Your day-to-day operations could provide untapped opportunities to access extra cash and reduce your business’ income tax liability, thanks to research and development (R&D) tax credits.
R&D credits regularly deliver savings to businesses that design, develop, or improve products, processes, techniques, formulas, or software—helping put cash back into the business.
Tax refunds can exceed 10% of annual R&D costs for federal credits and even higher when applying state-level credits. Claiming credits can be a complex process that involves intense IRS scrutiny, so it’s crucial to navigate submissions meticulously.