The session will begin with a brief overview of the credit, highlighting its utility in a plethora of industries, and addressing credit benefits, limitations, and timing. The presenter will then walk through the Four-Part Test, using real-life examples to illustrate what types of research meet eligibility criteria. The four types of Qualified Research Expenses will be explained, and the presenter will review the associated information-gathering process. Discussion will then pivot to credit flow and utilization, including the Eligible Small Business Provision, and a variety of scenarios will be presented.
Learning Objectives:
- List multiple industries that may be engaged in R&D Credit-eligible research
- Summarize the eligibility criteria that compose the Four-Part Test
- Define the four types of Qualified Research Expenses
- Identify good candidates for R&D Tax Credit studies
- Describe credit flow in S-corps and C-corps
- Describe credit utilization and the Eligible Small Business Provision
Jacob Wood, JD
Capstan Tax Strategies
Regional Director of Business Development
[email protected]
(215) 885-7510
Jacob Wood likes to get into the trenches with his clients.
As Regional Director of Business Development, Jacob works closely with his clients – planning with them, building with them, and celebrating with them. Jacob prides himself on creating long-term relationships, not short-term sales, and his analytical skills and financial expertise allow him to function strategically as a trusted advisor.
In the last decade, Jacob has personally performed or overseen over 2,000 R&D Tax Credit studies, identifying and substantiating over $800 million in federal and state tax credits. Additionally, he specialized in creating excellent experiences for his clients and their friends, engaging hundreds of clients by direct referral. The majority of Jacob’s clients have also gone on to become multi-year partners.
Jacob is a Subject Matter Expert in R&D Tax Credit Law, Canadian SR&ED Credits, and Cost Segregation. He is also a SME in the Architecture, Engineering, Construction, Manufacturing, Software, and Life Sciences industries, though he confesses to a special interest in robotics and automation.
A self-described “lifelong student,” Jacob is continually sharpening his technical skills. He freely admits to loving math, reading The Economist, and considering tax law a “fun hobby.” Jacob is first and foremost a people-person, and using his knowledge to help clients in a positive, productive way is what he finds truly gratifying.
A member of the Texas Bar Association, Jacob holds a Juris Doctor degree from the Indiana University Maurer School of Law and a Bachelor of Arts degree from Duke University.
Happily married to his college sweetheart, Jacob is a busy father of four. In his scant free time, Jacob enjoys running, cooking, and introducing his kids to classic 1980s movies.
About Our Presenter
- CPE Credits
- Support and FAQs
- Terms and Conditions
- Privacy Policy
- CPAwebengage, Inc.