The federal government and 36 of 50 states in the U.S. have research and development tax credits that many agency owners incorrectly believe our agencies are not eligible to receive. In reality, many AMI agencies take full advantage of these credits, sometimes earning back in excess of $100,000 a year. Needless to say, it’s important for your agency to explore whether or not you are eligible for these benefits because the impact on your bottom line could be a huge win.
Mike D’Alessandro owns a company called Research Tax Credits. For 14 years he has been specializing in research and development (R&D) tax options. These benefits are designed to stimulate the economy by creating competitive tax advantages for small business owners, including advertising and marketing agencies.
In this episode of Build a Better Agency, Mike and I take a deep dive into the R&D tax credits that many agencies mistakenly believe they are not eligible for. We look at the history and eligibility of these credits, how they are determined, and what parts of agency work would be covered. We talk about whether these credits carry forward and if you can retroactively apply. We also discuss if these credits can increase the likelihood of an audit and the process for applying. It’s a big opportunity that man
A big thank you to our podcast’s presenting sponsor, White Label IQ. They’re an amazing resource for agencies who want to outsource their design, dev, or PPC work at wholesale prices. Check out their special offer (10 free hours!) for podcast listeners here.
What You Will Learn in This Episode:
- The history of the R&D tax credit
- What does it mean to be eligible for an R&D tax credit?
- What is a wage-driven credit?
- The parts of the marketing business that is included under this credit
- Does the federal credit carry forward?
- Why wouldn’t someone utilize this credit?
- Can you retroactively apply for these credits?
- Does applying for this credit increase the likelihood of an audit?
- The application process
Ways to contact Mike D’Alessandro:
- Websites: http://researchtaxcreditsllc.com
- Email: miked@researchtaxcreditsllc.com
- LinkedIn: https://www.linkedin.com/in/mikedalessandro1/
Tools & Resources: