Form 6765 R&D expense - new for me

[schirallicpa]

Has anyone else worked thru this credit.  I have a small client that may be eligible.  But 2 initial questions:

They are a cash basis taxpayer.  I assume the amount included in his Schedule C cannot be included in the 6765 amounts - or we would be double dipping.(?)

He missed the filing deadline and is filing late.  I know he cannot take credit on payroll related expense, but can he still take credit on other expense incurred.  Or is this credit lost with missing deadlines?

[BulldogTom]

I personally don't do R&D credits.   Too much work, too long of a tail, not enough time to keep up on the education needed, not enough experience, not enough clients who qualify to keep me sharp at it.   I refer them out.

Tom
Longview,  TX

[Lee B]

1 hour ago, BulldogTom said:

I personally don't do R&D credits.   Too much work, too long of a tail, not enough time to keep up on the education needed, not enough experience, not enough clients who qualify to keep me sharp at it.   I refer them out.

Tom
Longview,  TX

It definitely not a straightforward simple process.