taxopinion

4 ms·

1. 1.▲
   by taxopinion 3y ago

   You didn't generate an additional $1m in revenue in years 2-5. So in a situation where you get paid a $1m contract once, and pay $1m in salaries every year, here's what happens. Year 2022: $1m revenue, -$1m expenses amortized to $
2. 2.▲
   by taxopinion 3y ago

   Yes. You could look at this as an indictment of the tax system, in that the plain language says what it says, but the IRS expects you to hire an account to make an "appropriate determination." No small business accountant is incen
3. 3.▲
   by taxopinion 3y ago

   The lack of specificity in your little table should illuminate for you why this is such a complex issue to comprehend. I understand there is some fictional, meaningless interpretation hidden inside your head where that table is "right,
4. 4.▲
   by taxopinion 3y ago

   You've never filed an 1120.
5. 5.▲
   by taxopinion 3y ago

   > As the article suggests some are just filing incorrectly, what are the real risks and consequences of this? Provided you never used an R&D tax credit, none. But if you did, with a huge templated report report about software R&D
6. 6.▲
   by taxopinion 3y ago

   > Convincing the IRS that certain salaries suddenly don't qualify as R&D could prove challenging I always felt the R&D tax credit was too good to be true. Like how could a templated, computer generated report from a vendor e