The R&D Tax Credit isn’t only for Fortune 500 companies anymore.
Your business can benefit, too! If you can answer yes to the following questions – you likely qualify:
1.) Is your business innovating to make you more competitive and to stay ahead of the market?
2.) Are you innovating by making new or improved products? Or, innovating with new or improved processes to make your products?
The R&D Tax Credit is designed to benefit businesses who are innovating to make their products and processes better. Yet, in the past AMT restrictions often limited this benefit to small and medium sized business. The PATH act of 2016 lifted these restrictions, enabling all businesses to more consistently qualify and benefit from the R&D Tax Credit.
It’s time to revisit the Research Credit. Armor provides easy access for all businesses – middle market and smaller.
Small Businesses may now offset AMT and payroll tax liabilities.
The Research Credit isn’t only for Fortune 500 companies anymore.
Businesses historically have not been able to use the Section 41 research credit in tax years where there was no regular income tax liability. However, on December 18, 2015, then-President Obama signed into law the Protecting Americans from Tax Hikes (PATH) Act of 2015, which includes favorable changes to the research credit that help mitigate the impact of this limitation.
In particular, the PATH Act of 2015 allows certain small businesses to offset their alternative minimum tax (AMT) or payroll tax liability with the research credit. As a result, small businesses in an AMT or loss position that otherwise would not have claimed the research credit should now consider doing so.
Four Steps to the Bullet-Proof R&D Tax Credit Plan
Titan Armor’s Bullet-Proof Software is broken up into four segments – each stage ensures you are 100% audit compliant with current tax laws. With over $30M credits captured and counting – this is the most secure R&D Tax Credit plan in the industry.
Your work environment is most likely chaotic. On top of that – the body of law that defines the R&D Credit is complicated and ever-evolving.
You need a strategy to quickly isolate your Qualified Research Activities and Expenses from the rest of it. In less than an hour, we’ll lay out a Game Plan for you at not cost, and show you exactly what you need to do to claim this tax credit that’s available to you.
Contemporaneous Nexus, by definition, is tracking qualified expenses against qualified activities as you’re spending the money. However, it doesn’t have to be difficult or time consuming.
Just before going home each day, your Key Innovators log into Armor and record time spent on R&D activities. It takes just 60 seconds each day – they easily do it from a desktop or with Armor’s mobile app.
Not sure what project qualifies for the credit? No problem! With Titan Armor, you’ll have the answers.
Titan Armor provides the framework for your operation to ensure that projects meet all IRS requirements. Our Quarterly Reviews enable you to track your progress throughout the year – as well as identify opportunities to make adjustments.
As IRS rules and interpretations change – Titan continuously updates the Armor interface and support. That means there are no surprises when it’s time to file your taxes – we’ll keep you on track.
At tax time, Armor applies the appropriate salary and vendor cost data to your project tracking data and finalizes your R&D Credit computation in a standardized report. It’s everything your CPA needs to defensibly claim your benefit on your tax return. No recreating data. No guess work and no expensive consultants interviewing your employees and coming up with a credit amount out of thin air.
Oh – and if you’re audited? We’ll manage the exam, along side your CPA, at no additional cost for services.
Titan has more experience dealing with auditors than any other firm in the game. Armed with that experience, we’ll leverage your Contemporaneous Nexus to successfully defend your R&D Tax Credit the right way – the bullet-proof way.
The only legitimate and defensible way to claim the R&D Tax Credit is to track costs spent on R&D related tasks as they are done. This is called Contemporaneous Nexus, and it’s what the IRS wants to see when auditing R&D credits.
The only problem is – keeping track of R&D projects, labor, supplies, and contractor costs as it happens can be frustrating for both you and your employees.
That’s why we built Armor – a cloud-based solution that makes it easy.
No Contracts. No Hassles.
Join those that rely on Armor
to accurately capture the R&D Tax Credit.
Need R&D Audit Defense?
Is the IRS challenging your R&D tax credit? Breathe easy. Titan Armor has more experience and more success with R&D audits than any other company in the R&D tax credit industry.