R&D Tax Credit for Electrical Contractors
Electrical contractors often do not realize that they are eligible for the Research & Development Tax Credit. The R&D 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 that are standard for electrical contractors working in construction industries.
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 construction firms from prior years, plus a significant reduction to current and future years’ federal and state tax liabilities.
Typical Qualifying R&D Tax Credit Activities:
- Electrical system design
- Structure and facility design for constructability
- Procedures, means, and construction process development
- BIM Modeling – Designing a building collaboratively with one system of computer models
- System detailing for constructability
- Value engineering
- RFI’s – Request for Information Process
- Electrical installation means and methods
- LEED or Energy Efficient Designs
- Electrical insulation
- Electrical conduit bending specifications
- Copper or Aluminum wire determinations
- Construction equipment development and improvement
- Temporary services design and testing
- Cable tray support and configuration
- Calculating conduit wire overheating
Our Research and Development Tax Credit practice consists of engineers, Certified Public Accountants (CPAs), and attorneys who have extensive experience conducting Research 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.