Research & Development Credit

Research and Development Tax Credits:

In 2001, as an economic investment incentive, the Federal Government expanded the R&D Tax Credit laws which allowed small to mid size businesses to recoup a portion of their business expenses for activities related to business and product improvement.

The R&D tax credit is for taxpayers of any size that design, develop or improve products, processes, techniques, formulas or software. It is calculated on the basis of increases in research activities and expenditures. R&D tax credits allows for business to be rewarded not simply for the final product, but all the changes, variations, and experiments involved in getting to their final result. Fortunately, BFBA has developed a vast knowledge base across dozens of industry sectors. Targeting mid-market companies, we leverage our experience to maximize the R&D Tax Credit in a way that is fully compliant with the current tax regulations.

Does Your Company Qualify?

If your company has invested in the development of a new or improved business component then you may have qualifying research expenditures under the Federal R&D Tax Credit program.

Activities that qualify:

This definition is relatively broad and encompasses such activities as:

  • Developing new or improved products, processes or formulas;
  • Developing prototypes or models;
  • Developing or applying for patents;
  • Developing or improving production or manufacturing processes;
  • Developing or improving software technologies;
  • Certification testing;
  • Developing new technology;
  • Environmental testing;
  • Use of Third Party Contractors;
  • Building or improving manufacturing facilities; and
  • Streamlining internal processes

Industries Served:

  • Agriculture
  • Apparel and Textiles
  • Architecture
  • Chemical
  • Civil Engineering
  • Construction
  • Electronics & Technology
  • Electrical Contracting
  • Electrical Engineering
  • Engineering
  • Food & Consumer Packaged Goods
  • Manufacturing
  • Mechanical Contracting
  • Mechanical Engineering
  • Metals
  • Plastics
  • Printing
  • Oil & Gas
  • Software
  • Structural Engineering