that like dividing up the payment between alex graham and i on this the family the iced coffee hour clips all this stuff it would make sense to have someone just to handle we're doing it all ourselves basically but for the time saved but first i want to thank our sponsor trent jack have you heard about trends no i haven't but man i sure wish i had some sort of service that would tell me about all these new things that are coming out well i have great news man trends is exactly what you're looking for business and finance is an extremely competitive space and it always feels like everyone around me is one step ahead but that is until i got trends trends is a networking hub with a thriving community of entrepreneurs and ambitious people and they're constantly learning and collaborating on business ideas and projects trends even host live business training and q a sessions where you can learn the latest marketing tactics and fundraising strategies from their team of business analysts and when you subscribe you instantly get access to the trends community meaning you could potentially link up with other ambitious people kind of like yourself don't make the same mistake others have made and learn from the accumulated wisdom of people just like yourself that have made their dream a reality trends is a tool to help you find a very valuable mentor and guidance in the sometimes scary world of work and being an entrepreneur man if only i had trends to teach me about trends months ago so take advantage of this special offer that they are only giving to iced coffee our listeners when you visit trends dot co slash ich you can get a seven day trial for just one dollar that's trends dot co slash ich to get a seven day trial for just one dollar thank you so much trends for sponsoring this episode and back to the podcast yeah and and see there are some really cool uh things that i think a great cpa can help you out on a lot as well see there's something called a research development tax credit i'll give you a quick example of this there's a limit to it i think the limits NUMBER_TOKEN NUMBER_TOKEN a year but i'll give you an example let's say you spent uh NUMBER_TOKEN NUMBER_TOKEN on on a new business idea that was a new innovation or something like that well you so you can write that off so in california i'd i'd take a NUMBER_TOKEN NUMBER_TOKEN write-off which would save me about NUMBER_TOKENk in taxes so i spent NUMBER_TOKENk on a new idea that saves me NUMBER_TOKENk in taxes which means i've taken NUMBER_TOKEN NUMBER_TOKEN out of my pocket and and spent it in reality but now there's this research and development tax credit where you can take NUMBER_TOKEN as a tax credit on top of that so NUMBER_TOKEN of NUMBER_TOKENk is NUMBER_TOKENk credit uh to offset that NUMBER_TOKENk so now i've actually only taken NUMBER_TOKEN NUMBER_TOKEN out of my pocket to do NUMBER_TOKEN NUMBER_TOKEN worth of work that's really incredible that's something to look into that's the research development tax credit and again it has to be for something innovative there rules for it you could only do it for five years NUMBER_TOKENk max per year so what did you spend that on this year well i haven't this year okay uh but i i plan to in the next years yeah yeah wow why didn't you do it for this year you still got another week
START_SPONSOR_TOKEN but first i want to thank our sponsor trent jack have you heard about trends no i haven't but man i sure wish i had some sort of service that would tell me about all these new things that are coming out well i have great news man trends is exactly what you're looking for business and finance is an extremely competitive space and it always feels like everyone around me is one step ahead but that is until i got trends trends is a networking hub with a thriving community of entrepreneurs and ambitious people and they're constantly learning and collaborating on business ideas and projects trends even host live business training and q a sessions where you can learn the latest marketing tactics and fundraising strategies from their team of business analysts and when you subscribe you instantly get access to the trends community meaning you could potentially link up with other ambitious people kind of like yourself don't make the same mistake others have made and learn from the accumulated wisdom of people just like yourself that have made their dream a reality trends is a tool to help you find a very valuable mentor and guidance in the sometimes scary world of work and being an entrepreneur man if only i had trends to teach me about trends months ago so take advantage of this special offer that they are only giving to iced coffee our listeners when you visit trends dot co slash ich you can get a seven day trial for just one dollar that's trends dot co slash ich to get a seven day trial for just one dollar thank you so much trends for sponsoring this episode and back to the podcast END_SPONSOR_TOKEN