It can often come as a big surprise when CPAs and businesses learn how many different industries are eligible for the Research & Development Tax Credit (R&D). These federal and state tax credits offer excellent opportunities to convert R&D expenses (developing new or improved products, processes or software) to valuable R&D tax credits. This incentive is the most valuable program an innovative company can claim. It is a dollar-for-dollar offset against previous, current, and future tax year liabilities.
This credit provides a competitive advantage for businesses that develop, design or improve products and techniques. Companies of all industries range between 10-20% ROI for their R&D efforts. For 2016 with the credit’s permanency, we anticipate our client’s benefits to nearly double.
Plus, recent IRS regulations have made it easier to qualify for many businesses. A revised method of computing the R&D Tax Credit and the desire of the US government to increase domestic R&D activity have all made it easier for companies to claim these credits. It is however important to find a provider to help capture and substantiate these credits – that’s where Indago comes in.
Check to see if your company’s industry qualifies for the Research and Development Tax Credit:
Indago has experience with all the listed industries, averaging only 4-6 weeks to complete calculations, federal and state forms, and reports. Send us an email at [email protected] or visit the Indago website to learn more about the Research and Development Tax Credit and what your tax savings could be today!
