Tax Credits & Cash Your Bank May Be Missing

(90-minute webinar – recording also available)

Friday, May 29, 2020

This is a morning webinar

8:00 AM Pacific            9:00 AM Mountain

10:00 AM Central         11:00 AM Eastern

Is your bank leaving valuable tax credit money on the table? The answer might just surprise you! Even if you’re a small financial institution, chances are good that some activities within your IT function qualify as “research and engineering” even if you’re not developing any software! Don’t miss out! 

AFTER THIS WEBINAR YOU’LL BE ABLE TO:

• Determine which IT-related costs at your bank are eligible for a tax credit
• Understand the definition of "research and engineering" costs for R&D tax-credit purposes
• Navigate the legal landscape at the state and federal levels
• Understand key IRS guidance for claiming an R&D tax credit
• Develop a framework for identifying, qualifying, and quantifying R&D eligible costs and activities
• Maintain a process to secure and optimize an annual R&D tax credit benefit

WEBINAR DETAILS

Has your bank spent money on IT personnel, software enhancements, external IT support services, or business process consultants to improve internal systems or customer interfaces?  If so, these costs and activities are eligible when computing state or federal R&D tax credits.  The R&D Tax Credit (IRC Sec. 41) has been around since the 1980s as an incentive to motivate taxpayers to maintain engineering and development activities in the United States.

What does this mean for community banks?  A treasure trove of tax credits, i.e. CASH. Whether your bank has only recently invested in IT or has a history of IT infrastructure improvements, these software and IT development costs are eligible for both state and federal tax credits and often yield cash refunds.  This means a dollar-for-dollar reduction in taxes paid or due – even if the costs did not result in any technological advancement.

This presentation will review the eligibility criteria of qualifying and quantifying banks’ R&D tax credits and outline the mechanics to secure an R&D tax credit on current-year tax returns and the potential of seeking prior-year tax refunds.

WHO SHOULD ATTEND?

This informative session is designed for bank CFOs, controllers, accounting staff, and IT professionals. Ideally, IT and accounting staff will attend together to maximize understanding and the benefits of this course material. 

TAKE-AWAY TOOLKIT

• Employee training log
• Interactive quiz 

MEET THE PRESENTERS

Regina Goyette Staudacher, Howard & Howard Attorneys PLLC

Regina Goyette Staudacher concentrates her practice in the areas of strategic tax planning and dispute resolution for companies with global operations and multistate activities, including the IRS and various state taxing agencies. She works closely with clients to maximize global tax and economic incentives, as well as financial structures to facilitate corporate growth and relocation projects. These projects involve all aspects of credits and incentives.  Gina manages a team of attorneys focused on corporate incentive projects across the country for both public and private companies that range from complex corporate structures to startups.

Lindsey O'Malley, Howard & Howard Attorneys PLLC

Lindsey O'Malley focuses her practice on corporate tax incentive projects across the country for both public and private companies ranging from complex corporate structures to startups. These projects involve all aspects of credits and incentives. She has advised her clients throughout a variety of industries including manufacturing, automotive, technology, and financial services. Lindsey began her career as an auditor for a Big 4 accounting firm and after law school pursued a career as a tax consultant at several large public accounting firms.

Note: All materials are subject to copyright. Transmission, retransmission, or republishing this webinar to other institutions or those not employed by your financial institution is prohibited. Print materials may be copied for eligible participants only.

THREE REGISTRATION OPTIONS

1. LIVE WEBINAR

The live webinar option allows you to have up to three internet connections. Registrants receive a website address and passcode that will allow entrance to the seminar. The session will be approximately 90 minutes, including question and answer sessions. Seminar materials, including instructions, passcode, and handouts will be emailed to you prior to the broadcast. You will need the most-current version of Adobe Reader available free at www.adobe.com. 

2. RECORDED WEBINAR + FREE DIGITAL DOWNLOAD

Can’t attend the live webinar? This option provides a recording of the live event, including audio, visuals, and handouts. We even provide the presenter’s email address for follow-up questions. You will receive an email with the recorded webinar link, which can be viewed anytime 24/7, beginning 2 business days after the webinar. You will also receive instruction on how to download a free digital copy of the webinar to your PC, which you may keep and use indefinitely.

3. BOTH LIVE WEBINAR & RECORDED WEBINAR + FREE DIGITAL DOWNLOAD

Options 1 and 2 described above.

 AFFORDABLE, PROFESSIONAL TRAINING, WHEN AND WHERE YOU CHOOSE