NASSAUSUFFOLK

 View Only
  • 1.  R&D expenses and credits

    Posted 02-27-2023 01:15 PM
    Hi All,

    Does anyone have a number or know a firm or person that can assist in handling of R&D 
    expenses and credits.

    Thanks

    Steven Sabilia, CPA
    Steven M. Sabilia, CPA, P.C.
    200 Hempstead Ave
    Lynbrook, NY  11563
    T: 516-825-5050
    F: 516-593-9222
     
    Important: This electronic mail and any attached files contain information intended for the exclusive use of the individual(s) or entity to whom it is addressed and may contain information that is proprietary, privileged, confidential and /or exempt from disclosure under applicable law. If you are not the intended recipient, you are hereby notified that any viewing, copying, disclosure or distribution of this information may be subject to legal restriction or sanction.
     
    Please notify the sender, by electronic mail or telephone, of any unintended recipients and delete the original message without making any copies.
     
    .


  • 2.  RE: R&D expenses and credits

    Posted 02-27-2023 01:20 PM
    I used Alliant Group several years ago for R&D tax credits.     
    713.513.1798






  • 3.  RE: R&D expenses and credits

    Posted 02-27-2023 04:49 PM
    Thank you

    Steven Sabilia, CPA
    Steven M. Sabilia, CPA, P.C.
    200 Hempstead Ave
    Lynbrook, NY  11563
    T: 516-825-5050
    F: 516-593-9222
     
    Important: This electronic mail and any attached files contain information intended for the exclusive use of the individual(s) or entity to whom it is addressed and may contain information that is proprietary, privileged, confidential and /or exempt from disclosure under applicable law. If you are not the intended recipient, you are hereby notified that any viewing, copying, disclosure or distribution of this information may be subject to legal restriction or sanction.
     
    Please notify the sender, by electronic mail or telephone, of any unintended recipients and delete the original message without making any copies.
     
    .





  • 4.  RE: R&D expenses and credits

    Silver Most Valuable Member
    Posted 02-27-2023 04:58 PM

    Really knows his stuff:

    JOHN KAPRAL JD, CPA, LLM

    TRI-MERIT 

    1051 PERIMETER DR., SUITE 370

    SCHAUMBURG, IL 60173

    MOBILE: 916-601-0602

    WEBSITE:  TRI-MERIT.COM

    R&D TAX CREDIT | COST SEGREGATION | 179D | 45L | EMPLOYEE RETENTION CREDIT

    John patiently explained the Employer Retention Credit to me.

    Good luck!



    ------------------------------
    Marc Lusthaus
    CPA
    ROBERT S. LUSTHAUS, CPA PC
    Plainview NY
    ------------------------------



  • 5.  RE: R&D expenses and credits

    Posted 02-27-2023 05:54 PM
    Thank you very much!


    Steven Sabilia, CPA
    Steven M. Sabilia, CPA, P.C.
    200 Hempstead Ave
    Lynbrook, NY  11563
    T: 516-825-5050
    F: 516-593-9222
     
    Important: This electronic mail and any attached files contain information intended for the exclusive use of the individual(s) or entity to whom it is addressed and may contain information that is proprietary, privileged, confidential and /or exempt from disclosure under applicable law. If you are not the intended recipient, you are hereby notified that any viewing, copying, disclosure or distribution of this information may be subject to legal restriction or sanction.
     
    Please notify the sender, by electronic mail or telephone, of any unintended recipients and delete the original message without making any copies.
     
    .





  • 6.  RE: R&D expenses and credits

    Bronze Most Valuable Member
    Posted 02-28-2023 05:11 PM
    Before you go the route of Alliant Group, do a Google search of Alliant Group and IRS.  I think you will want to stay away - the IRS is pursuing them as an ERC mill, and auditing firms making referrals to Alliant.









  • 7.  RE: R&D expenses and credits

    Posted 03-01-2023 06:38 AM
    If you Google the name Alliant Group on scroll down you will see a news piece explaining an IRS Criminal Investigation and Department of Justice raid, removing records from their Texas headquarters. They have been the subject of investigation at vars levels of IRS for some time now as they have been known to take quite aggressive positions. 
    It gets more involved then that. From what I understand, they expect a large fee for their work on the credit, and then if the client is audited they don't look to refund any part of the fee. Also, there is a question if audited how much they are able to support their work. 
    When the IRS looks at a potentially abusive situation, which includes promotors and overly aggressive preparers, they can use the data they obtain, like a client list, to select potentially abusive returns for examination.  Consider that when determining if you wish to do the credit yourself, with proper scrutiny, or send your client to an outside specialist. 
    I am a retired large case revenue agent, after 40+ years with IRS. I was a coordinator on some of Long Island's  largest examinations, which included the R&E credit. After our examinations of the issue, and some resulted in significant audit changes, I would walk the tax director thru the changes and explain how to follow thru how it was computed properly, so they could continue in the same way going forward. 
    Unless there is a major complexity involved, and even then with proper research, there is no reason a reasonable accountant can't do the credit calculations. People get intimidated by the idea of doing something new. If you follow the instructions and read the regulations it is not that complex. 
    There is no need to go to an outside specialist if it is something that if you take your time, properly compile the data and compute the properly allowable credit
    After all, who knows your client better then you do , to understand their operation and properly compile the expenses that should be allocated to the credit and, should it be questioned, who would be in a better position to explain how those amounts were arrived at. For that reason, why "farm it out" when you can do it yourself and probably, even if including  research time, gain fees , and do it at a lesser cost to your client.
    If I can help anyone along the way, feel free to contact me directly,,,I do not prepare tax returns, just consult on tax matters where preparers need guidance, or assistance in some matters they are not used to, based on my prior experience..ie issues such as sale of business, sec 1031, 108 exclusions,     Howard Silverman  silvermantaxconsult@gmail.com






  • 8.  RE: R&D expenses and credits

    Bronze Most Valuable Member
    Posted 03-02-2023 12:35 AM
    Thank you Howard for this detailed response to what is an important topic, not to mention your insight in specialists that our members could be engaging with on behalf of their clients. Your experiences and perspective are invaluable to our members and we are grateful to have you as a part of our organization.
     
     James E Hall, CPA, CEPA 
      277 Indian Head Road
      Kings Park, NY 11754
      p: (631) 269-7500
      f: (631) 355-7293

      
     
    Privileged and Confidential-this communication and any accompanying documents are confidential and privileged. They are intended for the sole use of the addressee. If you receive this transmission in error, you are advised that any disclosure, copying, distribution, or the taking of any action in reliance upon this communication is strictly prohibited. Moreover, any such disclosure shall not compromise or waive the attorney-client, accountant-client, or other privileges as to this communication or otherwise. If you have received this communication in error, please contact me at the above email address.   Thank you.





  • 9.  RE: R&D expenses and credits

    Posted 03-01-2023 08:52 PM
    Thank you, 

    Steven Sabilia, CPA
    Steven M. Sabilia, CPA, P.C.
    200 Hempstead Ave
    Lynbrook, NY  11563
    T: 516-825-5050
    F: 516-593-9222
     
    Important: This electronic mail and any attached files contain information intended for the exclusive use of the individual(s) or entity to whom it is addressed and may contain information that is proprietary, privileged, confidential and /or exempt from disclosure under applicable law. If you are not the intended recipient, you are hereby notified that any viewing, copying, disclosure or distribution of this information may be subject to legal restriction or sanction.
     
    Please notify the sender, by electronic mail or telephone, of any unintended recipients and delete the original message without making any copies.
     
    .





Discussion Disclaimer

The opinions expressed are the views of the author alone and should not be attributed to any other individual or entity and shall not constitute an accounting opinion.