Research Tax Credits
IS YOUR FIRM MISSING OUT ON THE RESEARCH TAX CREDIT?
If your company has invested time, money and resources to the advancement and improvement of your company’s product or processes, then you likely qualify for the Federal R&D Tax Credit Incentive Program. However, many firms are unaware of how or even what to qualify; thus, the credit goes unclaimed year after year.
THE R&D TAX CREDIT OPPORTUNITY:
- A hidden and immediate source of cash for many small and mid-size companies
- A significant reduction to current and future year’s federal and state tax liabilities
- Over $5 Billion in federal R&D tax credit benefits are given out annually
- Approximately 80% of the $5 Billion goes to a few of the nation’s largest companies
IF YOUR COMPANY IS INVOLVED IN ANY OF THE FOLLOWING ACTIVITIES, YOU MAY BE ABLE TO CLAIM THE R&D DOLLAR FOR DOLLAR TAX CREDIT:
- Manufacture products
- Developing new, improved, or more reliable products/processes/formulas
- Developing prototypes or models (including computer generated models)
- Designing tools, jigs, molds, and dies
- Developing or apply for patents
- Certification testing
- Applying for patents
- Testing new concepts
- Development of new technology
- Trying new materials
- Adding new equipment
- Environmental testing
- Developing or improving production /manufacturing processes
- Developing, implementing or upgrading systems and/or software
- Developing production control software
- Improving or building new manufacturing facilities
- Automate internal processes
- Paying outside consultants/contractors to do any of the above stated activities
Below is a short sample of R&D tax credits conducted in the past year.
| INDUSTRY TYPE | ANNUAL REVENUE | R&D TAX CREDITS |
|---|---|---|
| Manufacturing | $50M | $410,475 |
| Prototype | $6M | $86,978 |
| Design / Engineering | $15M | $189,924 |
| Software | $1.5M | $45,234 |
| Bakery Products | $25M | 201,345 |
ARE YOU LEAVING MONEY ON THE TABLE?
We find that 8 out of 10 businesses and commercial property owners are leaving money on the table every year.
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