Real Results, Real Partnership: How Firestone Tax Helped One CPA Deliver Big Savings for a Client Zach Boyd, CPA and founder of Boyd CPA, was looking for a reliable CPA tax credit partnership—a way to deliver more than just tax prep. That connection started in 2017, when Zach and Firestone’s founder, Rance, were colleagues at a …
CPA Tax Credit Partnership: Real Results with Firestone Tax Solutions Read More »
Think Filing R&D Tax Credits is Easy? Think Again… Are you filing R&D tax credits for your clients? Are you sure you’ve got everything correct? We get it—it can be a lot of pressure! Getting it right is a big deal; the credit, rooted in Section 41 of the IRS Code, can save businesses thousands, …
Top 3 Mistakes CPAs Make When Filing R&D Tax Credits—and How to Avoid Them Read More »
https://www.firestonetax.com/wp-content/uploads/2025/01/Firestone-Tax-Solutions-Claiming-RD-Credits-in-2025.mp4 How Legislative Changes Have Impacted R&D Tax Credits in 2025 As we look ahead to 2025, businesses claiming the Research & Development (R&D) tax credit should be prepared for key legislative changes that will significantly impact their reporting requirements. These changes are aimed at enhancing tax reporting consistency and improving the quality of information …
Form 6765 Requirements and Section 174 Rules: Key R&D Tax Credit Changes for 2025 Read More »
Since the 1950s, research and development (R&D) expenses have been 100% deductible in the year incurred based on the rules for treatment of R&D expenses contained in I.R.C. §174. Due to a 2017 political budget gimmick, this treatment is about to change. The change For tax years beginning in 2022 and later, §174 R&D …
The federal R&D tax credit is a generous tax incentive available to companies that invest in the design of new or improved products, processes, software, techniques, or technologies. Many manufacturing companies are unaware that their day-to-day activities make them eligible for significant tax savings via the R&D Tax Credit. About the R&D Tax Credit The …
The federal R&D tax credit is a generous tax incentive available to companies that invest in the design of new or improved products, processes, software, techniques, or technologies. Surprisingly, although software and technology companies are in a sweet spot for R&D tax credit eligibility, many are unfamiliar with this tax credit and its potential impact …
R&D Tax Credit for Software and Technology Companies Read More »
How Much Is the R&D Credit Worth? The federal R&D tax credit is one of the most lucrative tax incentives out there. It is a dollar-for-dollar offset against income taxes, generally ranging between 5% and 10% of eligible R&D expenses. Explore with our free calculator – how much tax savings could the R&D tax …