R&D Case Study: Architecture and Engineering
Case Studies R&D Tax Credits for Architecture & Engineering A Comprehensive Source Advisors Case Study R&D Tax Credits for Architecture
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While it may not be immediately apparent, R&D plays a crucial role in advancing the methods and techniques used in metal fabrication. However, identifying and claiming R&D tax credits in this multifaceted industry can be intricate, involving detailed assessments of manufacturing processes and product designs.
With over 40 years of experience, this company specializes in metal fabrication techniques designed to mitigate metal fatigue and failure. Serving industries from aerospace and automotive to energy and defense, their extensive expertise has made them an industry leader.
In their four decades of operations, the company has focused primarily on R&D surrounding manufacturing processes. While they possess deep technical knowledge, they faced challenges in deciphering which activities qualified for R&D tax credits. Their work in stamping, molding, and tooling involved complex calculations, computer models, and multiple prototype iterations, all of which needed to be meticulously documented for claiming tax credits.
The company’s unique software platform required extensive research, development, and testing. Developed within an agile framework, the software had various aspects that qualified for R&D credits. This included everything from initial high-level architecture design to active development cycles, often referred to as “sprints.”
The company also engaged in rigorous validation processes, involving multiple departments to run newly developed modules through comprehensive testing phases. These activities were pivotal in refining the software and fell under the category of R&D as they led to technological advancements in the mortgage banking industry.
Source Advisors was introduced to this mortgage banking company through an industry contact. After conducting a preliminary assessment, we found that the firm had significant untapped potential for claiming R&D tax credits, particularly related to their software development activities.
Conducted an exhaustive evaluation of the firm's agile software development activities, identifying qualifying R&D tasks.
Estimated the financial implications of claiming R&D tax credits, showcasing the significant potential for cash flow improvement.
Assured that the company’s software development activities and associated documentation were in line with prevailing tax laws and regulations.
Source Advisors dives deep into a company’s structure and research activities to maximize both federal and state R&D tax credits.
Contact Source Advisors to turn your R&D investments into financial advantages.
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