800-260-4138
Thank you for requesting a free assessment from Tax Point Advisors. We sincerely appreciate your interest and will be back in touch with you as soon as possible.
In the meantime, please feel free to browse through our most recent blogs found below.
Please also feel free to connect with us on social media: LinkedIn, Facebook and Twitter.
And, for additional questions about R&D tax credits, contact us at any time 800-260-4138.
For years, businesses investing in innovation have faced a frustrating tax hurdle; under Section 174, domestic research and development (R&D) expenses could no longer be deducted immediately and instead had to be amortized over five years. That change created cash flow strain for many companies, especially small and mid-sized businesses heavily invested in product development, software creation, and process improvement.
The state of Connecticut is doubling down on innovation, and small businesses stand to benefit in a big way. Recently there has been a push by state leaders to expand and strengthen R&D tax credit programs, with a particular focus on making them more accessible and valuable to startups and small to midsize companies. For businesses investing in research, product development, or process improvement, this signals a major opportunity to improve cash flow and reinvest in growth.
Many of the activities conducted by restaurant technology and software companies qualify for the R&D tax credit.
Many companies in the food processing industry do not realize that they are eligible for the research and development tax credit.
R&D is essential to driving technological change in aquaculture, and many people working in the industry engage in R&D activities on a weekly basis. These activities could qualify for a significant tax credit that shouldn’t be passed up.
All of the innovative pursuits related to crafting beer with various new flavor and aroma profiles, are exactly the types of ventures that the R&D credit is available for.
