Washington D.C., June 7th — The round table event held at the Senate office building in Washington D.C., in which IncentAdvise recently participated, focused on tax literacy from a small business perspective, covering topics such as the R&D Tax Credit, the Tax Cuts and Jobs Act (TCJA), auditing procedures, and more.
Prominent small business owners, including Michael Norris, CEO of Warrant Technologies, were present, along with Senator Todd Young of Indiana, highlighting their commitment to supporting small businesses and promoting tax literacy initiatives.
“Maintaining and encouraging R&D activities here in the United States is critical to spurring economic growth, providing high-quality jobs for Americans, and ensuring our country remains competitive with our international rivals, most notably China. Congress needs to support small businesses like Warrant Technologies by passing my American Innovation and Jobs Act,” said Senator Young.
This invitation underscores the significant impact incentAdvise has had in supporting the tax credit industry and acknowledges its position as an industry leader.
Additional Information from Senator Young:
Senator Young is the Republican lead on a bill called the American Innovation and Jobs Act that would make immediate expensing permanent and end the current five-year amortization framework that came into effect in 2022.
Bill number:S. 866. Press Release: https://www.young.senate.gov/newsroom/press-releases/young-hassan-lead-bipartisan-bill-to-encourage-research-and-development-remain-globally-competitive
Supplemental press release highlighting statements of support from companies and industry groups: https://www.young.senate.gov/newsroom/press-releases/what-they-are-saying-support-grows-for-youngs-american-innovation-and-jobs-act
Senator Young's op-ed: https://news.bloombergtax.com/daily-tax-report/congress-should-restore-r-d-tax-deductions-to-help-us-compete