Research and Development Studies

Taking advantage of research and development (R&D) incentives provided by the United States government can be a very beneficial plan for businesses. Every year, billions of dollars are made available in the form of tax credits and tax reductions for qualified businesses engaging in R&D. These credits are available to businesses in a multitude of industries. R&D in the fields of engineering, architecture, medicine, and several others can qualify a firm or business for substantial R&D incentives.

Who Is Eligible to Receive R&D Tax Credits?

Any firms who are engaged in meaningful research in any of the following fields will most likely qualify to receive some sort of R&D incentives for their efforts:

  • Pharmaceuticals
  • Food and beverage
  • Computer science
  • Engineering and architecture
  • Aeronautics
  • Manufacturing

If your company is engaged in any sort of production, technological development, beta-testing, or experimenting with new technologies, there is a strong chance that it could qualify for R&D funds or credits.

How to Claim R&D Incentives

Companies seeking to take advantage of R&D incentive programs should be engaged in some sort of research in the aforementioned fields or other industrial fields. If there is a goal of developing or improving technologies or processes that people may benefit from, it is important to perform an evaluation to determine whether or not R&D incentives are applicable.

ELB Consulting has a dedicated team of professionals who specialize in evaluating R&D tax credit candidates. These specialists can guide your business through the process of claiming these credits from start to finish. Call now to set up a comprehensive consultation to determine if your business can benefit from these incentive programs and potentially save thousands or even hundreds of thousands of dollars.