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!
Today, agriculture and technology work hand-in-hand. In fact, if you’re in agriculture, you’re probably engaged in activities right now than could win you substantial federal and state tax benefits in the form of research and development (R&D) tax credits.
What are R&D tax credits? Their federal and state tax incentives designed to encourage innovation, technical design, and product development and enhancement. They were created by Congress to provide an economic stimulus so the U.S. can remain head of the pack on innovation. If you develop new products, processes, or inventions, R&D tax credits will financially reward you by returning to you a significant percentage of what you invested in qualified research activities and qualified research expenses. Learn more
An important benefit: you can claim the credit for the current tax year and for three prior tax years. As a result, you could receive four years’ benefit the first time you use the R&D credit.
Two vital points:
The IRS requires that your R&D activities meet this four-part test. — See if you qualify
What agricultural research activities qualify for the credit?
1. Developing new or improved:
2. Testing:
Less than one-third of companies eligible for the credit even know it exists, so two-thirds are losing out. Is yours one of them? You can plow your substantial tax savings back into your business, so that you can undertake even more research and win additional R&D tax credits!
Last year, the IRS made its reporting and record-keeping requirements for R&D tax credits much, much stricter and complex. As a result, it’s to your benefit to only rely on a specialized company with both engineering and accounting capabilities that can undertake a full-fledged technical study.
As a licensed engineering firm backed by accountants that focuses on federal, state, and local tax benefits, Engineered Tax Services is an expert at R&D tax credit studies. Over the past 20 years, we’ve saved clients many, many millions of dollars. Contact us today for your free R&D tax credit analysis.
This comprehensive e-book is designed to help you recognize which of your activities qualify for R&D tax credits!
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 …
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