The Research and Development Tax Credit is an IRS approved credit for business owners who engage in research based activities as a part of their business. This credit is qualification based meaning you need to meet IRS criteria to claim it. Crowne Tax and Accounting can help your business determine if this tax strategy applies to your business. Depending on your qualifications, you may receive a credit between $8,000 and $50,000.Â
The credit includes all research-based activities and the expenses your business incurs to develop new and improved technology or systems. It can be applied across many industries and trades. The qualification is dependent on your business entity and your research and development activities. Call Crowne Tax and Accounting today for a FREE CONSULTATION!
The IRS lists 4 areas to consider if your business entity meets their requirements. Crowne Tax and Accounting can provide a free consultation to evaluate if your business meets the IRS criteria for the Research and Development Tax Credit. The four areas the IRS will look at are:
Qualified purpose
Elimination of uncertainty.
Process of experimentation.
Technological in nature.
Crowne Tax and Accounting offers a FREE CONSULTATION to explain what these 4 criteria mean and how they apply to your business. If you are interested in finding out if you qualify for the Research & Development Tax Credit fill out the contact form above. A qualified Crowne Tax and Accounting team member will contact you to schedule an appointment.
Is your business creating a new or improved product, process, or technique? Over 65 industries are eligible to claim R&D Tax Credits. Apply now for a complimentary consultation to learn more about how R&D credits might apply to your business.
Crowne Tax & Accounting has a combined 40 years of Tax, Accounting, Payroll, Business Entity, and Investment Banking Experience. We have helped over 15,000 clients to reduce their tax liability, and save our clients hundreds of thousands of dollars. See if we can help you with your Tax needs Today!
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