The Research and Development Tax Credit (R&D Credit) is one of the most significant tax incentives available to tax payers. It is also a program most companies are unaware is available to reward their day-to- day activities that produce or improve a product, process, technology or system.

 

Almost all industries, with new changes to the program, qualify for the R&D credit. The R&D Credit is a government-sponsored benefit that provides cash incentives for companies conducting R&D in the U.S.

EIAG’s R&D Tax Credit Practice Group will help you determine if you qualify— at no cost. Once it is determined a company is eligible; EIAG will (1.) interview personnel involved in R&D, (2.) develop written memorandums of qualified activity, (3.) report development and (4.) the final delivery report, which provides the supporting documentation to claim the credit.

*Congress has made the R&D Tax Credit permanent. Additionally, the two following changes are substantial: (1.) Qualified businesses can claim the R&D Tax Credit and apply it towards payroll taxes (essentially making it refundable.) If you qualify, you will lower your 2017 labor costs significantly. (2.) The credit can be applied against a business’s AMT.

 

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