Scenario : R&D Tax Credit Research & Development
A technology company incurs the following qualified research expenses:
Wages: $
Supplies: $
Contract Research: $
Current year gross receipts: $
Base period gross receipts prior years average: $
Interest & Dividend Income: $
Itemized Deductions: $
Allowable deduction for selfemployment tax: None all employees, no selfemployment income
Calculate:
The potential R&D tax credit consider regular and simplified methods
Impact on AGI, Taxable Income, and Total Tax Liability
