In 1981 Congress enacted the R&D tax credit, which according to recent IRS data has since been expanded through several administrations. It was designed to help American businesses that are thinking bigger and better be more competitive. Over 700 tax incentives are available to small businesses. The TIER Group analyzes and matches you with the most appropriate licensed service provider for your specific type of business. Our number one priority is finding new funding streams for your business. Once connected with an in-network tax professional a no-obligation free analysis will be conducted to see if your company qualifies for these credits and incentives, if successful, you now qualify to receive rebate checks from the State and Federal Government.
According to tax law, you can go back several years on your taxes and still claim these incentives, with an average recovery amount of $104k in 2018 a company has nothing to lose to see if they qualify other than a relatively small amount of their time.
Approximately 85% of Fortune 1000 Companies file for these tax incentives, utilizing internal teams of accounting specialists. However, fewer than 5% of small businesses file for these incentives. The reason? Most small companies simply aren’t aware of these programs or don’t know how to apply for these. Join the 5% expanding on the fruits of their labor.
S Corp – 1 Shareholder – 10 employees
$81,000 in Federal Incentives
Commercial Construction Company
S Corp – 4 Shareholders – 50+ employees
Long Beach, CA & the Western States
$262,000 in Federal & State Incentives
Tool & Die Company
S Corp – 2 Shareholders – 100 employees
San Diego, CA
$1,200,000 in Federal & State Incentives
Commercial Plumbing Company
S Corp – 2 Shareholders – 11 employees
$155,421 in Federal & State Incentives
S Corp – 2 Shareholders – 14 employees
Newport Beach, CA
$155,000 in Federal & State Incentives
Coin Stamping Business
LLC – 2 Partners – 3 employees
$44,000 in Federal & State Incentives
Sole Proprietor – 10 employees
$47,700 in Federal Incentives
Steel Manufacturing Company
S Corp – 1 Shareholder – 200 employees
$1,500,000 in Federal Incentives
Despite these positive changes to the R&D tax credit, claiming the credit remains one of the most challenging provisions of the tax code. Thus, it is recommended that businesses should consider engaging a tax professional with R&D tax credit expertise to help them qualify for and claim this beneficial credit.
The U.S. offers some of the world’s richest R&D tax incentives, but chances are you’re not taking advantage of them and getting the cash you deserve. As the pace of your business accelerates and competition increases, you may be more likely to overlook this source of cash because you’re still undetermined if you qualify.
HOW WE HELP
We facilitate the process of educating small businesses about the government tax incentives that are available to them, with a primary focus on the R&D Tax Credit. The TIER network and its providers’ services do not compete with traditional CPA services. Think of them as your general practitioner and they are your shoulder surgeon.