What to Know About New York R&D Tax Credit Opportunities

As one of several refundable credits available in the state of New York to reduce income tax, the New York Excelsior R&D credit program is one of the best tax credits in the Northeast. New York’s Excelsior Jobs Program encourages businesses to expand in and relocate to New York while maintaining strict accountability standards to guarantee that businesses deliver on job and investment commitments. 

To qualify for any of the four programs under the New York Excelsior Jobs Program, businesses must meet and maintain certain established job and investment thresholds. 

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Demystifying R&D Tax Credit Documentation

Many companies that otherwise would qualify for valuable research and development (R&D) tax credits never bother to apply for them. What would cause a business owner to leave thousands or even millions of dollars on the table? The culprit is often the federal government’s requirements for the documentation of a company’s qualifying activities. While the need for documentation is certainly instrumental to the IRS’ approval process, the lack of understanding about what documentation entails needlessly keeps many out of the R&D credit arena.

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Construction Industry: Take Advantage of Savings This Tax Season

With another tax season underway, those who work in the construction industry are likely seeking ways to reduce their tax liabilities. Fortunately, there are two great ways construction companies can save thousands to millions of dollars—the research and development (R&D) tax credit and the 179D energy tax deduction.

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Automotive Industry Ripe with R&D Tax Credit Opportunities

Does your manufacturing business improve a process or product for the automotive industry? Do you work to make an automotive product cleaner or more efficient? Or, perhaps you provide technical solutions that make production work more efficiently. If you are conducting any of these activities, are you taking advantage of the research and development (R&D) tax credit?

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Why Should Business Owners Partner With an R&D Tax Credit Expert?

Consider making the R&D tax credit part of your long-term strategic planning and make sure you’re not leaving money you’ve earned on the table.

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Tax Point Advisors Names Andrea Stone to Management Committee

Tax Point Advisors, a leading expert in research and development (R&D) tax credits and specialty tax services, has promoted Andrea Stone to principal with the firm and a member of its management committee. 

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How Much Can Your Business Save Through R&D Tax Credits?

R&D tax credits can immediately benefit a company as a significant source of cash for reinvestment or other needs. They also provide a significant reduction to current and future tax liabilities. Tax Point Advisors has been able to help companies claim significant tax credits ranging from tens of thousands up to millions of dollars. Through the following examples, we hope you will gain a deeper understanding of the outstanding opportunity that is available for your company for your eligible activities.

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Job Shops Can Receive Rewarding R&D Tax Credits

As the owner of a job shop, do you know that you may qualify for valuable research and development (R&D) tax credits? That means you can receive large sums of money for activities you and your employees are already conducting in your shop. In fact, the R&D tax credit is one of the most lucrative federal tax credits available, and most states have implemented their own programs modeled on the federal program.

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Do Your Business Activities Qualify for R&D Tax Credits?

Think about it—only one out of every 20 eligible businesses takes advantage of the research and development (R&D) tax credit. That’s because many business owners don’t realize that their industry is ripe with eligible activities. While many industries have qualifying activities, an R&D tax credit study can help you determine which activities qualify.

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Pharmaceutical Companies: Seize R&D Tax Credit Opportunities

According to a recent industry report, the U.S. pharmaceutical industry spends more than $100 billion annually on research and development (R&D) activities involving the development, design and testing of new or improved pharmaceutical drugs. Many of these activities qualify for federal and state R&D tax credits; is your company taking advantage of this opportunity to reinvest in the growth of your company?

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