Did you know the R&D Tax Credit was originally for those experimenting in white lab coats? While many think that this still stands true today, the R&D Tax Credit has evolved throughout the years to include more than just nerdy laboratory scientists! The most common industries that qualify for the R&D Tax Credit include manufacturing
The Research and Development (R&D) Tax Credit is comprised of three main categories of cost that can qualify for the credit. The three categories, formally known as “Qualified Research Expenses (QREs),” include wages, supplies, and contractors. QUALIFIED LABOR Qualified Labor is the portion of the company’s total labor expense (summed up on the Form W3)
The R&D Tax Credit is an incentive to protect American jobs by rewarding companies who are constantly striving for the “next best thing” here in the U.S. From startups to mid-sized businesses to Fortune 500s, this tax credit is for those who innovate, create, and problem solves with American ingenuity. Form 6765 is often overlooked
Capture the R&D Tax Credit (Form 6765) on your 2018 Return for FREE. Follow the infographic to easily estimate your QREs (in the form below). Your CPA doesn't have access to you QREs - that's where we come into play.
To calculate the R&D Tax Credit, you need to complete IRS Form 6765 and include it as a part of your company's tax return. The challenge is, your CPA can't do it without YOUR help - you need to give him/her your total Qualified Research Expenses (QREs). In addition, the Form can be a little