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Updated almost 4 years ago,
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You may qualify for the R&D Tax Credit and not even know it!
Most people think of manufacturing when they hear the term "Research and Development (R&D) Tax Credit". However, real estate is one of many industries that can also benefit from the credit. Specifically if you are creating the design for a "green" building, a unique structure, designing your building to improve the structure's power efficiency, etc.
From years of helping companies claim the Research and Development Tax Credit, we estimate that less than ⅓ of companies realize they qualify for the credit.
Reasons range from lack of information to misperceptions about the tax incentive.
That’s why I’m so passionate about helping CPAs and business owners become educated about this credit.
Here just a few of the advantages of the credit:
1. They provide access to tax refunds (get cash now!).
2. The three-year lookback allows for retroactive benefits.
3. They enable you to invest more into innovation and passion projects in the future.
4. The analysis required to calculate the credit provides insight into how much time and money was invested into R&D, which can then be used to better organize time tracking and documentation to help claim higher amounts each year as those processes improve.
So many of us are constantly innovating - we just don’t realize it! How do you stay on the cutting edge of your industry? What new ideas are you working on?