R&D
Tax Credit
How can we help?
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We work to identify the full benefit of available federal and state tax credits and incentives to our clients. These may include incentives such as the Research and Development Tax Credit, the Energy Efficient Commercial Building Deduction (179D), and Cost Segregation services. We are dedicated to serving small business owners!
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We use these processes and technologies that allow us to conduct a free analysis of the incentives and credits that may be available to you and your small business. These processes provide for an effective and efficient tax credit study. Our analysis focuses on identifying & documenting qualified research costs throughout a small business, from wages to supplies to outsourced contract research expenditures, and quantifying qualified research expenditures. We have leveraged our extensive experience to develop an efficient process that is designed to effectively calculate and authenticate your research tax credits in a manner accepted by the IRS, State & local governments.
Industries
We Work With
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Semiconductor
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Software
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Manufacturing
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Telecommunications
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Paper and forest products
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Chemicals and plastics
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Construction and engineering
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Consumer products
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Automotive
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Oil and gas
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Food processing
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Entertainment and media
Our Core
Services Include
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R&D Tax Credit
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Energy Efficient Commercial Building Deduction – 179D
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Cost Segregation Services
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WOTC Hiring Credit
Is my business eligible for tax credits?
Did you know…that the federal R&D tax credit has been a part of the tax code since 1981? These incentives are designed to reward businesses over a wide range of industries for improving their products, processes, or techniques. The credit is designed to encourage large as well as small companies to invest in research & development activities including but not limited to design, development, engineering, experimentation, trial and error, process improvement, software development, quality assurance, and more. This wage-based credit is intended to stimulate R&D activities among businesses like yours.
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The federal credit (and the 43 state versions of the credit) have been put in place over the years to reward companies that are thinking bigger and better about their products or services. These valuable tax credits allow for additional R&D investment. Currently, the R&D tax credit and other related tax breaks save U.S. businesses more than $12 billion a year, as noted in the Washington Post.
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Certainly an impressive figure—and one that would be even larger if all eligible businesses actually applied for the credit. The R&D credit is one of the most overlooked opportunities afforded to large & small businesses. Unfortunately, the vast majority of eligible small companies are unaware of these benefits or how they may qualify.
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For example, when a business makes any changes to the design or development process to make it more affordable, greener, or more efficient, the business could earn tax credits. This tax credit can be applied to both new product development as well as the production side of manufacturing, software development, fabrication, machine shops, agriculture, architecture, biotechnology, as well as a broad range of other industries. These dollar-for-dollar credits may have a huge impact on your bottom line.
What is the ERC?
The Employee Retention Credit (ERC) was developed to encourage and support employers who retained existing employees throughout 2020 and for the first three quarters of 2021 by offering a generous payroll tax refund through the IRS.
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Eligible businesses could receive a refund of up to $5,000 per employee for all of 2020, and up to $7,000 per employee kept on the payroll for each quarter for Q1 through Q3 of 2021. That’s a total refund of up to $26,000 per employee on your payroll.