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Grow Your Business With
R&D Tax Credits -
Keep More Of What You Earn
Take advantage of the billions of dollars of R&D Tax Credits the US Gov't gives annually - these are strategies typically reserved for large corporations - now you can benefit too!
- We do the heavy lifting to see if you qualify
- Everything we do is strictly confidential
- If we can’t save you money (which is rare), we will explore 1,500 IRS programs and recommend customized tax saving solutions for your business
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Frequently Asked Questions
What is the R&D Tax Credit?
A federal dollar-for-dollar reduction of income (or payroll) tax liabilities for US-based businesses involved in innovation, science or technology.
Does my company qualify for the R&D Tax Credit?
Businesses of any size in a variety of industries qualify for the R&D Tax Credit. The only requirements are that the have projects that satisfy the 4-part test and incur qualified research expenses (wages, contractors, supplies/materials) in a given year.
What expenses qualify for the R&D Tax Credit?
Qualified R&D expenses may include taxable wages; guaranteed payments; US contractors, subcontractors and vendors; supplies and materials used during prototyping or testing; and computer rental and cloud storage costs.
What can the R&D Tax Credit be used for?
The tax credits can be used to offset current or future income tax liabilities. For companies filing amended, prior-year returns in which income tax was paid, the IRS issues a cash refund. For startups with no tax liability, the tax credit can be used to offset payroll taxes.
Which states offer R&D Tax Credits?
36 states currently offer a State R&D Tax Credit.
How much can I expect to get in R&D Tax Credits every year?
The amount your company can expect to receive is directly related to:
- The amount of qualified research expenses you can claim, and
- The benefits available in the state in which your business operates.
How does EFI calculate the Federal and State R&D Tax Credit?
Our tax experts gather financial documentation, analyze expenses, conduct technical interviews, calculate the amount of the tax credit, and deliver the completed IRS Form 6765 and applicable State forms to the business owner and their CPA.
Can startups that are/were in losses benefit?
Yes. For qualified small businesses (QSBs) the current year Federal R&D Tax Credit can be used to offset future payroll taxes owed to the IRS. So, if qualified, EFI will assist to amend and file quarterly 941 reports, saving you money immediately.
Can my company’s chances of audit increase?
No. If the R&D Tax Credits are accurately and properly claimed on a timely-filed tax return, there is no increased chance of audit. Amending a prior-year tax return to claim R&D Tax Credits does increase your audit chances.
My company does not have a dedicated research center or laboratory. Can I still claim R&D Tax Credits for my expenses?
Companies in a range of industries have received significant tax benefits through the R&D Tax Credit. These include but are not limited to manufacturing, software, technology, engineering, architecture, food & beverage, aerospace and pharmaceutical companies.
Can the R&D Tax Credit be claimed for a prior year?
Yes. Federal tax returns can be amended to claim the credit for 3 years prior to the current tax year. Right now, we can refile 2020, 2021 and 2022 returns and impact 2023 through quarterly 941 filings. Get money back and save money going forward.
Which activities are excluded?
Activities relate to the arts, soft sciences, sales, marketing, general and administrative, training, market research, funded research, or research conducted outside of the US do not qualify for the R&D Tax Credit.
Take Advantage Of Instruments & Strategies Typically Reserved For The “Big Guys.”
You could have money waiting for you that you'd never know about unless you reach out!
Client Success Stories
Client #1 (Anonymous)
Saved $100,000+ over two years of tax returns with R&D Tax Credits
Client #2 (Anonymous)
Saved $20,000+ that they never would have known about if they hadn't contacted EFI.
Client #3 (Anonymous)
"I have the confidence of having world-class CPA's on my team! With EFI, I only pay if they save me money - and they saved me a lot of money!
Why The Endeavor Financial Insights Team is Different
Mission: To help small businesses keep more of what they earn.
- Leveling the playing field.
- Taking advantage of strategies typically reserved for large corporations.
- Staying true to our value of delivering world-class service.
Ready To See How Much You Could Save With R&D Tax Credits?
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