Engineering Tax Deductions (R&D+179D), the CARES Act and Making the Most of 2020

Wednesday, November 18, 2020, 1:00 – 2:00 pm ET
Presented by Brady Bryan, BBA, JD, CQIA, Founding Member and CEO, Brayn Consulting LLC, and Kevin Sullivan, P.E., Partner, Brayn Consulting LLC

No one likes paying taxes, so why pay more than you should? Both the Research & Development Tax Credit (R&D) and The Energy Efficient Commercial Building Deduction, also known as 179D, are little known, but highly lucrative tax incentives available to engineering firms. The R&D tax credit is based on “qualified research expenses” (QREs) – for every dollar spent on QREs, you can earn up to 8.0% in federal tax credits. Additionally, over 40 states offer similar R&D tax incentives that can double benefits in some cases. The 179D incentive value is $1.80 per square foot of an energy-efficient building and available to engineering firms that design government buildings such as K-12 schools, state university buildings, airports, penitentiaries, and courthouses, and more. And there are additional tax credit benefits due to interplay with the CARES Act. This course will provide clarity on identifying both R&D and 179D eligible projects, and best practices for efficiently capturing requisite data to maximize tax savings.

Learning Objectives: 

  1. Understand the four-part test and basic exclusions to R&D, including the main components of funded versus non-funded research and identify target-rich environments for R&D
  2. Learn how engineering firms are eligible for the 179D Energy Efficient Commercial Building Tax Deduction and will be able to identify 179D eligible projects and understand the process for claiming the 179D incentive
  3. Learn how to optimize time and project tracking to maximize tax credits
  4. Effectuate necessary changes in future tax incentive claims to better position company and owners in case of an audit
  5. Understand and identify additional benefits due to CARES Act legislation
    About your presenters:
    Brady Bryan, BBA, JD, CQIA, Founding Member and CEO, Brayn Consulting
    As BRAYN’s founder and CEO, Brady brings optimal value to mid- market clients through specialty tax incentives in a number of industries including architecture, engineering, construction, manufacturing, and software. A licensed attorney in California and Texas himself, Brady has assembled an all-star team of BRAYNiacs.

    Kevin Sullivan, P.E., Partner, Brayn Consulting LLC
    Kevin is a rare combination of engineer and tax consultant. He is an award-winning expert on sustainable design and construction and licensed as a Professional Engineer in multiple states. As a Partner at BRAYN, he works with businesses and their CPAs