How Can The R&D Tax Credits Help Businesses?

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Hi, this Julio Gonzalez with Engineer Tax Services. And this pandemic has been really tough on small business, but small businesses, just so you know, there's a tax credit associated with wages that maybe you've never taken advantage of. And that's the Research and Development Tax Credit. That's a credit against wages, or wages based in the USA, that are wages or jobs that involve innovation. So these are important tax credits that small businesses don't always take advantage of. We work with you we work with their CPA to determine how much of your labor force is involved in making a product or a widget or service better, faster, quicker, and that it's ultimately innovation within your company. And to the extent that we qualify that labor percentage that that will qualify for the federal tax credits. And some states have a matching credit as well. So again, get with your CPA firm contact us at engineeredtaxservices.com or askjulio@engineeredtaxservices.com so we can do a Free Benefit Analysis determine the ultimate tax benefits that your would be awarded if you went through the R&D Tax Credit. Now this tax credit is every year so and we can also go back to previous tax periods to get refunds and go back through open tax periods. So anyway, that's a quick summary on r&d tax credits. And again, reach out to us if you have any questions.

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