In the current inflationary period, companies continue to examine ways to improve their cash balances. One area that should not be overlooked is the Research & Development (R&D) tax credit.
Gillon Tax Advisors’ experts have over 25 years’ experience calculating and defending R&D credit claims, and have filed some of the largest claims in the industry with over 95% success rate on audit. Our process is thorough, but aimed to be minimally invasive to the company and its R&D team.
To qualify for the R&D tax credit, a company must pass a “four part test”. To qualify, the company’s activities must be:
- Technological in nature (i.e., using the “hard sciences” – biology, chemistry, computer science, engineering, math, etc.)
- Developing a “new or improved product or process”
- The development involves “uncertainty” as to how or if the product or process can be developed at all
- The team embarks on a “process of experimentation” to resolve the uncertainty.
If you believe that your company could benefit from the R&D credit, contact us for a complimentary analysis of potential benefit. Schedule a time that works for you here.