R&D Tax Credits award innovation with the funds to reinvest in your business. Broad definitions of R&D mean many businesses could be within scope to receive R&D Tax Credits and not be aware of this.Contact us
Many businesses are still unaware that R&D credit eligibility extends beyond the stereotype of 'people in white lab coats'. R&D credit can be applied to a plethora of industries, with every case being subjective - there in no 'one-size fits all' when it comes to such a niche area of the tax code.
The R&D Tax Credit, or Research & Experimentation (R&E), under I.R.C. section 41, is a federal benefit, intended to stimulate innovation, provides dollar-for-dollar cash savings for R&D costs, through the use of income tax liability or occasionally payroll tax liability offsets. The credit can improve cashflow, lower payroll costs, and increase competitiveness on an annual basis.
The benefit is typically 7-10 cents of every dollar spent in qualified research expenditures (QREs).
Our consultants have a more detailed dive into your projects, creating the substance of the technical report in the process and ensuring an unparalleled level of compliance.
Alongside your CPA, the RK consultants gather the necessary financial documentation and begin the financial analysis required for the claim.
Your finalised package is submitted to yourself and your CPA - our team remain by your side to answer any questions you might have to complete the process.
After a conversation to understand if you’re eligible for the benefit, we can begin the process with an initial call to gather the information for the technical report.Contact us