If you’re an innovative US business owner, there’s something you need to know:
There is a VERY good chance you’re overpaying your taxes.
In fact, if you’re innovating in any way, and you’re not claiming the R&D Tax Credit, you’re definitely paying more than your fair share of taxes.
What is the R&D Tax Credit?
The R&D Tax Credit was created by Congress to:
- Fuel American innovation by reducing the tax bill of qualified businesses
- Protect American jobs by keeping our technological capabilities here
- Drive GDP by investing in innovative companies
- Keep American businesses thriving by offsetting the cost of our premium American talent.
Why is 2016 the year to start claiming the R&D Credit?
Prior to 2016, the R&D Tax Credit could not be taken against AMT. That’s all changed now.
That means if you run a company and AMT has traditionally kept you from further reducing your tax liability, 2016 is your year.
Now you can use the R&D Tax Credit to reduce your tax bill below AMT.
That’s why now is the time to jump on the R&D Tax Credit.
But wait, how do I know if my work qualifies as “innovative” or “R&D”?
If you’re unsure whether or not your work qualifies as “innovative”, there’s more good news:
Starting in 2001, Congress evolved the definition to include any activities (products, processes, software, techniques, or formulas) that are new and improved for the company.
In other words, if you’re creating or improving something, whether it’s new to the world or just new to you, you can and should be claiming the research credit.
Types of businesses that stand to gain the most from the R&D Tax Credit:
How much is this Credit worth to you? Check this out:
If this benefit is of interest to you, read on!
Okay, how can I start claiming the R&D Tax Credit?
The R&D Tax Credit can be substantial, and if you want to reduce your tax burden by claiming the credit, you have a responsibility to make sure it’s defensible.
You’ll need to make sure you adhere to the IRS guidelines, and properly track costs associated with R&D-related tasks.
That’s where we come in.
Titan Armor offers the easiest, most defensible way to claim the R&D Tax Credit.
Titan Engineering knows the R&D credit inside and out, and we can show you how to track and claim your research credit without stress or confusion.
So stop overpaying your taxes and start protecting your American innovation!
[su_quote]Prior to our relationship with Titan, we were uncomfortable taking the R&D Credit because we didn’t have a cost effective way to meet all IRS requirements.
With Titan, being able to build contemporaneous nexus and meet all federal and state requirements gives us and our clients the confidence to take the R&D Credit.
We are now able to provide better service to our clients and help save them tax dollars.[/su_quote]
— Ryan Boge – Boge, Wybenga & Bradley
Want to learn more? Watch our recorded webinar: