For Immediate Release
Contact: Chris Anderson
Bizmanualz, Inc.
(314) 918-0990 (tel)
(314) 918-0980 (fax)
chris@bizmanualz.com
Research & Experimentation Tax Credit Restored,
Get Money Back for Processes and Procedures
St. Louis, MO - November 19, 2004 - Wouldn’t it be nice to get some of your money back that you have invested in developing policies, procedures and processes for your organization? Well, business owners and executives can with the recently restored tax credit. And Bizmanualz can help customers who purchase products and services such as ISO 9001 QMS Policies, Procedures & Forms and ISO training courses (for a complete list, click here).
$7.6 billion in tax credits are now available. In September 2004, President Bush signed the $146 billion tax cut bill restoring the recently expired business Research & Experimentation Tax Credit. The 18-month renewal of the research and experimentation tax credit, which expired June 30 2004 , was the most expensive item with an expected $7.6 billion cost through 2014.
If companies are spending money on ISO 9000, six-sigma, lean manufacturing, TQM, or any other initiative focused on improving your products or processes, then you could qualify. This includes software purchases, training courses, labor, and of course the purchase of any Policies, Procedures and Forms products or services (For a detailed list of such eligible products, click here).
This is an immediate source of cash for business owners and executives. And this is an actual dollar-for-dollar tax credit against your tax liability and not a deduction. You can deduct all costs in the year incurred. And better yet, these regulations are retroactive, which means you can get a refund for previous years.
- If you fit these five basic requirements for research, then you might qualify under the latest regulations.
- New or Improved Product, Process or Software. Research must derive ways to improve a product or process such as development or improvement of a formula, invention or technique.
- Technological. Research objective must be to discover technological information, based upon principals including computer science or engineering.
- Research Involves Uncertainty or Risk. It must involve uncertainty or risk associated with the design or method of design achievement, not including general business risk.
- Experimentation Process. It must be well-documented and include failed and successful efforts.
- Permitted Process. Activity for product or process improvement must relate to a function, performance, reliability or quality.
These tax credits are just waiting out there. There is no better time to obtain ISO auditor training, well-defined process training, business process consulting, or to get the maximum value out of a helpful key like the Management Procedures Value Series. Tax credits may expire again later in 2005, so act before it is too late.
Bizmanualz offers training, department manuals and process development consulting for: Accounting, Human Resources, and ISO Quality Management Systems. Bizmanualz Policies & Procedures products combine a printed manual with easily editable MS-Word documents on CD-ROM enabling executives to create and maintain internal controls. Products are available through the company's web site www.Bizmanualz.com, www.Amazon.com, www.bn.com and other affiliates. Dealer programs are also available.
For more information, contact: Chris Anderson, Bizmanualz, Inc. 314-863-5079 chris@bizmanualz.com
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