Research and Development Tax Incentives for the Electrical Contracting Industry
Many aerospace companies are unaware that the government offers generous research and development (R&D) incentive programs. Other companies are aware of the R&D Tax Credit, but fail to take full advantage due to misconceptions about the types of research and development activities that qualify. The fact is that a broad range of common aerospace industry practices will qualify for the credit under the Internal Revenue Code’s definition of R&D. Research and development is not limited to the work of dedicated scientists. Aerospace industry engineers, technologists, designers, and machinists often spend a substantial portion of their time developing superior designs and manufacturing practices in an effort to remain competitive. This continuous evolution of technologies provides ample opportunities for companies to take advantage of these tax incentive programs.
If your company operates in the aerospace industry, there is a strong chance that you would benefit from an R&D tax credit study. Let alliantgroup’s aerospace experts help you claim the credits that you deserve.
Examples of Electrical Contracting Innovations Eligible for R&D Tax Incentives Include the Following:
- Exploring means, methods and construction techniques development
- Preparing structure and facility design for constructability
- Developing and improving construction equipment development
- Utilizing Building Information Modeling
- Designing LEED/Green Initiatives
- Designing HVAC systems
- Designing electrical systems
- Utilizing BIM modeling for sub-system coordination
- Conducting Request for Information Process (RFI’s)
- Utilizing value engineering
- Conducting voltage drop calculation
- Measuring electrical conduit bending specifications
- Assessing aluminum or copper wire determinations
- Installing electrical insulation
- Performing conduit wire overheating calculations
- Conducting table tray support and configuration
- Performing services design and testing
alliantgroup’s Engineering and Contracting Industry Specialization Team
In order to better serve electrical contracting companies, alliantgroup has developed an Industry Specialization Program that focuses on the qualification and quantification of R&D tax benefits for companies operating in the engineering and contracting industry, in which we include electrical contracting. alliantgroup’s Engineering and Contracting Specialization Group employs several individuals who have educational backgrounds and practical experience within the disciplines of civil engineering, environmental engineering, mechanical engineering, electrical engineering, and contracting. alliantgroup has qualified and quantified credits for firms ranging from small, startup firms to large, multi-national corporations.