How R&D Tax Credits Impact Acquisitions with Bob Stabell

In this episode of the M&A Launchpad Podcast, hosts Casey Minshew and Ben Suttles sit down with Bob Stabell of Think Tax Strategies to discuss how R&D tax credits, revitalized and expanded under the One Big Beautiful Bill, are creating real leverage for business buyers. Bob breaks down what qualifies today, how credits can be accessed retroactively in certain situations, and why these incentives matter far beyond traditional manufacturing or technology companies. This conversation is especially relevant for buyers navigating acquisitions in the lower and middle market, where tax strategy can materially impact deal economics, post-close cash flow, and negotiations with sellers. In this episode, we discuss: How R&D tax credits actually work and why they differ from deductions What types of businesses qualify today, including service and field-based companies How buyers use credits as negotiation and cash-flow tools in acquisitions What the process looks like and how Bob’s team supports CPAs and buyers Guest Contact Information Bob Stabell Think Tax Strategies Website: thinktaxstrategies.com Email: [email protected] Additional Resources Sponsored by O’Connell Advisory Group – Work with a trusted Quality of Earnings and Financial Diligence partner who focuses solely on business acquisitions. Visit: www.oconnelladvisorygroup.com Join us at the M&A Launchpad Conference on May 2, 2026 in Houston. Use code LAUNCH for $150 off your ticket. Learn more at: malaunchpad.com Contact the M&A Launchpad team at: [email protected] Explore more resources at: equity-launchpad.com Chapters        00:00 – M&A Launchpad Conference invitation + code LAUNCH for $150 off 00:57 – Introducing Bob Stabell and the opportunity created by the “Big Beautiful Bill” 02:28 – Bob’s background: 30+ years in tax incentives and R&D credits 04:12 – “It’s not what you make, it’s what you keep”: why buyers should care 04:26 – What changed under the Big Beautiful Bill (retroactive access and timing) 06:16 – R&D credit history and how “new to you” expanded eligibility 07:30 – Credit vs. deduction: why the math works differently 09:09 – Superseding returns vs. amendments and how refunds get processed faster 10:10 – Service business examples: how companies qualify without “creating widgets” 11:24 – Field fixes and prototypes: what counts as qualified activity 12:38 – What you need to provide (tax returns, payroll, financials) and what the team does 13:03 – Real-world results: six-figure credits and how they carry forward 14:10 – Acquisition structure, stub years, and how credits create negotiation leverage 15:40 – Ongoing benefit: lowering quarterly tax payments and improving cash flow 18:34 – Audit defense and why the technical report matters 20:48 – Other strategies buyers miss: cost segregation, 179D, and “out of matrix” review 22:14 – How big is this program? Budget growth and who benefits most 24:57 – How Bob works with CPAs to get filings done correctly 28:21 – Fees and billing: retainer + percentage of credits collected (typical ROI framing) 31:07 – Is it permanent? How the credit became part of the tax code long-term 32:54 – How to reach Bob for a quick fit-check call 33:18 – Rocket Round