What is an R&D Study?
A research & development study is a document that records your business expenses that qualify for the Federal R&D Credit. The R&D Credit is a federal income tax credit that allows companies to get cash back for innovative R&D completed in the U.S. A study can be thought of as cheap insurance for your R&D credit claim in case the IRS ever performs an audit, saving you from having to pay back the credit plus penalties.
Do I really NEED an R&D Study?
Claiming an R&D tax credit doesn’t require a study; however you’ll want a study performed in order to defend against an IRS audit. This will save you money and a headache in the future after claiming.
What business costs qualify for R&D credit?
To qualify for the R&D Credit, only specific expenses such as direct payroll, contractor fees, computer rentals, and research-related supplies can be considered qualifying expenses. An accurate and compliant R&D study is crucial to validate your claim with the IRS, ensuring eligibility and maximizing your credit.
Why should I choose Accountalent for my R&D Study?
Accountalent has helped thousands of startups claim a combined $100M+ in refundable R&D Credits. Our specialized software helps us conduct our R&D Studies at a fraction of the cost of other firms, while also ensuring they are compliant with IRS guidelines.
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