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NewswireTODAY - /newswire/ -
South Walpole, MA, United States, 2010/12/15 - Tax Point Advisors - the country's leading tax credit consulting firm - has client featured in NY Times article about importance of impending R&D tax credit extension.
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Tax Point Advisor's client, Yushin America, was featured in a NY Times article this week. According to Managing Partner, Jeffrey Feingold, of the tax credit consulting firm Tax Point Advisors, “We were thrilled to have the opportunity to work with Yushin America in identifying their available R&D tax credits. Yushin is a perfect example of a local, growing company which benefited by the R&D credit program, and is putting that benefit to use in a way that helps to stimulate the economy.” The Federal R&D tax credit expired December of last year, but Tax Point expects Congress to renew the program shortly. “Not only should it be renewed,” Feingold added, “it should be be made a permanent credit, and the value of the credit should be increased, for example, by allowing inclusion of equipment purchases in the R&D calculation. Also by increasing the credit percentage, which has been just ten percent of the qualifying expenditures.”. Feingold also pointed out that, although Tax Point Advisors (taxpointadvisors.com) works with some Fortune 1000 clients, the majority of the firm’s clients are small to mid-size businesses, generally with 10-100 employees, and that this sector of the economy is the growth engine during periods of economic recovery and expansion. Another important point, according to Feingold, is that many of Tax Point’s clients did not realize they qualified for the R&D credit program, or some other credit programs Tax Point offers, because of changes in the rules which Congress enacted to make certain credits more available to small and mid-size companies.
“We work with CPA firms across the country,” Feingold added, “in bringing these tax benefits to their clients. CPA’s and their clients work with us because these credit programs are a specialized area of the tax code, and because our folks who write R&D credit studies have industry backgrounds and experience in fabrication, engineering, process design, product development, etc. This is really more of an industry analysis than just an accounting project.”
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