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Missed the R&D Tax Credit?

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  • R&D Tax Incentives Missed the R&D Tax Credit?

    • Missed the R&D Tax Credit?

    So you may have forgotten to take the R&D credit on the last tax return you filed for your company or your client.

    Not a problem!

    Federal and State R&D Tax credits can be taken on amended returns. As a matter of fact, your company may be entitled to go back for up to FOUR years to take the Federal and State credits.

    Of course the longer you wait, the fewer years you will be able to amend.

    If you’re not sure if your company or accountant claimed the credit it’s easy to look for.

    Although an R&D Tax Credit study is needed to support your calculations, simply look for Form 6765 on your current company’s tax return. If it’s missing, you probably missed the credit.

    So Stop Procrastinating and Get Your R&D Tax Credits Claimed TODAY!
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      Why Do Companies Overlook the R&D Tax Credit?

      Manufacturers, software companies, architects and engineers, and jewelry design companies are the most common industries to overlook tax credits.

      There are Two Main Reasons That The Credits are Overlooked:

      1. Companies don’t understand that their activities qualify. For example, many companies such as manufacturers and software companies qualify as well as architects! Let an expert analyze your business activities to see if they qualify.
      2. Companies think they can’t use the credit because they are currently not a taxpayer. In 2017 the R&D tax credit program was expanded to allow start-up companies that are not paying Federal income tax to apply for the credit against their payroll taxes and get an immediate cash benefit. You may qualify as a start-up company.

      If you think your company may qualify and you want to learn more about the R&D Tax Credit program, download our “Practical Guide to Identifying, Gathering, and Documenting a Sustainable Research Tax Credit Claim”.

      Peter Scalise has over 25 years of experience and shares his strategies and techniques that have resulted in a 98% APPROVAL rating on over $200M in tax credit studies.

      CPAs

      Did you miss the opportunity to take the R&D credits on your client’s last return?

      Don’t worry we got you covered. Although the predicament with your client may be initially uncomfortable, in the long run bringing these value-based saving opportunities to your client will only strengthen your relationship.

      As a matter of fact, we have helped so many CPAs work through this dilemma that we wrote a “How – and Why – to Introduce Clients to Specialty Accounting and Tax Services”.

       

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