Ask the Manufacturing Specialist: Research and Development Tax Credit for Manufacturers
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Posted by Michael S. on March 10, 2016 in Manufacturer Focus

 

Acuity Insurance’s manufacturing specialist, Mike S., brings you up to speed on an important topic for tax season, research and development tax credits that are available to manufacturers. This tax credit is for manufacturers that perform research and development. It was recently made permanent and was expanded to companies with less than $50 million in revenue. This research and development tax credit isn’t just a tax deduction, but is a full dollar to dollar tax credit on the taxes owed.

 

Our goal at Acuity is to make your life easier—whether that is keeping you protected through our insurance products, supporting you during a claim, or helping you grow your business. That is why we hire industry experts, such as Mike, to provide you with manufacturing information on a variety of topics. If you have a question you want to ask Mike please email him at simply.acuity@acuity.com.

 

To learn more about the R&D tax credit, check out the IRS website.

Michael S. is our Manufacturing guru
I have over 30 years experience in a broad range of manufacturing areas. Starting with an apprenticeship in Germany I’ve worked my way through a variety of positions within the manufacturing field. I got my start as a Tool and Die maker. I next became a supervisor of a class A tool room, then manager of a machining department. I was exposed to lean manufacturing in the mid 90s and adapted the lean philosophy. Loving and teaching the lean approach, I moved on to become a Continuous Improvement manager which led to a job as a manufacturing manager. I joined Acuity in 2015 as their manufacturing expert. I hope to evolve how manufacturers deal with and think about insurance companies, as well as be a resource to my fellow employees – enabling them to better understand the unique needs of manufacturers.


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