Let's get started by talking to one of our R&D Tax Credit experts to see how much we can gain you by getting a FREE Tax Credit analysis today!
Let's get started by talking to one of our R&D Tax Credit experts to see how much we can gain you by getting a FREE R&D Tax Credit analysis today!
The R&D tax credit is an incentive to stimulate innovation and technical design. It provides companies with significant incentives for developing new products, processes, or inventions, which they can use as reimbursement for qualified research activities completed within the United States; this means that American businesses will always be at the forefront of cutting-edge technology!
Learn About the History of the R&D Tax Credit
The tax incentive is an excellent way for companies to save money and stay competitive in the marketplace. Activities that would otherwise be considered “day-to-day operations,” such as designing new products or analyzing market trends, are eligible under this credit!
Companies of all sizes and in many different industries can now qualify for the tax credit, including:
Start-up companies are not excluded – companies with less than $5 million of gross receipts for the year, and no gross receipts more than five years ago – can apply to use R&D credits to reduce a portion of their federal payroll taxes going forward, specifically the employer’s Social Security portion of FICA taxes (6.2% of wages up to $127,200 per employee in 2017).
Recent tax changes also enable private companies with $50 million or less in gross receipts (prior three-year average) to use R&D credits to reduce alternative minimum tax (AMT).
R&D credits can be ideal for startups—particularly those of a technical nature, such as in the fields of computer science or pharmaceuticals. The credits can deliver a financial windfall to qualifying taxpayers, but the unique circumstances of startups entail challenges. As a result, it’s wise to engage a seasoned tax and engineering specialty firm. – Learn More
To determine if you qualify for the research and development credits under the IRS, you will need to find out if your activities meet the four-part test.
If possible, have your study completed well in advance of your April 15 or October 15 tax filing deadline.
But what happens when tax deadlines have come and gone, and your business failed to claim the R&D tax credit? No worries – you can still file your claim for the credit with an amended return.
You can capture your tax credit for the current tax year and for the prior three open tax years.
If you have performed qualifying activities in the past, this could be a substantial credit for your business. You can also submit tax credits for project that didn’t succeed—not just the ones that worked out.
What to expect when working with Engineered Tax Services.
We will help you gather all your documentation. This includes receipts, invoices, contracts, and other records of qualified activities.
If you are eligible for the tax credit, we'll help you file all the necessary forms to recieve the tax credit.
Finally, we'll help you file your claim so you can get the money you are entitled to.
This comprehensive e-book is designed to help you recognize which of your activities qualify for R&D tax credits!
How can R&D tax credits propel your business to the next level of success? This comprehensive white paper explains how your company can be rewarded for innovation via a substantial tax break, but one that less than one-third of companies entitled to the credit know they’re eligible. With special chapters on R&D tax credits for startups and for software and gaming. Download a Free Copy today!
1 Year Tax Savings: $18,078 (Federal Only) Study Highlights Wages $525,358 Supplies $26,953 Rental or lease of computers 27.5-Year Contract Research $11,760 Total Qualified …
1 Year Tax Savings: $18,078 (Federal Only) Study Highlights Wages $358,407 Supplies $26,953 Rental or lease of computers 27.5-Year Contract Research $14,227 Total Qualified Research …
1 Year Tax Savings: $72,430 (Federal Only) Study Highlights Wages $1,342,919 Supplies $0 Rental or lease of computers $0 Contract Research $0 Total Qualified Research …
U.S. Rep. Jackie Walorski (R-Ind.), a senior member of the House Ways and Means Committee, showed herself to be possibly the biggest champion of R&D tax …
As the CFO of a mid-sized mechanical engineering firm just outside of San Antonio, Texas, I’m always on the lookout for ways to boost our …
As the owner of an engineering firm in Salt Lake City, Utah, I’ve been concerned about the recent downturn in the economy—like a lot of …
Toll-Free: 1-800-236-6519
info@engineeredtaxservices.com
303 Evernia Street #300
West Palm Beach, FL 33401
© 2022 Engineered Tax Services, Inc | Privacy Policy | Additional Offices in Principle Cities Nationally