About Jeff Hyde: He is with Business Group Resources, who educates small business about the government tax-incentives that are available to them with the primary focus on the R&D tax credit. Prior to joining Business Group Resources, Jeff spent over 15 years on the financial service industry where he had roles in finance, marketing and analytics and he’s now teaching the world about the R&D tax credit. He enjoys spending time with his family going on hikes and playing as much tennis as he can.
In this episode, Carl White and Jeff Hyde discuss:
- How to qualify for the R&D tax credit
- The purpose of the R&D tax credit
- Discovering potential qualification
- Saving money that you’ve earned
Key Takeaways:
- You don’t have to invent something completely original to qualify. Bringing a new function into your practice is enough to qualify for an R&D tax credit.
- The R&D tax credit serves to promote entrepreneurialism, promote investment, and help companies become employers of choice through new training, new equipment, and new mechanisms available.
- Think of techniques, technology, or practices that have helped you grow your business and make it more efficient. These have the potential to get you qualified for the tax credit. However, the best way still is getting an expert to have a look at your practice and discover them.
- Qualifying for the R&D tax credit is a great way to help your independent practice’s bottom line or to save some money. Remember that this is money that you’ve already earned from something you’ve already done. There’s nothing to lose from trying to see if you’re qualified for it.
“Health care as a whole – it relies on research, it relies on new techniques, new procedures, the equipments constantly changing – so again, incorporating those new ideas, concepts, tools – are all helping your new business to be more innovative and more efficient.” – Jeff Hyde
Connect with Jeff Hyde:
LinkedIn: https://www.linkedin.com/in/jeff-hyde/
Website: https://businessgroupresources.com
Want to be a guest on PracticeCare? Have an experience with a business issue you think others will benefit from? Come on PracticeCare and tell the world! Here’s where you can get the process started: https://marketvisorygroup.com/practicecare-podcast/
Connect with Carl White:
Website: http://www.marketvisorygroup.com
Email: whitec@marketvisorygroup.com
Facebook: https://www.facebook.com/marketvisorygroup
YouTube: https://www.youtube.com/channel/UCD9BLCu_i2ezBj1ktUHVmig