Credits & Incentives

Tax credits abound. Are you capturing all of them?

 

Get the credits you deserve

 

Almost all industries have qualified R&D activities and expenses. What is qualified for R&D Tax? How do you determine qualified research expenses? Are you getting the tax credits and expenses you deserve?

KPMG’s Research Credit Services practice includes local and national tax, accounting, engineering and technology professionals who specialize in helping companies potentially benefit from these tax incentives.

KPMG uses a tested methodology that is technology enabled to design a customized approach, based on your company and industry, potential IRS exam issues and risk profile, to efficiently collect, analyze and document your R&D activities, expenses and credits. This results in knowing you captured the tax benefits you are eligible for within the definition of this complex tax law.

 

Global Tax Credits and Incentives
A holistic view of global financial incentive programs designed to stimulate actives such as research and development, investment spend, job creation, and sustainability efforts.
Section 45Q Credit for Carbon Oxide Sequestration
A nonrefundable income tax credit on a per-ton basis for carbon oxide that is captured and sequestered.
26% Investment Tax Credit for Waste Energy Recovery Property
This federal investment tax credit (ITC) provides a credit equal to up to 26% of expenditures incurred for waste energy recovery property.
10% Investment Tax Credit for Combined Heat and Power
The federal investment tax credit (ITC) under section 48 provides 10% for combined heat and power (CHP) property.
The Low-Income Housing Credit
More than 3.2 million affordable rental housing units have been created since the low-income housing credit (LIHTC) was enacted in 1986 making the LIHTC program a very important source of funding for affordable housing in the United States today.
Meals and Entertainment Expenses
With 2017 tax reform, Congress took a bite out of the meals and entertainment deduction, but there are still opportunities for 100% deductibility. In particular, provisions in the recent stimulus bill allow 100% deductibility of business meals purchased from restaurants.
Research Credit Meals and Entertainment Services
Reimagining tax...combining KPMG's tax experience with IBM Watson's cognitive capabilities, discover corporate tax benefits and risk with greater confidence.
Qualified Transportation Fringe Benefits
Employers are no longer able to deduct expenditures relating to the qualified transportation fringe benefits provided to their employees unless an exception applies.
IRC §179D deduction for energy efficient commercial building property
A deduction of up to $1.80 per square foot has been available to commercial building owners or lessees that install energy efficient property resulting in at least 50% energy savings compared to a baseline building.

Capitalization Punishment: The New Rules of Section 174

February 17, 2022

Episode 03-2022 | Mandatory capitalization of R&E is here (for now). In this episode, we turn to this sleeper provision from the TCJA and unpack some of the international tax implications from the provision that might ripple through your financial statements and tax returns. [31:41]

The provision for the federal disaster relief tax credit has been extended through 2020.


This general business credit first became available in 2017, in part due to the hurricanes that ravaged the South and the wildfires that swept through California.  The credit is now available through 2020, with opportunities to claim the credit retroactively, including amending federal return filings for refunds. 


R&D Tax Credit 2020 Year in Review

Professionals from KPMG's Credit Services practice discussed the significant developments that came about in 2020 regarding the R&D tax credit and other tax treatment of R&D.

Professionals from KPMG's Credit Services practice discussed the significant developments that came about in 2020 regarding the R&D tax credit and other tax treatment of R&D.

Opportunity knocks under tax reform

Qualified Opportunity Funds (Q Funds) present a new possibility for taxpayers under the new U.S. tax law.

Qualified Opportunity Funds (Q Funds) present a new possibility for taxpayers under the new U.S. tax law.

 

Related Services

 

Contact us

Edward Jankun

Edward Jankun

Managing Director, Co-leader, Credit Services, KPMG US

+1 704-371-8090
Richard Marcos

Richard Marcos

Principal and Tax Credits Practice Leader, KPMG US, KPMG US

+1 213-817-3188