Are you getting the full R&D tax credit you qualify for?
Your business may qualify for R&D tax credits that you haven’t been taking advantage of. Tax law is complex, and many activities that aren’t traditionally research and development-oriented actually qualify for credits at the state and federal level.
R&D tax credit qualified activities
In fact, many of your day-to-day activities may qualify. The R&D tax credit four-part test lays out the basic requirements:
- The activity must relate to a new or improved business component (e.g., product, process, technique, formula, invention or software application)
- The activity involves physical or biological sciences, engineering or computer science in the research process (you may use existing technologies or principles to satisfy this requirement)
- The activity is intended to eliminate technical uncertainty through research (e.g., capability, method or design) related to the development or improvement of the business component
- Substantially all of the activity or activities must relate to a process of experimentation, such as systematic trial and error, modeling or simulation
You can benefit by deducting your research expenditures and claiming the R&D credit.
Identify and maximize your credits
Wipfli’s research and development tax credit team helps your business identify tax savings opportunities so you can lower your tax liability and increase your cash flow. Also called the research and experimentation tax credit (or R&E tax credit), this credit is available both at the federal level and in the majority of states.
Let our team of engineers, technical writers and financial leaders work together to help you maximize your benefits under this valuable credit so that you can continue to reinvest in your business.
Featured Thought Leader
Kendra M. Goodman, CPA
Kendra Goodman works with a variety of clients in various industries to provide research and development (R&D) tax consulting services. Her strong focus on the R&D area has resulted in extensive experience with new product development and process improvement. Kendra helps clients identify and understand their R&D opportunities, maximize their R&D credit benefits, and document them to support the credits claimed.
Valerie K. Fedie
Valerie Fedie works with a variety of clients to provide research and development (R&D) tax consulting services to maximize R&D tax credits. With a strong focus on R&D tax services since her career began in 1997, she has extensive experience including planning, supervising, and executing R&D tax incentive projects as well as providing federal and state audit support services. Valerie enjoys helping clients overcome challenges and maximize opportunities with new product or process improvements.
Greta Heike, CPA
Greta Heike provides R&D consulting services. She consults with a variety of clients in various industries to help them understand their R&D opportunities in relation to their new product development and process improvements and then maximizes their R&D credit benefits. Greta also assists with documenting and supporting the credits claimed and IRS audit defense.
Christina Schultz, CPA
Christina Schultz, a tax senior manager on Wipfli's research and development (R&D) tax credit team, has extensive experience involving both research and expenditure deductions under Section 174 and costs eligible for the R&D tax credit under Section 41. Since she began her career in public accounting in 2008, Christina has served a diverse group of publicly traded and privately held manufacturing and distribution clients. She leverages this broad experience to maximize the value of the tax credit and improve clients' cash flow.
Adam J. Herman, CPA/ABV/CFF, CVA, ASA, CFE
Adam Herman has over 30 years of experience in supporting new business growth nationwide through his leadership, creativity, energy, integrity, networking skills and credentials, which are highly respected among valuation, IRS and business professionals. He manages an elite group of professionals, including CPAs, valuation analysts, forensic experts, engineers and technical writers, in the fastest-growing areas of public accounting today.
Mike Devereux, CPA, CMP
Mike Devereux has identified millions of dollars in tax incentives for manufacturing clients, led hundreds of research and development (R&D) tax credit study engagements and demonstrated leadership and exceptional judgment in the tax structuring of various acquisitions. He speaks nationally to various professional and industry trade organizations and associations about opportunities to reduce federal and state tax liabilities and has written dozens of articles for trade publications.
Doug Kolker, CPA
Doug Kolker focuses on research and experimentation (R&E) tax projects, allowing him to use his experience to help clients maximize the R&E tax credit. He assists manufacturing, technology and software companies nationwide to successfully reduce their tax liabilities by uncovering research and development (R&D) credits. Doug is also responsible for the overall planning, organization, supervision and completion of client engagements. He has a broad background in tax planning, working with closely held businesses, corporations, partnerships and limited liability companies.