R&D Tax Credit
The R&D tax credit is available to companies developing new or improved business components, including products, processes, computer software, techniques, formulas or inventions, that result in new or improved functionality, performance, reliability, or quality. It’s available at both federal and state levels.
R&D Tax Credits Made Simple
How Could Your Company Benefit from the R&D Tax Credit? Our unique partnership with LEAF Speciality Tax Consultants will help you navigate the tax planning process and implement one of the most powerful tax savings strategies available for your business.
It’s a dollar-for-dollar tax savings that directly reduces a company’s tax liability. There’s no limitation on the amount of expenses and credit that can be claimed each year. If the federal R&D credit can’t be used immediately or completely, then any unused credit can be carried back one year or carried forward for up to 20 years.
The R&D tax credit regularly provides a wide range of businesses with a source of extra cash—up to 10% of annual R&D costs for federal purposes and much more when state credits are factored in.
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Does your company know if it’s eligible for the R&D Tax Credit?