Walter & Shuffain - Certified Public Accountants & Business Advisors

Research & Development Tax Credit Studies

The R&D Tax Credit has been part of the Internal Revenue Code since 1981. Until recently, the rules were confusing as to who even qualified, let alone which products or processes might qualify, and many companies failed to take advantage of the provision.

Newer federal rules have made the R&D Tax Credit clearer and eased the reporting requirements on how companies can qualify. However, federal and state tax laws dealing with credits are still highly complex and securing these tax benefits requires companies to thoroughly document their qualifying research activities. The team at Walter & Shuffain can assist your company in getting the full value of the R&D Tax Credits to which it’s entitled.

Companies conducting any of the following activities may qualify for the R&D Tax Credit:

  • New or innovative products
  • Unique processes
  • Design engineering staff
  • Qualification testing
  • Patent development
  • Software development
  • PhD research
  • Improvement of existing products
  • Prototype work
  • Environmental design

Companies in the following industries* are likely candidates:

  • Manufacturing
  • Biotechnology
  • Telecommunications
  • Food Processing
  • Software Development
  • Construction

*The Research & Development Tax Credit is not limited to these industries. Any company performing qualified research activities can qualify.

Contact us for more information about W&S’s Research & Development Tax Credit services.