Research & Development Credits
To increase market share and remain competitive, companies have to continuously develop new and improved products and processes. While the expense of such development can seem prohibitive, tax savings tools, like the research and development credit, can help alleviate those costs.
The R&D credit provides an incentive for companies to invest in innovation in the U.S. and is available to companies in any industry that develop new products or processes or improve upon existing products or processes. Companies that qualify can claim wages, supplies and contract research costs associated with R&D projects and activities.