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resource box is included with article along with my full signature file for ezines and my Web address (http://www.bizmanualz.com) in hyperlink for other sites. This article is 443 words long. Thanks for your interest.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, you can with recently restored tax credit.
$7.6 Billion in Tax Credits are Available
In September 2004, President Bush signed $146 billion tax cut bill restoring recently expired business Research & Experimentation Tax Credit. The 18-month renewal of research and experimentation tax credit, which expired June 30 2004, was most expensive item with an expected $7.6 billion cost through 2014.
Process Improvement Qualifies
If you 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 purchase of any Policies, Procedures and Forms products or services.
An Immediate Source of Cash
This is an actual dollar-for-dollar tax credit against your tax liability and not a deduction. You can deduct all costs in year incurred. And better yet, these regulations are retroactive, which means you can get a refund for previous years.
