Research and Development (R&D) tax credit is a government incentive designed to reward U.S. companies for investing in innovation. They are a valuable source of cash for businesses to invest in their Research and Development activities, hiring new staff and ultimately promoting growth.

Good news is that the R&D tax credit is applicable for businesses of all sizes and you can apply for the year 2022 and go back to apply for prior 2 years’ if you are eligible.

Companies that spend money developing new products, processes, or services, or enhancing existing ones, are eligible for R&D tax relief. If you’re spending money on your innovation, you can make an R&D tax credit claim to receive either a refund check or a corporate tax reduction. The scope for identifying R&D is huge – as it exists in every single sector.

Many businesses are still unaware that R&D credit eligibility extends beyond product development to include activities and even operations such as the latest manufacturing methods, software development, and quality improvements. Even start-ups may be able to utilize the R&D tax credit against their payroll tax for up to 5 years.

At Credits & Loan, team of professionals including CPAs, we make sure that you get the maximum credit allowed for. We have helped process more than half billion dollars of various grants and tax credits for small and mid-size businesses.
 

R&D tax credit services involve assisting companies in claiming tax incentives for their research and development activities. These services typically help businesses identify eligible R&D expenditures and guide them through the process of filing for tax credits or deductions. Companies often rely on specialized firms or consultants to navigate the complexities of these programs and maximize their benefits. Is there something specific you would like to know about R&D tax credit services?

                                       Click Here to Get in Touch