If your company has invested time, money and resources to the advancement and improvement of your company’s product or processes, then you likely qualify for the Federal R&D Tax Credit Incentive Program.
However, many firms are unaware of how or even what to qualify; thus, the opportunity goes unclaimed.
Prairie Advisors Group (PAG) works with you risk free to analyze your business and to determine the maximum amount of available incentives.
We provide a free consultation and feasibility report to determine the cash benefit prior to moving forward.
The R&D Tax Credit Opportunity
- A hidden and immediate source of cash for many small and mid-size companies
- A significant reduction to current and future year’s federal and state tax liabilities
- Over $5 Billion in federal R&D tax credit benefits are given out annually
- Approximately 80% of the $5 Billion goes to a few of the nation’s largest companies
- Every successful company is potentially eligible for an R&D tax credit of some amount
- Many companies are unaware their day-to-day operations can qualify
The 20% research tax credit is not a deduction. It’s a dollar-for-dollar credit against taxes owed or taxes paid.
A business can take the credit for all open tax years – generally the last three, or four years plus the current year.
Additional years may be available if taxpayer is in a net operating loss or alternative minimum tax position.
Benefits to Your Business
- Significant credits/cash back from previous 3 open years
- $1 for $1 reduction on current year’s taxable liability
- Additional tax savings in the future
- Unutilized credits are carried back 1 year and then carried forward up to 20 years
Prairie Advisors Group will provide a free consultation and feasibility report to determine the benefit. The fee charged upon initiating the project is dependent upon the size and scope of the project.