Are You Leveraging the R&D Tax Credit? Don’t Leave Money on the Table!
Did you know that businesses exhibiting innovative practices may be eligible to receive congressionally mandated incentives under the R&D Tax Credit? Many large companies routinely receive these credits, but according to the Wall Street Journal only 5% of small and medium sized businesses claim these tax credits and incentives even though they are fully entitled to them. Most business owners and CEO’s don’t pursue these benefits because they are unaware of these programs.
Since 1981, Congress has extended and expanded the R&D Tax Credit to help companies compete and to reward them for hiring on U.S. soil. The program is arguably one of the most important incentives our government has created to support American business.
Business Group Resources (BGR) specializes in recovering state & federal rebates, refunds and credits that are available to small and medium sized businesses.
These are not loans, handouts, or stimulus checks. BGR helps business owners get money back from state and federal governments that they were entitled to but didn’t receive. BGR works on contingency and can conduct a no cost analysis to see what a business will qualify for. If there is no recovery, there is no fee.
If you are trying to grow your business, expand, manufacture, improve an existing product or make yourself more competitive, it’s likely you qualify for the R&D Tax Credit.
Benefits if you qualify:
- Discover a hidden and immediate source of cash for your business
- Create a potential reduction to current and future years of Federal & State tax liabilities
- Improve your competitiveness
If you payed taxes and are involved in any of the following activities, you may be eligible for a refund under the R&D Tax Credit:
- Developing an innovative product that is new to the market
- Engineering and designing a new product
- Conducting research aimed at discovering new knowledge
- Searching for ways to apply new research findings
- Designing product alternatives
- Evaluating product alternatives
- Introducing significant modifications to the concept or design of a product
- Designing, constructing, and testing preproduction prototypes and models
- Engineering activity to advance the product’s design to the point of manufacture
- Utilizing systems processing modeling
- Conducting system and functional requirements analysis
- Utilizing integration analysis
- Experimenting with new technologies
- Experimenting with new material and integrating the material to improve manufactured products
- Engineering to evaluate new or improved specification/modifications in terms of performance, reliability, quality, and durability
- Developing new production processes during prototyping and preproduction phases
- Conducting research aimed to significantly cut a product’s time-to-market
- Conducting research aimed to obtain more efficient designs
- Developing and modifying research methods, formulations or products
- Paying outside consultants or contractors to do any of the above activities
Previous recoveries for BGR business owner clients that are also Cal Poly Alumni!
Fabricator S Corp – Oxnard CA Manufacturer S Corp – Simi Valley CA
19 Employees 24 Employees
In the last 16 years, BGR has helped over 7,000 businesses get back the money they deserve. Contact them today to learn more about the R&D Tax Credit and what your tax savings could be!
Set up a free 10-minute call with your BGR representative to see if your business qualifies – set it up here