Why haven’t I heard of this?
Many companies were not eligible to receive a current benefit until the PATH act was passed in 2015. And once passed, not a lot of companies heard about it. Even companies that did know about it failed to pursue it, due to complexity and time constraints. We offer a solution that makes it easier and less time consuming.Back to TopThis sounds too good to be true. Is it?
No! The R&D tax credit was created by the U.S. government to give funds back to companies who spend money on technology-based innovation. Fortune 500 companies have been taking advantage of the R&D tax credit for decades, and now with recent changes, more small to medium size businesses are claiming the credit. But even with the increase in claims, only 5% of companies that qualify for the R&D tax credit are taking the time to do so.Back to TopWhat’s the process like?
It takes a fraction of the time to pursue the R&D tax credit compared to traditional R&D studies.
Back to TopDoes my company need to be in a specific industry?
No. Companies in any industry can qualify.Back to TopDo I receive money once or every year?
You receive money every year you are eligible.Back to TopIs this the same thing as the GAAP accounting for R&D?
No. The purpose of GAAP is to make sure financial reporting is consistent and transparent. The R&D tax credit rewards companies for innovation.Back to TopHow do I know if my company does R&D?
If your company has wage or other expenses related to the development of new or improved products, you may have qualifying R&D activities.Back to TopI don’t think my company can qualify.
With the changes throughout the years to the qualification rules, more companies than ever before can now take advantage of the credit.Back to TopI have a CPA, why haven’t I heard of this?
Even though the credit has been around since 1981, the credit has evolved over the years, with many companies not being able to take advantage of the tax incentive until the changes in 2015.
Many CPA’s do not specialize in the R&D tax credit. There are over five million words in the tax codes.Back to Top