R&D Tax Credit Case Study for Software Developer in Illinois

1 Year Tax Savings: $342,087 (Federal Only)

Claiming the R&D tax credit saved this software developer in Illinois $342,087 on their federal taxes. Engineered Tax Services assisted them in uncovering $5,482,954 of total qualified research expenditures, most of which was spent on wages and contract research.

Study Highlights
Wages $4,311,556
Supplies $0
Rental or lease of computers $21,909
Contract Research $1,149,489
Total Qualified Research Expenditures $5,482,954