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:
- 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.
- 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.