As a company, it helps to continue with research and development (R&D) to come up with new and improved products and processes – which translate into tax credits. But that doesn’t mean you have to be a scientist in a laboratory mixing chemicals or splitting an atom.
Don’t be one of those businesses that ignore R&D tax credits because you think you won’t qualify, or you fear an IRS audit because of your involvement. Let CSG Strategic Tax Consultants (CSG) help you eliminate these fears and generate significant cash flow through this very rewarding tax incentive.
Billions of dollars are available to U.S. companies that are involved with creating new or improved products, processes, formulations, inventions, software, and designs. CSG’s Research and Development Team understands this complex process and has the expertise to provide businesses with significant tax savings by quantifying and qualifying your research expenses and activities.
The R&D tax credit is a federal and state incentive designed to stimulate research and development activities within U.S. companies. The credit has undergone several changes since its inception in 1981 and is available to companies in many industries. Some of the industries that may qualify for the credit are:
CSG has helped myriad companies in a wide variety of industries obtain millions of dollars in R&D tax credits. Our dedicated team of CPAs and engineers will assist your organization with obtaining these credits by quantifying and qualifying the following:
Test 1: Permitted Purpose – The activity must relate to new or improved business components in one or more of the following:
Test 2: Technological in Nature – The activity performed must fundamentally rely on the principles of one or more of the following:
Test 3: Elimination of Uncertainty – The activity must be intended to discover information to eliminate uncertainty concerning the capability or method for developing or improving a product or process, or the appropriateness of the product design
Test 4: Process of Experimentation – Substantially all the activities must be elements of a process of experimentation involving:
Don’t let valuable tax credits go to waste…contact us now to claim yours!