Using R&D Credits in Your Tax Strategy

Derick Van Ness is the Founder of Big Life Financial, a company that focuses on removing
the mystery and misinformation surrounding money and financial strategy so people can live their biggest lives! He is a wealth strategist who is passionate about helping people reach their full potential by eradicating fear and fundamentally changing the way people think about and utilize money. In this episode of the Progressive Dentist podcast, Derrick joins us to share his journey and talk about how R&D credits can help small business owners keep more of what they make.

The Burden of Taxes

Derick recognized the heavy burden that taxes are for small business owners, and he was determined to help take some of the weight off their shoulders to create financial flexibility. He is passionate about working with his clients to free up resources and enable them to do what they want with their lives. He is always digging around for new opportunities to create higher levels of tax efficiency, greater rates of return, and to implement new strategies specific to each client’s niche. R&D credits was one of the new opportunities he dug up, and it is proving to be extremely valuable for his clients across the board.

Qualifying for R&D Credits

Everyone loves getting big return checks back from the IRS, and R&D credits have proven their worth in that regard. But when you talk to your CPA about incorporating R&D credits into your tax strategy, you want to make sure your business qualifies. This tactic is not for everyone, and Derick can work with you to determine the best approach. His process identifies four key indicators as to whether or not R&D credits are a good fit. But for businesses like dental practices, it is usually not an issue. As always, please visit me at www.theprogressivedentist.com for more informative podcast episodes with other remarkable business leaders.