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Research & Development Tax Credits

Research & Development (R&D) Tax Credit Solutions

Innovation pays with tax credits

The research and development (R&D) tax credit is one of the most significant domestic tax credits available. Many types of business activities are eligible for the credit.

R&D incentives apply to a broad spectrum of activities. These activities include manufacturing, process improvements, production trails, software development and integration issues. As you can see, the research and development tax credit is applicable to more than just a laboratory environment.

You may have been discouraged from claiming the R&D tax credit because of its complexity. Our knowledgeable professionals are experienced and have generated millions of dollars in tax credits for our clients. PDR will perform a complimentary review of your research and development activities to determine whether they qualify for the credit.

The 4 Main Tax Credit Requirements:

  1. Technological in Nature
  2. New or improved Business Component(s)
  3. Elimination of Uncertainty
  4. Process of Experimentation

The Business Components for Qualification:

  • Development of an innovation
  • Research aimed at learning/applying new knowledge
  • Design, testing, or alteration of product substitutes and/or prototypes
  • Systems, functional, and integration analysis
  • Analysis and advancements to speedily cut a product’s time-to-market

The Strategy Involved:

  • Assessment and Feasibility: An initial study to understand your business and options for capturing tax credits.
  • Design and Implementation: A thorough analysis of the technical issues, performance of a detailed analysis of eligible cost and documentation of expenditures.
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At PDR CPAs, we leverage our 40+ years of industry expertise to help you keep your finances strong and your business moving forward.

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