Industries Served

 

Research and Development Tax Credit

Companies use the research and development tax credit to claim significant financial benefits to accelerate growth. Originally intended for developers of industry-leading products and technology, the law has been expanded to include a wide range of activities from various industries. The tax credit allows companies to reinvest in their business by offsetting current and future tax liabilities.

 

 

Industries We Serve

Companies of various industries are unaware that they are eligible to claim the R&D tax credit. Under the Internal Revenue Code’s definition of R&D, many common activities qualify. Our specialists have successfully identified and delivered tax benefits for clients in the following industries:

 

Qualifying Activities

Qualified research activities are activities undertaken to resolve technical uncertainties that arise over the course of a project. Examples of qualified research activities include:

  • Estimator performing value engineering by reviewing alternative materials for construction;
  • CAD technician performing CAD modeling to create construction documents;
  • Civil engineer designing retaining wall structures;
  • Superintendent evaluating alternative installation means and methods; and
  • Architect developing planning and elevation drawings

Qualifying Expenditures

Generally, the following three types of expenses incurred within the United States qualify for the R&D tax credit:

  • Wages paid for qualified research activity and the direct support or direct supervision of qualified
    research activity;
  • Supplies used in the conduct of qualified research; and
  • Payments made to contractors for qualified research.