The federal R&D tax credit provides incentives for US-based companies conducting research, development, and innovation. These are aimed at encouraging and stimulating investment in industries of all sizes. About 40 states have their own state-specific R&D tax credit initiatives.
Benefits of a BRS R&D Tax Credit Study:
BRS will quantify the credit you are eligible for and supply all
necessary documentation. Federal and state tax credits can
amount to as much as 20% of costs incurred in developing
or improving products and/or manufacturing processes. It’s
important to know that:
- You can go back 3 years to claim past credits. If you paid income taxes in the past, you can receive these credits as a cash refund.
- You can carry forward credits for up to 20 years.
- Typical return on investment is 5-10 times the cost of our study.
- Our study takes little time on your part: 3-5 hours from finance/accounting team, and 3-5 hours from your technical/engineering team. We do all the rest.
- For small qualified businesses (startups), the credits can be used to offset payroll taxes. Ask us how this works.
Eligible industries include, but are not limited to:
- Manufacturing (almost any sector)
- Engineering (mechanical, electrical, civil)
- Agriculture (field, greenhouse, irrigation)
- Food & Beverage processors
- Contract Manufacturers
- Biotech, Pharmaceutical & Med Device
- Life Science
- Software Developers
- Companies with eCommerce sites
- Technology companies
- Web or Cloud based businesses
Let the highly experienced team at Business Resource Services help your business today.
Professionals you can rely on
Dave Fleischer leads the R&D Tax Credit team at BRS. He works with small to mid-size businesses to determine how they can qualify and receive hundreds of thousands of dollars in R&D tax credits. Dave has a proven track record of helping companies take advantage of IRS regulations that significantly reduce current and future Federal and State tax liabilities. He is committed to providing exceptional service and expertise to his clients.