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R&D Tax Credit Expertise

Verax Law staff has over 20 years of experience with the Research and Development Tax Credit. Our staff is able to assist clients that have never completed an R&D study or clients that are looking to optimize their current R&D fillings. Verax Law is able to assist with both state and federal R&D matters.

Free Consultation

State | Federal

Contact Verax Law for your free assessment on the benefits of the R&D tax credit for your business.

R&D Tax Credit

What is it?

The R&D tax credit is available to many types of business and delivers an immediate and significant benefit for undertaking innovative activities. Many of the everyday activities of businesses in various sectors qualify for this powerful tax credit. The R&D tax credit can immediately benefit a business by providing a significant source of cash and reduction in tax liabilities.

Opportunity

Minimize your tax liability

According to the IRS, each year less than 33% of companies that have eligible R&D expenses actually apply for the credit. The R&D tax credit represents cash back for reinvestment or other needs, creating a significant competitive business advantage. Many states also offer R&D tax credits.

Qualifying Activities

Simple four-part test

R&D tax credit eligibility largely depends on whether the work you are conducting meets the criteria established by the IRS in its four-part test: 1.Qualified Purpose; 2. Elimination of Uncertainty; 3. Technological in Nature; 4. Process of Experimentation.

Claiming Your Credit

We can recommend a tax professional

Verax Law does not provide accounting services. A qualified tax professional can help you calculate and claim all of your eligible R&D tax credits. Federal and state filing requirements vary, so be sure to work with your accountant on supplying the required documentation to each government entity.

R&D Tax Credit Updates Blog

R&D Tax Credits for Software and Website Development

Software and website development are often overlooked areas when it comes to R&D tax credit analysis. However, the R&D tax

Gaining a Competitive Advantage With The R&D Tax Credit

If your company is operating at a 20% profit margin you must manufacture and/or sell $500K worth of merchandise in order to

R&D Tax Credits are for More Than Just R&D

Can you Benefit From the R&D Tax Credit? It is likely that each year millions of dollars in R&D tax

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