As part of a new stimulus package to encourage businesses to hire and invest, the president proposed to make permanent the research and experimentation tax credit.How does that tax credit work? Very simply, the credit is calculated by counting research and experimentation costs, multiplying by a certain rate, and subtracting (or deducting) that amount from taxable corporate income. The more you research and experiment, the more you save on your taxes. (More here.)
To read the full, original article click on this link: 3 Questions About Obama's Tax Credit for Innovation - Business - The Atlantic
