R&D Tax Credit Assessment
Does your company qualify for Research & Development (R&D) Tax Credits? The federal government and more than 70 percent of the states offer R&D tax credits, yet every year businesses across the nation leave money on the table because they are unaware of these benefits. Research and Development (R&D) Tax Credits can offset the cost of innovation or help you add more profit to your bottom line.
If your business engages in activities that meet the following criteria you could qualify for a federal tax credits. These credits can be applied to taxes owed or previously paid.
- Do you engage in activities intended to improve product or process function, performance, reliability or quality?
- Are these activities based on hard sciences such as engineering, computer sciences? (Soft sciences such as marketing do not apply)
- Is there some level of uncertainty of “how” or “if “ the product or process can be improved.
- Does your project team go through a structured iterative process of development or experimentation to solve the problem? (This process does not need to result in a successful solution to the problem.)
If your company engages in activities that fit this criteria take this assessment to get idea of the specific state and federal credits you could qualify for and an estimate of how much money you could be saving.
Once you have completed the assessment a CEO Tools-designated R&D Tax specialists will contact you within 3-5 business days to schedule a consultation call to review your R&D report.
What you will need:
- About one hour to complete the assessment
- Profit and Loss statements from your last four years of operation
- Supporting documentation that you feel may clarify potential R&D activities
What you will get:
- A custom R&D Tax Credit report with estimated credit value
- A consulting call with an R&D Tax specialist to discuss your report