In the Architecture & Engineering industry, R&D is a cornerstone of innovation. Yet, understanding and claiming R&D tax credits can be a labyrinth. This detailed case study unpacks how Source Advisors navigated these complexities to secure substantial financial benefits for a structural engineering firm.
Founded in 1994, this $6M U.S.-based company is a pioneer in designing and manufacturing nuclear calibration equipment. They serve a myriad of applications including irradiator calibration systems, radiation shielding, research irradiators, and X-ray inspection systems.
Due to the highly specialized nature of their work, every project demands meticulous research and development. Engineering precision is imperative, and the complexity rises further with the need to stay abreast of legal and regulatory changes in a critical sector.
The company’s R&D is a complex, multi-faceted endeavor. From prototyping to system designing, each detail is precisely engineered, often requiring the development of entirely new approaches and technologies.
Recommended by their CPA who had previous experience with our expertise, the company needed a specialist in R&D tax credits.
We carried out a review of the company’s intricate R&D activities, from prototype development to final product manufacturing, to identify all qualifying expenditures.
Our financial experts went through the company’s fiscal records, covering all potential R&D-related costs to calculate the tax credits they were eligible to claim.
With the ever-changing legal landscape in this specialized field, we ensured that all identified R&D activities met federal and state criteria for R&D tax credits, making the claims both compliant and audit-proof.
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.
What is a 481(a) Adjustment? A 481(a) adjustment is required in order to prevent duplication or omission of income or deductions when