people like Frank were negatively affected by the Pandemic, Shirley Fisher and her husband Jake were very creative- They turned their little company (a C Corporation) that was ready to close down and realized their machinery could produce equipment (PPE) and face masks for hospitals, health care workers and consumers. The company made over $2,000,000 this year through July 31^st. This will all be taxable income.

 You will suggest to Shirley and Jake in a well-drafted letter what they might do before the end of the year to reduce their tax liability. Among your suggestions (and you may have others of your own) is that they meet Erich who has worked for a company for over 30 years that designs and develops research and development tax credits that reduce taxable income. Explain to Shirley and Jake how these credits work, how are the amounts determined, and what are your authorities (primary and secondary) that make you feel comfortable (OR NOT!).