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Tax Credits – R&D

The IRS has issued tax credits for research and development and you could benefit. Honkamp Krueger can help you take advantage of these credits if you qualify.


Tax Credits – R&D

Are you taking advantage of IRS regulations that have been issued for research and development (R&D) tax credits for businesses? Honkamp Krueger can take a closer look to see if you may qualify for R&D tax credits.

Activities that may qualify as research and development:
  • Manufacturing products
  • Developing new products, processes, formulas, software, techniques, etc.
  • Improving on existing products, processes, formulas, software, techniques, etc.
  • Creating more reliable products, processes, formulas, software techniques, etc.
  • Developing prototypes or models including computer generated
  • Designing of tolls, jigs, dies, molds
  • Applying for patents
  • Testing new concepts
  • Certifying quality
  • Sourcing raw material
  • Developing new technologies
  • Improving existing or building new facilities
  • Attempting the use of new materials, concepts, processes
  • Developing custom software for internal uses
  • Developing or designing new systems utilizing existing products
  • Creating new formulas or products to enter new markets or industries
Common industries that qualify for research and development tax credits:
  • Manufacturing
  • Plastic and Injection Molding
  • Aerospace and Defense
  • Food Processing
  • Contract Manufacturing
  • Distribution (Systems)
  • Financial Institutions (Systems)
  • Medical Device Manufacturers
  • Software Development (for sale)
  • Agriculture, Dairy Farmers and Wineries

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