Qualifying clients average $250k in R&D Tax Credits from the IRS for their investments in innovation.
With just a little info, our Strike Experts can help you start your R&D tax credit journey.
Recover upwards of 10% of your R&D spend from the IRS. Qualified small businesses can offset payroll taxes up to $250,000 per year.
Depending on the state where the R&D activities are performed, companies can recover up to 12% of their expenses to offset various tax liabilities.
All expenses must undergo The 4-Part Test in order to determine whether the claim meets the qualifying criteria standard for approval.
The 4-Part Test is the most challenging and extensive part of any R&D Tax Filing. It is essential to have an experienced hand to ensure that your R&D Tax Credit return is properly filed to maximize the return R&D tax credits.
The research must impart new or improved functionality, performance, reliability, or quality to a product, process, formulation, invention, software, or technique.
The activity undertaken relies on the principles of “hard” sciences including physics, biology, engineering, chemistry, or computer science.
The activities constitute a process of experimentation with the intent to resolve the technical uncertainty through the systematic evaluation of alternate solutions.
From the outset of the project, the development team must encounter technical uncertainty regarding the optimal design, methodology, or capability to achieve project specifications.
Here’s a look at the types of expenses your company can claim for R&D Tax Credits.
US Employee Salaries
Supplies Consumed in R&D
US Subcontractors
Offsite Server Rental & Cloud Computing
We’ll work with you to surface all the appropriate documentation to provide a comprehensive report of your qualified R&D tax credits.
Tax Returns &
Financial Statements
Employee Payroll & Expense Reports
Project Lists
Supporting Documentation
These elements will help us to develop a list of expenses related to the development of...
Inventions
Processes
New/Improved Products
Software
Formulations
Techniques