Your business may be missing an opportunity
Many businesses that are eligible for the credit simply don’t claim it. Often, business executives and advisors have a view that the R&D credit is for Fortune 500 companies that are doing research in a laboratory setting. This is certainly not the case. Large and small businesses can use the credit. Industries that qualify for the R&D credit are as diverse as apparel, software, tool, and die, food, wine, architecture and engineering, agriculture, foundries, furniture, and many others. The bottom line is if you make something there is a good chance you are engaged in activities that may qualify for the R&D credit.
Read more about the R&D Tax Credit.
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