From developing automation software to engineering custom fixtures, R&D in electronics manufacturing is anything but simple. Dive into this case study to discover how Source Advisors helped a seasoned electronics manufacturer claim substantial R&D tax credits.
With over 30 years of industry experience and a dynamic team of 70+ employees, this electronics manufacturer provides a full range of services, from material evaluation and procurement to cable and wire harness production, printed circuit board (PCB) population, and complete electromechanical assemblies.
Managing diverse projects for a wide-ranging customer base necessitates continuous innovation. Each project presents its own set of R&D challenges, whether it’s developing automation software or creating custom-engineered fixtures for specific manufacturing components.
Key qualifying activities included the development of automation software for component storage and delivery systems, as well as the design and testing of custom-engineered fixtures for precision manufacturing. Both involved multiple design iterations, material selections, and functionality tests.
Source Advisors took a deep dive into the company’s varied R&D activities.
Our team conducted an in-depth review of the company’s varied R&D activities, examining the complexity, required skill sets, and associated costs involved.
We scrutinized financial records, looking at labor costs, material expenditures, and other overheads. Based on this, we calculated the potential tax credits that the company could realize.
The R&D activities identified were thoroughly checked against federal and state tax laws. We ensured that all supporting documentation met the criteria necessary for claiming R&D tax credits, making them audit-proof.
Don’t let potential R&D tax credits go unclaimed. Your next innovation might just be waiting for that financial push.
Contact Source Advisors today to explore how we can unlock tax advantages for your company.