Research & Development Tax Credits
Did you know research and development (R&D) tax credit programs exist that may reward your day-to-day efforts of producing an improved product?
Claim Tax Credits You Deserve
Companies that design, develop, or improve products, processes, techniques, formulas, inventions, or software may be eligible for federal and state R&D tax credits. Meaden & Moore can help.
The R&D tax credit is for businesses of all sizes, not just major corporations with research labs, and many companies are surprised that they qualify.
Under recently developed government regulations, more industries qualify than in the past. You may file amended tax returns to obtain refunds of previously paid income taxes, and in some cases, may be able to recapture taxes paid up to four years ago.
Reward Your Improvement Efforts
Companies can benefit from both deducting the research expenditures and by claiming the credit. While the research expenditures are a reduction of taxable income, the R&D tax credit is a general business credit and a dollar-for-dollar reduction of tax.
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