The key to business growth is innovation. Innovation that requires an investment of scarce resources in product development activities that are often expensive and high-risk.
Recognizing the importance of such investment, the research tax credit provides companies and/or their owners with a dollar-for-dollar reduction of a company’s tax liability.
Research tax credits are based on a taxpayer’s expenditures for activities that constitute qualified research as defined by statute. Significant tax benefits can be achieved through the credit; however, to successfully benefit, we recognize the importance of a well documented, supportable study. The client must have systems in place that not only capture the costs relative to the credit but also provide credible substantiation for the credit and resultant study.
We Help You
With assistance from professionals from DiSanto, Priest & Co., the exploration and implementation of a program that allows the taxpayer to effectively capture these expenditures can be quite rewarding, allowing you to reinvest the tax savings in your business.