R&D Tax Credit for Architects
Architectural firms often do not realize that they are eligible for the R&D tax credit. This Research tax credit allows companies to realize tax savings, increase cash flow and stay competitive in the marketplace. Many of the qualifying activities are considered day-to-day operations for the construction industry.
The benefits can be significant and are efficient to realize through our services. The R&D tax credit can provide a hidden but immediate source of cash for architectural firms from prior years, plus a significant reduction to current and future years’ federal and state tax liabilities.
To qualify for the R&D Tax Credit, you will need to meet three cost components:
- Expense of direct wages;
- Expense of supplies consumed; and
- Cost of contract research.
Typical Qualifying Research and Development Tax Credit Activities:
- Energy efficiency development
- Developing schematic designs
- Master planning process and design
- Developing elevation drawings for planning
- Developing the construction documents
- Designing of a site plan to accommodate or include site features
- Designing and developing building facades
- LEED certification
- Design of systems in a building
- Designing the shape of a building
- Designing the way a building is situated on the site
Our R&D Tax Credit practice consists of engineers, CPAs, and attorneys who have extensive experience conducting R&D Tax Credit Studies at both the federal and state level. Our process begins with a free assessment to ensure that the company qualifies for the credit and would be able to utilize them. Each of our studies includes a site visit to help facilitate the study process. We also include audit support with all of our studies. This is a conservative federal and state incentive that was just made permanent by Congress as part of the 2015 PATH Act. Contact ETS for more information at 800-236-6519 or email here.