Today’s job shops may not realize that their activities may entitle them to generous research and development (R&D) tax incentives, and even if they do, the traditional notions of R&D may cause them to limit qualified research expenditures to activities associated with invention or new product development. Many job shops, however, conduct extensive activities to design and develop the manufacturing processes themselves to achieve specific project requirements or to stay ahead of competitors in the marketplace. All these activities may require time and money both in the engineering department and on the production floor itself, which may be captured as qualified research expenditures leading to significant tax benefits. If you think you have to be a large, public corporation developing products and inventions to be conducting qualified activities as defined by the Internal Revenue Code, think again.
If your company has recently introduced new or improved products or processes, there is a strong chance that you could benefit from an R&D Tax Credit study. Let alliantgroup’s job shop experts help you claim the credits that you deserve!