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R&D Tax Credits

Getting all you can from your R&D activities

Regardless of the size of your business, you are probably constantly looking for new ways to improve your existing processes and products, as well as develop new ones. Federal lawmakers have once again endorsed your efforts through the extension of the research tax credit through 2013.

Without question, the innovations that you and other businesses produce are the key to improving economic conditions. Our question to you — are you getting the R&D tax credits you deserve?

R&D tax credits have historically been used by manufacturing companies, making everything from medical devices to plastic moldings. But evolution in both tax law and business practices has opened an opportunity for R&D tax credits to more companies such as architectural and engineering firms, contractors, and software developers. 

Uncover opportunities for R&D tax credits in your operation

From the development of new technology, to the addition of new equipment, new materials, facility improvements or expansions, performing environmental testing, and/or streamlining internal processes, R&D tax credit opportunities exist throughout your operation. The experts at Plante Moran will help you uncover these unique opportunities to ensure that you are taking full advantage of all of the R&D tax credits that are available to you. 

Why hasn’t your existing business advisor suggested R&D credits?

The process of identifying the opportunity for federal R&D tax credits and substantiating the claim is complicated. You can depend on our documentation-based approach to R&D. “The taxpayer bears the burden of proving its qualifications for the research credit,” according to the IRS. We will make sure you have the documents to prove you have engaged in “qualified research.” We will also help you determine if you qualify for state and global incentives, depending on where the activities were performed. 

You will benefit from our tax expertise and knowledge

We have a proven track record of helping clients take advantage of R&D tax credits. We are particularly suited to help you find and maximize your research & development tax credits because of our expansive industry knowledge and our understanding of how the tax laws affect your industry.

In addition to helping you reduce your current year effective tax rate, we can also help you uncover cash refunds from previously filed income tax returns. That means the IRS sends you back cash — often lots of it.

Currently, there is a large discrepancy in the way research and development tax credits are being dispersed. Big business is netting more than 90 percent of all R&D tax credit dollars, even though small and mid-size businesses represent 98 percent of the nation’s businesses.

If you think your company may qualify for R&D tax credits that you are not taking advantage of, call us today for a complimentary evaluation of your research and development potential.