Engineers must continuously innovate to remain competitive in today’s global environment. As engineering firms develop new products and design new concepts, there’s a good chance that their activities may qualify for federal R&D tax credits to offset the significant cost of development. Further, most states offer state R&D tax credits that can significantly reduce an engineer firm's state income tax burden.
The federal R&D tax credit was designed to stimulate innovation, growth and competitiveness. Now that the tax credit has been made permanent, engineering firms have even more incentive to strategically plan, qualify and report their R&D expenses to qualify for the credit. That includes many small and midsize engineering service firms.
Any engineering activity must meet the four-part test to qualify for R&D tax credits.
To learn more R&D tax credit services for engineers, simply fill out the form on this page and a member of our team will be in touch with you. Or, you may call us at (800) 260-4138 nationwide.