

 

Joseph Burwick, CPA, Tax Principal
Freed Maxick CPA's, P.C.

Joseph P. Burwick, CPA is a Principal in Freed Maxick’s Tax Practice and leads their R&D credit practice. He has over 17 years of public accounting experience with a focus on Research and Development tax credits, manufacturing clients, and mid-to-large C and S Corporations. During his professional career, Joe has also obtained additional experience in the engineering, alternative energy, software development, high-tech, pharmaceutical, and general service industries. He is a nationally recognized leader regarding R&D tax credits, is a frequent blogger, and has represented taxpayers before IRS and state taxing authorities. Joe is part of a network of tax practitioners located across the United States, bringing national resources and trends to his practice.

Joe is Chairman of the Board of Trustees for the Western and Central New York Chapter of the Leukemia and Lymphoma Society and was the inaugural Man of the Year award recipient. Joe was also named one of Buffalo Business First’s 40 under 40 award recipients. He graduated from the Rochester Institute of Technology and is a member of both the AICPA and NYSSCPA.

 

Agenda:

SEGMENT 1:

Mike Woeber, CPAPresident and Co-founder

Corporate Tax Advisors, Inc.

  1. Proper documentation of the business component test for services companies.
  2. What the new Office of Chief Counsel Internal Revenue Service Memorandum 20214101F really means to taxpayers.

SEGMENT 2:

Joseph Burwick, CPATax Principal

Freed Maxick CPA's, P.C.

  1. Upcoming changes to the deductibility of research and development expenditures under IRC Section 174 and the impact on R&D credit claims.
  2. IRS enforcement – Current programs and potential changes
  3. Interplay of R&D credit and Employee Retention Credit (“ERC”)

 

 

Date & Time:

Thursday, December 02, 2021

3:00 pm to 4:00 pm (ET)

Who Should Attend:

  • Tax Directors
  • Tax Managers
  • Tax Executives
  • Tax Associates
  • Tax Lawyers
  • Tax Advisors and Analysts
  • Tax Credit Professionals
  • Chief Financial Officers
  • Controllers
  • Accountants

 

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SPEAKERS

Mike Woeber, CPAPresident and Co-founder
Corporate Tax Advisors, Inc.
Joseph Burwick, CPATax Principal
Freed Maxick CPA's, P.C.

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