Is your company eligible for the federal research and development tax credit? Depending on your business’s location, you could potentially offset up to 20 percent or more of your research and development expenses through this credit.

Many small to mid-size businesses mistakenly believe they don’t qualify because they aren’t engaged in high-tech or laboratory research. However, this assumption could cause you to miss out on a portion of a multi-billion dollar tax credit, simply because you lack the knowledge and in-house expertise to pursue this valuable credit.

Securing the R&D tax credit necessitates the guidance of an R&D tax credit professional. It often boils down to a four-part assessment, complicated by numerous requirements within each segment and supplementary regulations. Thorough evaluations and documentation of research activities conducted over time are essential. These evaluations are further complicated by an extensive body of case law and the need to align research activities with allowable expenditures.

Miami Tax Advisor has the proficiency to assess your operations and determine eligibility. Moreover, if your business qualifies, you may be able to retroactively apply for credits for the past three open tax years and potentially closed tax years, depending on your specific circumstances.

At Miami Tax Advisor, we are committed to preventing missed opportunities. Our approach involves deep knowledge, understanding, and a genuine investment in our clients’ businesses to ensure valuable opportunities like these aren’t overlooked. This is yet another way we demonstrate how working together with you sets us apart.