Businesses who invest in new products or processes, or making improvements to existing products and processes, can benefit from the Research and Development (R&D) tax credit.
The R&D tax incentive has been permanently extended and funding from the credit can potentially be retroactively applied.
Criteria for the R&D Tax Credit
The R&D tax credit incentivizes businesses who undertake specific types of research and development related activities, including:
R&D Tax Credit Four-Part Test
In order to qualify for the R&D tax credit, activities must meet the requirements of a four-part test.
Partner with Eide Bailly to Maximize Your Tax Savings
The potential to utilize the research and development tax incentive is immense. The confusion surrounding whether your activities qualify prevents many from claiming it. Working closely with a trusted advisor who specializes in the R&D tax credit will help streamline the process and increase your cash flow.
Eide Bailly’s R&D tax team spends time to understand your organization’s unique situation and how you can maximize the full potential of the R&D tax incentives. Our team brings thorough knowledge of tax laws and regulations and strives to help our clients qualify and claim the R&D tax credit.
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Partner with a trusted firm to help you benefit from the R&D Tax Credit.