The Research Tax Credit (also known as Research & Development Tax Credit) is a general business credit established in 1981 to reward U.S. businesses of all sizes for investing in industry-specific innovations. The credit is available to all entities filing a federal tax return. At Sol Schwartz & Associates, our goal is to maximize your use of both federal and state tax credits and incentives to help your business remain competitive and contribute to the advancement of your particular industry. Our team of experts can determine if you are eligible for this credit and help you generate an in-depth study of your business activities to maximize the credit you can receive.

You may qualify for research and development tax credit if your company:

  • Designs new products
  • Improves existing products
  • Improves manufacturing processes through technology
  • Develops new formulas or techniques
  • Designs tools, fixtures, molds, or dies
  • Develops prototypes or models (including computer generated models)
  • Applies for patents
  • Tests new concepts or technology
  • Implements robotics or production control software
  • Streamlines or improves production or manufacturing processes to achieve higher standards in quality and productivity
  • Performs certification testing
  • Expends resources on outside consultants or contractors to conduct any of the above-stated activities

We invite you to contact us directly, or continue browsing our website to learn more about how we can help you.