ARLINGTON, Va., Oct. 19, /PRNewswire-USNewswire/ -- The credit for increasing research activities ("R&D credit") is one of the most popular incentives in the tax code, but until recently its effectiveness has been hampered by limitations on the utilization of the credit imposed by IRC Sec. 38(c). Now, provisions in the new Small Business Jobs Act have restored the power of the R&D credit and allow small businesses to use the credit against AMT. Individuals close to the legislation, including former Congressman Jim Ramstad and former Senate Finance Committee tax counsel Dean Zerbe, will explain the impact of these changes in a new webinar from BNA Tax & Accounting: Business Credit Provisions in the Small Business Jobs Act of 2010: Giving New Life to the R&D Credit on October 20.
In this 60-90 minute webinar, the speakers will provide participants with insights on understanding and applying the business credit provisions and determining whether a business qualifies as an eligible small business.
The speakers will cover:
- Basic Structure of the R&D credit.
- Limits on taxpayer utilization.
- Background of Small Business Jobs Act of 2010.
- Elements of the AMT utilization provision.
- Elements of 5-year carryback provision.
- Qualification requirements for eligible small businesses.
- Overall impact of the bill on small businesses.
"The R&D credit has more muscle than before, but businesses must take advantage of this opportunity now, says BNA Managing Editor Allen Calhoun. "Whether R&D credits will be this useful to small businesses in the future is uncertain."
About the Speakers
Dean Zerbe is National Managing Director for alliantgroup and is based out of alliantgroup's Washington D.C. office. In this role, Dean is responsible for, among other things, monitoring tax-related legislative activity in Washington to help keep our clients and staff informed and help direct alliantgroup's service offerings to ensure we are meeting client needs.
Prior to joining alliantgroup in February, 2008, Dean was Senior Counsel and Tax Counsel to the U.S. Senate Committee on Finance, where he worked closely with the Chairman (and currently Ranking Member) of the Finance Committee, Senator Charles Grassley (R-IA) on tax legislation. During his time on the Finance Committee, Dean was intimately involved with almost every major piece of tax legislation that was signed into law – including the 2001 and 2003 tax reconciliation bills (representing two of the largest tax cuts in the nation's history); the JOBS bill in 2004 (corporate tax reform); and, the Pension Protection Act.
Jim Ramstad is a Senior Advisor for alliantgroup, based out of Minnesota, and served as a Member of Congress from Minnesota from 1991 until 2009. He was a Member of the House Ways and Means Committee, Health Subcommittee, and Ranking Member of the Oversight Subcommittee. Jim also co-chaired the Addiction Treatment and Recovery Caucus, Disabilities Caucus, Law Enforcement Caucus, and Medical Technology Caucus.
Former Congressman Ramstad was chief co-sponsor of the landmark Mental Health and Addiction Treatment Parity Act, which became law in 2008. Jim was named "Legislator of the Year" by the National Association of Alcoholism and Drug Addiction Counselors in 1998, by the National Mental Health Association in 1999, and by the National Association of Police Organizations in 1997 and 2000. Ramstad is also the 1998 recipient of the Fulbright Distinguished Public Service Award.
David Ji is a Managing Director at the Houston national office with extensive academic and industrial experience in the fields of finance and bio-engineering. He is head of the firm's Life Science Group, part of alliantgroup's Industry Specialization Program. Prior to joining alliantgroup, David worked on cutting-edge research in the arenas of developmental biology and gene therapy as a research and bioanalytical scientist. David also served as a Senior Analyst for the corporate development and strategy group of a regional firm. His research and technical background, together with his business analyst training, gives him a unique combination of skills that allow him to identify and capitalize on tax incentives for a wide variety of business enterprises.
Business Credit Provisions in the Small Business Jobs Act of 2010: Giving New Life to the R&D Credit takes place October 20, 2010, from 11:00 am – 12:30 pm, ET). Register for this webinar and obtain further information about CLE and CPE credits, go to http://www.bnatax.com/small-business-credit-webinar/?open&cmpid=tmtxpr2010 or call 1-800-372-1033, menu Option 6, then Option 1. The per site fee is $249.
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About BNA Tax & Accounting Webinars
BNA Tax & Accounting is the foremost source of tax and accounting research, news, practice tools, and guidance for tax attorneys, CPAs, corporate tax managers, estate planners, and financial accountants. Designed for today's busy practitioners, our webinars offer the same expertise and relevance that are the hallmark of all BNA Tax & Accounting resources. In just 60-90 minutes, practitioners gain in-depth knowledge on a current tax or accounting topic from experts in that area — and benefit from practical applications that can be put to work immediately. Conference attendees have the opportunity to ask the speakers questions, and may be eligible to earn CLE or CPE credits — all from the convenience of their own office or conference room.
SOURCE BNA Tax & Accounting