The mortgage banking industry has gradually increased its reliance on software development over the past decade. The fragmentation of platforms and services vital for loan origination, servicing, and financing has necessitated these companies to develop their own software solutions. In response to this trend, the research and development tax credit has emerged as a key aspect of tax planning and strategy within the industry.
This tax incentive allows companies to recoup significant amounts, often in the hundreds of thousands of dollars, on expenses they have already incurred. Therefore, the R&D tax credit serves not just as an innovation catalyst but also as a valuable financial recovery tool for the mortgage banking industry.
Given this firm's growth and continued innovation, they now recognize an annual crddit of about $200,000.
With more than 20 years of experience offering a variety of cutting edge loan products, this mortgage banking company has become one of the most respected mortgage bankers in their industry.
With branches and loan officers nationwide, they are able to originate, underwrite, close, and fund loans utilizing proprietary financial software.
The R&D tax credit can help a wide variety of businesses offset and reduce their income tax liability, in addition to providing many other benefits. Our team of experienced CPAs, attorneys, engineers, and technology experts helps companies save money and create cash flow with R&D tax credits that can then help drive overall growth.