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Braithwaite Global to join at the Tax Officers Summit 2011, hosted by marcus evans Summits
marcus evans Summits is pleased to announce Braithwaite Global as a sponsor at the annual Tax Officers Summit, May 18-20, 2011 at the prestigious Westin Diplomat Resort & Spa in Hollywood, FL.
For over 30 years, Braithwaite Global has been singularly focused on the R&D tax credit worldwide. Braithwaite Global has helped thousands of companies file over 15,000 R&D tax credit claims and recover over $1 billion in R&D credits. Braithwaite Global is interested in building a partnership with their clients and offers strong support for their R&D tax credit claim and process, both in the US, and internationally. With Braithwaite Global's experience, and primarily technology-based focus, clients will have the highest possible likelihood of success with their claim.
Braithwaite Global has grown to such recognition that they were recently invited to Washington DC by auditing authorities with other large firms to discuss R&D credit in great detail. The Tax Officers Summit has been designed to provide a unique interactive forum for Tax Officers working in a cross-section of industries. Over three days, a carefully scheduled series of presentations, case studies and one-to-one business meetings will provide Braithwaite Global with strategic advice as well as networking opportunities with leading industry experts. Braithwaite Global representatives will have a number of pre-scheduled meetings with senior executives from reputable fortune 1000 companies. This year, the Tax Officers Summit will be welcoming special guest Keynote Speaker Karl Rove.
marcus evans Summits, produces high-level business platforms for the world’s leading decision-makers. These dynamic and innovative forums initiate and develop business relationships one-on-one between director and C-level practitioners from the world’s most influential organizations and with leading product and service suppliers. marcus evans Summits guarantees an exclusive format which enables participants to achieve the maximum amount of business and knowledge interaction over a three day event in a stimulating environment.
Investing in U.S. Competitiveness: The Benefits of Enhancing the Research and Experimentation (R&E) Tax Credit
On March 25, 2011, the US Department of the Treasury released a report titled Investing in U.S. Competitiveness: The Benefits of Enhancing the Research and Experimentation (R&E) Tax Credit.Manufacturing.net - Taking Your R&D Claim In-House
Heather Saarela wrote an article for Manufacturing.Net on taking your R&D claim In-House.
Is your manufacturing company preparing your R&D Tax Credit (RTC) claim internally or hoping to do so in the near future?
Companies of all sizes are being faced with tough decisions in regard to tax breaks and tax planning. With budget cuts and company wide layoffs, completing an in-depth R&D tax credit claim with an outside firm may no longer be an option.
The trend now is for manufacturing companies to take their entire RTC claim preparation in-house. While this might be an economically sound decision at the moment, a later IRS audit may make them wish they had sought outside help.
R&D Tax Credit Extended until December 31, 2009
October 3, 2008 the President signed the Emergency Economic Stabilization Act of 2008 and passed an act extending the R&D tax credit until December 31, 2009. After allowing the credit to expire 13 times in the past 25 years (most recently on December 31, 2007) this is a relief for many companies who depend on the credit and lobbying groups such as the R&D Credit Coalition. For the 2009 tax year, the Act also increases the Alternative Simplified Credit from 12% to 14% and repeals the Alternative Incremental Research Credit. The US currently ranks 17 out of 30 countries in the Organization for Economic Co-operation and Development in offering R&D tax credits. The credit still needs to be made permanent for the US to remain competitive worldwide.IRS designates R&E tax credit Tier I issue
On April 4, 2007 the IRS designated the Research & Experimentation (R&E) Credit Claims Issue as a LMSB Tier I issue. The change in audit importance can be addressed by putting together solid and defensible studies to support tax credit claims
Industry Director Directive #1 on Research & Experimentation (R&E) Credit Claims
Congress Allows Research Tax Credit to Expire Again
Congress has allowed the research and development tax credit to expire, even though it appeared initially that lawmakers were set to renew it before recessing for the holidays.
"It was a huge disappointment and thats a fairly vast understatement," said Bartlett Cleland, senior director of tax policy for the ITAA (Information Technology Association of America). "Weve been in this situation before where Congress retroactively [approves the R&D extension] and shoots the heck out of tax planning. This really mucks things up."
Featured on Manufacturing.net
Bruce Braithwaite, CEO of Braithwaite Global, Inc., says most people tend to think of someone in a white coat in a lab or university when they think of R&D.
“In manufacturing, it’s on the shop floor, developing products and processes,” he said. “They do it every day.”
Braithwaite suggests companies turn to their scientists or engineers instead of their accountants to determine what is covered under the tax credit, noting that the credit encourages people to perform R&D and reduce costs.
Congress Poised to Boost Funding for R&D
Congressional budgeting will be in the neighborhood of $21 billion above the Presidential request, which is likely to trigger a veto. As a result, the author of the AAAS analysis expects that the budget will not be done by the October 1 deadline.ars technica - Congress poised to boost funding for science research
Of that extra $21 billion, about $4 billion is targeted for federal R&D, bringing the total to $144 billion. That represents an increase of about 2.3 percent compared to fiscal 2007; draft bills in the Senate would add another half billion to the figure.
UPDATE: Oracle, Caterpillar Executives Back Corporate Tax Cut
Several top U.S. executives said Thursday they would accept a repeal of tax breaks such as the corporate research tax credit in exchange for lower tax rates.
"I would trade it in a minute for a simple, lower rate," Safra Catz, president and chief financial officer at Oracle Corp. (ORCL), told a Treasury Department tax conference. While her software firm backs the corporate research credit, she believes the broader U.S. economy would benefit from corporate tax cut.
The chief executives of Caterpillar Inc. (CAT) and FedEx Corp. (FDX) offered similar sentiments during the morning-long tax hearing, organized by Treasury Secretary Henry Paulson Jr.
"I would happily trade all of the credits for simplification and a lower tax rate," said James Owens, Caterpillar's CEO and chairman. "I think that will benefit the U.S. economy and the global race that we are in."
CNNMoney.com - UPDATE: Oracle, Caterpillar Executives Back Corporate Tax Cut
Bill to Expand R&D Tax Break Divides Supporters
Congress is considering a major increase in the multibillion-dollar tax break for corporate research, but a proposal to change how the credit is calculated is prompting an unusual split among its beneficiaries.
The boost would follow Congress's expansion in December of the "Research & Experimentation" tax credit, which gives companies a credit on their tax bills for part of their research-and-development spending. That version increased the annual subsidy to an estimated $9.3 billion from $7.3 billion, chiefly by adding a new formula for calculating the credit.
The Wall Street Journal - Bill
to Expand R&D Tax Break Divides Supporters
