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One of the most lucrative tax benefits for companies who are performing and undertaking innovative approaches to their products or services are research and development tax credits. Now more than ever, companies in a wide range of industries can qualify for these dollar-for-dollar tax perks if they are performing activities that are advancing their industry.   With continual growth in

With 2020 tax refunds wrapping up for the year, many Americans have still not received their returns. In fact, many families are still waiting on 2019 returns that have been backlogged by the Internal Revenue Service.   The IRS announced that they still have about 335,000 tax returns that have not been issued from the 2019 tax year. According to

  The state of Kansas is a major hub for the agricultural, manufacturing, aviation, and energy and natural resources industries. All of these industries are continuously needing to expand, conduct research and develop new products to keep up with industry demands making Kansas an ideal state for research and development tax credits.   Many businesses in Kansas may not know

The pet industry has experienced recent growth due to the increase in pet adoption rates during last year’s lockdown. With more time to invest in care for pets while working from home and staying indoors, many people have turned to the support of these four-legged companions. Shelters have reported massive decreases in available animals and occupancy levels which has brought

The web and software development industry has been experiencing a dramatic increase in demand as more companies are realizing that the market is shifting to online resources and services. Although the pandemic was one of the catalysts behind this shift, companies are quickly realizing that online services are becoming standard integrations they need to provide in order to keep up

The fitness industry has seen a substantial increase in the demand for at-home workout equipment and classes since the start of the pandemic. Many fitness companies have had to pivot to account for this demand and perform research and development in order to provide consumers with the products they need.   With many gyms and studios shutting down during the

The demand for the development and production of both medical and recreational cannabis has increased across the United States since the legalization of cannabis passed in certain states. With this demand comes the need to perform research and development to quality products that the market is trending toward. What many cannabis companies may not know is that they are potentially

Companies in the biotech industry are continuously performing research and developing products to advance the production and processes of pharmaceuticals, biotechnology, medical devices, and other life sciences, making them the ideal candidates for R&D tax credits. In fact, because most biotech companies are moving away from focusing their efforts on one or two drugs at a time and are now

The Internal Revenue Service has been experiencing delays with the delivery of refunds to taxpayers. Due to the pandemic and additional stresses on the IRS, around 24 million taxpayers have not received their refunds. Businesses looking for significant savings and tax breaks should take this opportunity to get ahead on their returns and make sure they are getting all the

For many business owners in Arizona, keeping up with industry advancements and shifts requires a good amount of investment in research and development. Time, resources and wages spent on these projects can be costly and many companies don’t know that both the state and federal government rewards businesses who make these efforts. If you own a business in Arizona you