R&D Tax Credit

R&D - Develop and apply for patentsAdvise LLP provides R&D federal and state tax credit services. These credits are incentives to improve innovation and encourage risk-taking for companies that do business in the United States.

In general, a 13% return on investment can be obtained for qualified R&D expenditures. This means that a company that spends $100,000 in any given year on qualified R&D expenses, can capture $13,000 of R&D tax credits to reduce its taxes. In most cases, Advise LLP can help determine uncaptured qualified R&D expenditures. R&D tax credits are a dollar for dollar benefit and can instantly reduce federal and state taxes and improve cash flow. Credits are open for a span of three to four years, and amended tax returns may be filed to claim credits not previously determined.

Advise LLP helps provide services to review and determine qualified R&D expenditures, perform the federal and state credit calculation using the most appropriate method, and develop R&D accounting and documentation. We document the credits and have defended the credits with the appropriate taxing authorities.

You may already qualify for R&D credits.

R&D activities can include the following:R&D - Improve new manufacturing facilities

  • Develop prototypes
  • Improve processes, techniques, formulas
  • Design tools, jigs, molds, & dies
  • Develop and apply for patents
  • Conduct testing
  • Utilize new materials
  • Integrate, design, and modify new equipment
  • Develop and improve production and manufacturing processesR&D - Develop and improve production and manufacturing processes
  • Develop software
  • Improve new manufacturing facilities
  • Automate and streamline internal processes
  • Expend resources on outside contractors for above activities
  • Utilize rental equipment for above activities
  • Procure supplies for above activities

Industries that qualify include entertainment, aerospace, manufacturing,
software, engineering, agricultural, retail, distribution, consulting, and
many other businesses.