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COVID Relief Act (CAA): What it Means for R&D Tax Credits, 179D, & 45L

COVID RELIEF ACT (CAA): WHAT IT MEANS FOR R&D TAX CREDITS, 179D, & 45L

Cost Free
Presentation Length 1.0 hour

Recorded DateJanuary 29, 2021
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaTaxes
Course LevelBasic
Course Description

Former President Trump signed the Consolidated Appropriations Act of 2021 (CAA) into law on December 27, 2020. The CAA included a host of individual, business, payroll, disaster, and energy-related tax provisions, as well as two key tax extenders: the 179D Energy Efficient Commercial Building Deduction was made PERMANENT, and the 45L Energy Efficient Homes Credit was extended through 2021. Section 179D allows a deduction of up to $1.80/SF for new and renovated buildings and applies to private commercial property owners and designers/contractors working on publicly owned properties. The 45L Tax Credit allows a $1,000 or $2,000 tax credit to builders of energy-efficient homes and apartments meeting certain qualifying criteria.

Additionally, the CAA clarifies that taxpayers whose PPP loans are forgiven are allowed deductions for otherwise deductible expenses paid with the proceeds of a PPP loan. Companies claiming the federal R&D tax credit can breathe a sigh of relief given that qualified research expenses must be capable of treatment as a Section 174 expense.

In this webinar, BRAYN's Director, Jason Villere, will cover what this means specifically for your business and how to maximize these highly lucrative tax credits and deductions.

Learning Objectives:


  • Identify new provisions included in the CAA

  • Determine how the CAA affects tax credits and deductions for businesses

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Brayn

Jason joined BRAYN Consulting LLC in 2018. As a business management professional, Jason has over 15 years of experience with treasury management, internal audit consulting, project accounting, financial reporting, and managing sales teams. Jason is a skilled leader with demonstrated ability to effectively achieve process improvement, manage change, and create diverse, cross-functional, quality-driven teams to implement corporate-wide improvements.

Jason obtained a BS in Accounting from LSU and an MBA from Sam Houston State University. Jason currently holds a license as a Certified Treasury Professional, CTP.

About Our Presenter

Brayn
BRAYN is a niche consulting firm that guides businesses to greater value through tax credits and incentives, such as R&D Tax Credits, Cost Segregation, 179D, 45L, and Fuel Tax Recovery. The BRAYNiacs are a team of lawyers, engineers, and accountants with extensive industry experience hailing from Big-4 and other national consulting firms. We work collaboratively with your CPA firm to assist in the review, documentation, and substantiation of the tax incentives specific to your business. At BRAYN, we focus on building quality relationships where we are a key partner in driving business prosperity.