When it comes to choosing an R&D tax credit provider, the consultative approach makes all the difference. At GOAT.tax, we pride ourselves on investing time in comprehending our clients' histories, present business directions, and future growth goals. Our team of dedicated professionals, including CPAs, engineers, and attorneys, collectively boasts 305 years of R&D tax credit experience. We go beyond just the annual evaluation of a company's eligibility for the credit; we also offer ongoing recommendations to enhance the R&D tax credit process.

If you're in the process of evaluating R&D tax credit providers, consider the following top 10 questions to help you make an informed decision:

  • How long has your firm been performing R&D tax credit studies, and how many studies have they completed?
  • Does your firm employ degreed or professional engineers and attorneys with specific R&D tax credit experience?
  • Does your firm perform R&D studies in the USA, or do they subcontract to a third party or overseas?
  • How does your provider assess their fee? Is it fixed based on project scope or a percentage of the variable benefit?
  • Will your firm defend its work in the event of an audit, and is this defense included in the fee?
  • Does your firm offer a no-cost feasibility analysis conducted by a senior R&D technical professional?
  • Does your firm provide a consistent team year over year, ensuring familiarity with your business and an efficient R&D tax credit study process?
  • Does your firm recognize and offer other tax incentive strategies that could potentially offer additional savings?

Always ask for references and make sure to follow up with them to gauge the provider's reputation and client satisfaction.

At GOAT.tax, our industry-leading R&D tax credit team has earned the trust of business owners and tax professionals nationwide. Contact a GOAT.tax representative today to discover why our services are relied upon for R&D tax credit needs.

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Which Industries Qualify?

The R&D tax credit can be applied to a wide variety of industries, including (but not limited to):

Aerospace

Tool & Die

Metal Fabrication

Plastics & Injection Molding

Consumer Products

Manufacturing

Architecture & Engineering

Food & Beverage

Financial Services

Mortgage & Banking

Software Development

Chemical

Contract Manufacturing

Construction / MEP

Pharma

Oil & Gas

Popular

By
Deb Roth
on
August 14, 2023

Maximizing Cash Flow Through Government Tax Opportunities

Amid the ongoing challenges posed by COVID-19, numerous small and midsize businesses are grappling with maintaining cash flow, operational capabilities, and their internal research and development initiatives. While the Coronavirus Aid, Relief, and Economic Security (CARES) Act did extend financial aid to these COVID-19-affected enterprises through emergency grants, retention tax credits, and forgivable loans, these solutions offer only temporary cash flow relief, falling short of providing lasting solutions.

By
Deb Roth
on
August 14, 2023

Understanding the R&D Tax Credit Carryforward Period

The R&D Tax Credit Carryforward Period refers to the duration during which unused portions of research tax credits can be applied to offset future tax liabilities. This provision is often overlooked by many taxpayers who are eligible for R&D Tax Credits. In most cases, companies that have qualified research expenses but lack current income can carry forward these credits to offset taxes on forthcoming profits. The carryforward period allows credits to remain applicable for up to 20 years. Additionally, the option to carry back credits for the previous year is also available.

By
Deb Roth
on
August 14, 2023

Are R&D Tax Credits Convertible to Cash?

Navigating the world of R&D Tax Credits often prompts the question: Can these credits be converted into cash refunds? It's a query frequently posed by businesses seeking to maximize their returns on research and development investments. While R&D Tax Credits themselves aren't inherently refundable, they can still yield a financial windfall in the form of cash benefits.

Have any question? We're here to help.

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