Research & Experimentation Tax Credit

One of the biggest challenges facing businesses today is boosting revenues without increasing expenses. In general, the best solution is to improve efficiencies, enhance your product line, and introduce new merchandise or goods – if possible. Many operational and product changes are evolutionary by nature, eliminating the need to obtain a new patent, and now there may be an opportunity for you to obtain a Research and Experimentation (R&E) Tax Credit, as well.

An R&E Tax Credit Study is a technical assessment of your activities. BST works with a variety of businesses in many different industries that are well-positioned to benefit from this tax credit. The BST tax professionals will identify expenditures that qualify for the R&E Tax Credit under both the federal and state tax codes, and will work with you to increase your cash flow, and educate your employees so they can learn to recognize qualified R&E expenditures.

BST will help you develop internal procedures to track and easily access these expenses, should you require this information for the IRS or state examination.

If your business meets any of the criteria below, you may be eligible for an R&E Tax Credit Study:

  • If you use technological processes to produce tangible products and make improvements to the product or process.
  • If you develop new or improved software applications for internal or external purposes.
  • If you develop new or enhanced processes for producing goods.