Tax Credits
Have you ever considered increasing your company’s profitability by reducing your tax liability? Is it possible for your company to get more federal and state government research and experimentation tax credits, as well as research and development tax credits?
Government sponsored initiatives have made it possible for companies to reap rewards for their initiative for investing in innovation and improvements. Over $5 Billion in R&E Tax Credit benefits are disbursed annually. However, approximately 80% of the disbursed funds are procured by only a few of the largest United States companies. Should you take their lead and find out what they are doing?
Your company may be eligible for tax credits because of tax initiatives.
Benefits of Taking Advantage of Tax Credits:
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Immediate source of substantial cash back from the IRS
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Lower your company’s overall effective tax rate
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Ongoing permanent tax savings and financial statement benefits
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Increased market value, cash flows and earnings leverage
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Cumulative benefits - your business can take these credit for all open tax years - generally the last three (3) or four (4) years plus the current year;
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Tax credits may carry forward twenty (20) years
What costs could qualify your company for these tax credits? Some activities that qualify for R&E Tax Credits are:
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Product design, engineering and manufacturing
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New, improved products, formulas, processes and systems
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In-house software development (includes outsourced software development)
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Develop, implement or upgrade hardware and/or software systems
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Development, testing and application for patents or certifications
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Development/testing of new technology, new prototypes, new materials
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Quality assurance development and engineering
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Design and engineering of new tools, molds, jigs, dies
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Development of improved production or manufacturing process
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Improvements on production/manufacturing facilities
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Automation or streamlining internal operations and processes
R&E tax credit rules are complex. Acquiring these tax credits requires expert knowledge and keeping current on these ever-changing laws. Our experts do an authoritative R&E study to obtain a thorough documentation and understanding of your business and determine the maximum estimated tax credit for which your company is entitled. Our experts work on a contingent fee basis; thus this study is done at NO cost to you unless they identify a credit opportunity and/or secure a refund for a previous credit on your behalf. If there are no credits identified, there are no fees incurred. Do you want to find out if your company qualified for a tax credit?
PROBLEM: You Want To Decrease Your Costs and Put More Money Toward Your Bottom Line!
SOLUTION: Let Us Help You Today!
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