Mastery Quiz: Tax Credits

Dollar-for-dollar tax credits are more valuable than tax deductions.

True

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False

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Which of the following expenses does NOT qualify for a Research and Development (R & D) tax credit? (Select the best answer)

Expenses for heating and air conditioning manufacturing facilities

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New prototypes or models

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Software development

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Developing new manufacturing or business processes

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Improving product efficiency

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Which of the following are types of tax credits that may impact the small businesses and/or startups that you’re mentoring?

Disabled Access Credit Credit

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Employer-Provided Child Care Facilities and Services

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Alternative motor vehicle, electric vehicle and alternative fuel credits

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Credit for small employer pension plan startup costs

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All of the above

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All of the above

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