What Qualifies Businesses
for the R&D Tax Credit?
Many businesses are still unaware they qualify for this credit. A wide range of industries, such as software development, manufacturing, engineering, crop and animal production, food processing, construction, and more, qualify for the R&D Credit.
Eligibility for the R&D Credit extends beyond product development to include activities such as the latest manufacturing methods, software development, and quality improvements.
So, if your company does any of the following, your business likely qualifies for this credit:
- Develops or design new products or processes;
- Enhances existing products or processes; or
- Improves upon existing prototypes and software.
We’ll discuss your eligibility and help estimate your potential tax benefit.
Importance of
R&D Tax Credit
The R&D Tax Credit was introduced in 1981 to increase technical jobs in America by encouraging businesses to invest in innovation. It is now the most significant permanent tax credit available. As the competition within the American marketplace continues to intensify, companies need to utilize every resource they can. This credit intends to support innovative industries so they can reallocate funds back into their businesses to help with the following:
- Retaining and attracting more technical talent;
- Growth strategy; and
- Remaining competitive.
R&D Tax Credit 5 Myths and Misunderstandings
Unfortunately, only one out of twenty small and medium-sized companies eligible for this credit take advantage of it. Here are some of the myths that hold them back:
- The tax credit is only for companies that invent something new.
- This benefit is for businesses with research labs.
- The credit won’t help me with my state taxes or bottom line!
- It’s too good to be true!
- There will be tax reform, and the R&D credit will go away.
Success Stories from Our Clients
App Development Company
ANNUAL REVENUE:
$3 Million
TOTAL CREDITS EARNED:
$375,000
Food Processing Company
ANNUAL REVENUE:
$25.5 Million
TOTAL CREDITS EARNED:
$245,000
Oil and Gas Field Exploration Company
ANNUAL REVENUE:
$7.6 Million
TOTAL CREDITS EARNED:
$102,000
Why alliantgroup?
We are the leading experts in tax credits and incentives. Since 2002, we have helped US businesses grow their operations and stay ahead of the competition. To date, we have delivered billions in refunds to over 27,000 businesses.
800+ Industry Experts
Our professionals know your business inside and out and know what qualifies to ensure the most lucrative refund. No other firm offers professionals versed in your industry.
Four Former IRS and Division Commissioners
Our former commissioners are the preeminent experts on IRS policy and ensure our practices and procedures align with the service’s expectations. No other firm offers this level
of oversight.
Former Legislators
Our former policymakers understand the intent of tax law and why they apply to your business. As part of our team, they advocate for our clients and help them take advantage of federal funds. No other firm understands tax law to this extent.
Why Businesses Choose alliantgroup
Hear from a client how alliantgroup helped increase his bottom line.
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Schedule a free consultation with our team of experts.
We’ll discuss your eligibility and help estimate your potential
tax benefit.
