Research and Development Tax Credits
PRIMARY CONTACT: Ross S. Alessandro III CPA
Both federal and state tax credits exist to reward companies for investing in Research and Development (R&D).
The federal credit can net as much as 10% of credit year expenditures, and many states, including Ohio and Pennsylvania, also offer a credit for research. Additionally, new tax rules might make it easier for your company to claim and utilize a Federal R&D tax credit (even if your company is a pre-revenue start-up).
Our professionals have significant experience in conducting R&D studies for a variety of industries, including, but not limited to, manufacturing, emerging technology, transportation & logistics, and construction. Let us help you to make the most of your investment.
Key Tax Opportunities
At Schneider Downs, we can help to review your current R&D Tax Credit calculation or conduct an R&D Tax Credit Study to determine the amount of any potential credits. We can facilitate your company’s accounting and application for this credit by:
- Determining qualified research activities and expenditures
- Creating the documentation needed to substantiate the credit
- Detailing the state tax benefits that may be available
- Preparing any required tax filings
- Providing support with federal or state audits
Our professionals have significant experience in conducting R&D studies for a variety of industries, including manufacturing, software development, metal production and chemical products. Let us help you to make the most of your investment.
Additional Tax Credits and Incentive Services
- Cost Segregation Services
- PA Educational Improvement Tax Credits (EITC)
- State Credits and Incentives
About Schneider Downs Tax Advisors
With one of the largest regional tax practices in the country, Schneider Downs Tax Advisors’ personal focus on clients and in-depth understanding of current issues ensures that clients are complying with tax filing requirements and maximizing tax benefits. Our industry knowledge and focus ensures delivery of technical tax strategies which can be implemented as practical business initiatives. Learn more at Tax Services.
Learn how we’ve Solved Big Problems For our clients
Big Problem: Company Impacted By Ransomware.
Big Thinking: Restore System On-site And Avoid Six-figure Ransom.
Big Problem: Inefficient Tax Credit Realization.
Big Thinking: Identified A $900,000 Tax Credit, Nearly Twice As Much As Prior Years.
