The craft beer industry has grown substantially in the past 5 years and many breweries are missing out on an opportunity for significant tax savings. The activities and expenses you already undertake every day to develop new or improved products, packaging, and brewing or manufacturing techniques can qualify you for the R&D tax credit. The definition of R&D for IRS purposes is expansive and the tax credit is a dollar for dollar offset against your tax liability. Most breweries aren’t aware that they can minimize their tax burden by utilizing credits generated by research and development activity. K-Coe Isom has recorded the R&D Tax Credit Webinar to help you understand this tax credit.
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