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.
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: