The purpose of an R&D Study is to quantify and support a company’s research and development efforts through the analysis of qualifying activities and the expenses those activities generate. The result of the study is the dollar amount of the Research and Development Tax Credit that a company can claim on its tax return…
Performing an R&D Study: What Documentation is Needed?
An R&D study is vital for properly calculating and documenting the R&D Tax Credit. If the R&D Tax Credit you claim on a tax return ever falls under examination by the IRS or state authority, one of the first questions asked is “did you have an R&D study performed prior to taking the R&D Tax Credit on your tax return?”
Research and Development Tax Credit: What You Need to Know
Research and development activities are often costly, but necessary, aspects of running a business. Not only does continuous research allow you to improve current products, but it also ensures that your business stays at the forefront of your industry by developing new products, treatments, or methods of production…