Research & Development Tax Credit
Wondering if your business could leverage the R&D tax credit?
The Research & Development (R&D) tax credit rewards taxpayers for engaging in qualified research activities (QRAs) by providing a credit for a portion of their research expenses. QRAs are the activities a business performs that would qualify towards the R&D Credit. If the activity can pass a four-part test, then it would be considered a qualified research activity and included in the computation of the R&D Credit.
This tax credit can apply to a variety of industries, for example, Manufacturing, Software & Technology, Food & Drink, Construction and more.
If you are wondering if the R&D tax credit could benefit your business, fill out the form below and we will be in touch via email to see if you are a good candidate for this tax credit.
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Looking for more R&D resources?
If you’re planning to claim the R&D credit for the tax year 2020, here’s what you should know about the possible impact of the Paycheck Protection Program and Employee Retention Credit.
Over the last two years, we’ve all heard about the Tax Cuts and Jobs Act and the business-friendly measures that came with it. But amid the shiny new perks of tax reform, there’s a tax credit that’s still one of the best ways for businesses—including manufacturers—to reduce their tax liability.
Many businesses are grappling with uncertainty amidst the pandemic. Many are wondering how they can hit pre-pandemic revenue levels and generate cash flow. For some businesses, the research and development (R&D) tax credit could be part of the solution.