Research & Development Tax Credits

Research & Development Tax Credits

Both Federal and State research and development tax credits reward companies based on their investment in developing new products and processes. However, one of the greatest misnomers involving these credits is that many companies do not think they qualify. To the contrary, these credits are not limited to companies that solely provide product development — they are equally applicable to companies that develop new processes including improved efficiencies. Likewise, companies may claim the credit even for products that they have developed to sell to their customers. In fact, many of our clients claim their credits based solely on what they invest in developing a new product or process for their customers.

McGuire Sponsel’s research and development tax credit practice conducts retroactive studies, current year engagements, and risk advisory services. Our professionals combine an understanding of tax law with engineering disciplines to maximize companies’ research credits and reduce their overall tax burdens. McGuire Sponsel provides documentation to withstand the highest level of IRS and state tax authority scrutiny.

Additional R&D Resources

Recent Articles

David Seibel
LB&I Division Offers New Safe Harbor

The Large Business & International (“LB&I”) Division of the IRS recently issued Directive IR 2017-158 to provide LB&I examiners guidance regarding examination of the Credit for Increasing Research Activities under §41 (“R&D Credit”).  It is applicable for taxpayers with assets […] Read More

David McGuire
Business leaders: Make moves now to take full advantage of tax reform

With all eyes on tax reform and a final bill that now seems imminent, businesses should begin focusing their attention on 2017 tax returns. With so many sweeping changes ahead, several strategies exist to realize the maximum tax benefit from the […] Read More

TJ Sponsel
Four Year-End Tax Saving Strategies to Consider

As we move past Sept. 15, now is a prime time to explore additional tax saving strategies of all shapes and sizes. McGuire Sponsel would like to take this opportunity to discuss how we can partner with your firm to […] Read More

David Seibel
Are you Amending your 2016 Return to Claim the Payroll Tax Credit?

Recently, the IRS issued Notice 2017-23, which provides guidance on the R&D payroll tax provision enacted in the Protecting Americans from Tax Hikes (PATH) Act passed in December 2015.  For tax years beginning after December 31, 2015, taxpayers that have […] Read More

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