Today’s tool and die makers may not realize that their activities could make them excellent candidates for 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 tool and die operations, however, conduct extensive activities to design and develop the machining equipment and processes 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 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 tool and die experts help you claim the credits that you deserve!