Reaping The Benefits
An incentive for more companies than you thought.
The Research and Development Tax Credit was created as an incentive for companies to be creative while performing research activities to develop or improve their products, processes, or software. We are thrilled to now offer startups assistance with capitalizing on R&D Tax credits by offsetting it against their payroll taxes.
What This Means
Don’t get shutout anymore.
Startup companies have been shutout in the past from claiming R&D simply because they lacked tax income liabilities. These blossoming companies are now able to take advantage of this money-saving credit due to a 2015 provision, which broadened the scope of industries that are able to benefit.
If your startup is making less than $5 Million in annual gross and performing qualifying research, we can work with you to offset as much as $250,000 on your payroll tax liabilities to compensate your business for the money spent performing the research.
Saving Money with R&D
We understand the importance of saving money, especially in the first few years of owning a new company. A common concern for startups is how they can quantify spending money on developing or improving their product, before they even start generating a profit. That’s where we step in to reclaim costs spent on Research and Development.
We offer our assistance before, during, and after the qualifying research activities are completed. We will complete a full assessment to ensure that you have the proper documentation, and have taken all necessary steps to pass the R&D 4-Part test.
What is the 4-part Test?
A simple solution to a complicated problem.
The 4-Part test, created by the IRS, takes an extensive look at your research and development processes. The 4-part test is the main qualifier for any company to benefit from the R&D Tax Credit. For an in depth analysis of the 4-part test and it’s qualifications, you can read our article.