The Research and Development tax credit (R&D) encourages U.S. businesses to conduct technical research by allowing them to keep more of their profits and reduce tax liabilities for past, current, and future years.
The R&D tax credit rewards businesses for developing or improving products or processes, regardless of industry. This tax credit equates to a dollar-for-dollar reduction in federal tax liability, and it’s accepted in 38 states. Based on your R&D expenses, the credit offers an immediate source of cash to jump-start new research or provide cash liquidity for your business. With the ability to retroactively claim the R&D tax credit for up to 3 years, many companies are eligible to receive significant cash recoveries.
The IRS utilizes a 4-part test to identify eligible research. To qualify, your Research and Development activities must:
Our expert team conducts a full analysis of your business and operations to identify qualified research projects and determine your potential savings with the R&D credit. We work closely with your business to maximize your credit potential every year.
