Research and development tax credits are for a variety of industries. We have worked with over 100 businesses in a variety of industries ranging from automotive processes to software development. Check out some of the industries we are able to secure research and development tax credits for:
Tool and Die
If you work in the Tool and Die industry, the chances are very good that you and your company are working on projects that qualify for the federal Research Credit and possibly for state credits as well.
Software Development is a hot business for innovation, invention, and creation; three of the characteristics that the federal government and many state governments are aiming to encourage by offering tax credits. They understand that countries thrive on invention, even if the product or process being created isn’t considered “groundbreaking” in their industry.
Many small and mid-sized businesses in the Medical Instrument industry don’t realize that their efforts to generate new and improved products can be eligible for the Research and Development (R&D) Tax Credit. The R&D Tax Credit is awarded to businesses who attempt to create innovative improvements for new and old products, conduct research, and experiment to grow and expand on current technologies.
Whether your company produces machine tools meant for metal cutting, metal forming, or some other application, chances are that some of your endeavors could qualify your business for significant tax credits. The Research and Development Tax Credit (R&D) was created by the government to encourage innovation through offering tax credits for research, experimentation, invention, and product or process streamlining.
Small and mid-sized companies that manufacture injection molds often don’t realize that their particular line of business is filled with opportunities for money-saving tax credits. In particular, the Research and Development (R&D) Tax Credit champions any business whose endeavors include research, experimentation, streamlining, and invention.
Trying to find ways to save on your taxes and reduce your federal and state liability? The R&D Tax Credit is designed to give back to companies who favor creation, invention and experimentation. The automotive industry, in particular, is in a good position to reap the benefits from this credit.
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