Companies developing, designing, or improving products, processes, and software often qualify for the federal research and development tax credit. This credit allows companies to reduce their tax liabilities and keep more money within the business. Many companies miss this opportunity because they don’t know how it works or what to expect.
Use Against Income Taxes
Receiving the federal research and development tax credit can be used against a company’s income taxes. You can match this credit dollar for dollar against your annual income tax, saving your company significantly.
Claim Without Limits
One advantage of the federal research and development tax credit is no limit on how much you can claim. You can receive limitless funds based on your development tasks if you have qualifying documentation to support your claim.
Carry Toward Future Growth
Your federal research and development tax credit is an excellent way to move forward. Every business wants to grow. By putting money back into your business with a tax credit, you have more disposable funds to expand your company.
Drive Innovation
The R&D tax credit drives innovation, encouraging companies to develop and improve processes, products, and software. When contributing to this initiative, you will make a name for your company and get the benefits of a tax credit to support further innovation.
If you’re interested in exploring the federal research and development tax credit, visit Business Name now.
