The credit for increasing research activities, often referred to as the research and development (R&D) credit, is a valuable tax break available to eligible businesses. Claiming the credit involves complex calculations, which we can take care of for you. But in addition to the credit itself, be aware that the credit also has two features that are especially favorable to small businesses: Eligible small businesses ($50 million or less in gross receipts) may claim the credit against alternative minimum tax (AMT) liability. The credit can be used by certain even smaller startup businesses against the employer’s Social Security payroll tax liability. Let’s take a look at the second feature. Subject to limits, you can elect to apply all or some of any research tax credit that...