Case Studies

R&D Tax Credits for a Candy Packaging Manufacturer

A Comprehensive Source Advisors Case Study

R&D Tax Credits for a Candy Packaging Manufacturer

When you think of R&D tax credits, breweries may not be the first thing that comes to mind. But dive into this case study to learn how Source Advisors uncovered a goldmine of tax benefits for a flourishing craft brewery engaged in unique R&D activities.

What Qualified as R&D?

In the case of this specialty-packaging manufacturer, R&D activities revolved around the creation of a unique gumball container that was both functional and had play value for children. The efforts included material selection, design testing, and safety evaluations. Each phase involved multiple iterations and experiments to ensure the container was easy to manufacture, safe for children, and met all storage and shipping requirements.

The Source Advisors Solution

Before diving into the project, Source Advisors conducted a preliminary feasibility analysis to set potential credit expectations and explain the process. This was crucial for the packaging company in choosing us over other providers.

Services Delivered

Detailed Analysis

We examined the specific challenges related to the design of the gumball container. Our evaluation focused on the complexity of the design, material selection, and testing for safety and functionality.

Financial Impact Assessment

Our team reviewed financial records, including but not limited to, costs related to labor, supplies, ingredients, and overheads. We then calculated the potential tax credits that the manufacturer could claim based on these expenditures, ensuring they wouldn't miss out on any benefits.

Compliance Checks

The identified R&D activities were cross-verified against federal and state tax laws to ensure they met the necessary legal criteria for claiming R&D tax credits. This not only included the qualifications of the activities themselves but also reviewed the supporting documentation and justifications to ensure they were compliant and audit-proof.

The Results Speak for Themselves

After the completion of the comprehensive study, Source Advisors identified R&D tax credit opportunities that resulted in:

$ 0
in R&D tax credits

These savings were instrumental in allowing the company to further invest in R&D and expand its market offerings.

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Don’t miss out on the valuable tax credits that could boost your businesses growth.

Contact Source Advisors today to explore how we can unlock tax advantages for your food or beverage company.

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