Blog Series: Navigating the
R&D Tax Credit

The R&D Tax Credit is one of the most subjective areas of the tax code and many businesses believe they qualify. As a trusted advisor to CPA firms, McGuire Sponsel receives many inquiries on potential client opportunities and what types of companies should be exploring the R&D Credit. Along with these inquiries, we also receive questions related to providers directly marketing R&D Studies to businesses and CPAs being unsure of the validity of the qualifications to claim the Credit.

With the IRS placing more scrutiny on the R&D Tax Credit, it is important to be aware of common myths of the credit as well as areas of exposure when building a claim. To dispel some of these misconceptions and provide clear guidance for CPA firms and businesses that may qualify for the R&D Credit, read our weekly blog series outlining hot topics related to the R&D Credit and our approach to navigating them.

Check back every Wednesday for other articles exploring these key concepts including:

• Technical Risk versus Economic Risk
• The eligibility of certain industries to claim the R&D Credit, including dental/medical practices and construction companies
• The adaptation exclusion
• Reverse engineering and duplication versus evolutionary or revolutionary development
• Prototype/Pilot model supplies expenses