We developed and will host the following panel discussion at this major AFS convention:
Panel Title: Maintenance and R&D Cost Recovery
Spending a lot to reline and maintain your furnaces, as well as other capital equipment? Following standard accounting practice, many foundries capitalize such costs over the life of the equipment.
The panel will review and discuss an alternative approach that may allow you to take such expenses in the year they are incurred.
The Research & Development (R&D) Tax Credit, which is one of the few tax credits still available to Metalcasters, will also be discussed. Once applicable to only the largest companies, recent changes in the tax law allow small and medium sized companies to also qualify. Many foundry activities are now qualified as R&D expenses.
Application of these tools can improve your cash flow and increase profits.