Tax Attorney R&D Credit Guidance
At LS Carlson Law, our experienced tax attorneys can assist you with the Research and Development (R&D) Tax Credit, also known as the Research and Experimentation (R&E) tax credit. This federal benefit, established under 26 U.S. Code §41, provides a valuable opportunity for businesses engaged in the development, design, or enhancement of products, processes, formulas, or software. Our dedicated team is well-versed in the complexities of this credit and is committed to helping companies leverage it effectively. The R&D Tax Credit, introduced in 1981 to foster innovation and domestic development, extends its advantages to a wide range of industries, including but not limited to aerospace, agriculture, software development, and manufacturing.
By partnering with LS Carlson Law, you gain access to numerous potential benefits. These advantages encompass the ability to receive up to 12-16 cents of federal and state R&D tax credits for every qualified dollar spent on eligible activities. Furthermore, these credits translate into a dollar-for-dollar reduction in your federal and state income tax liability, enhancing your cash flow and potentially increasing your earnings-per-share. Additionally, our experience allows you to carry forward the credit for up to 20 years, and we can perform look-back studies to uncover unclaimed credits for open tax years, typically extending back three or four years. For certain startup companies, we can even help you apply the federal R&D tax credit against payroll taxes, making it an invaluable tool for fostering growth and innovation. Contact us today, and let us help you make the most of the R&D Tax Credit for your business.
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A Professional Strike Force for Your Tax Matters
LS Carlson Law is comprised of battle-tested, highly skilled lawyers who operate with a single objective – to win. We prioritize efficiency and innovative strategies, and in doing so, have waged war on the “old way of doing things.”