R&D Tax Credits Are a Great Way to Save Money


If you are in the pharmaceutical, financial services, or software industry, you already know how important your research and development division is. After all, this is the department that enables your business to grow and thrive, so it is perhaps one of the most important departments you have. In fact, your R&D department can even save you money on your taxes if you take advantage of the R&D tax credits that are now available. Regardless of how much money a business makes, most of them are still interested in saving money whenever possible, and tax credits are a great way to do so. A good financial planner can give you the information you need to take advantage of these credits, and will work hard to get you started in this endeavour.

Saving Money Is Always a Good Thing

Many industries can save money when utilising R&D tax credits, including engineering, electronics, construction, food and drink, energy, and many others. An experienced financial planner can ascertain your business’s functions and goals, and then recommend what you should do next. Part of the process includes analysing your activities, the specific functions of your staff, the size of your company, and whether or not you engage in third-party companies to perform your R&D activities. Taken together, financial planners can help you take full advantage of your R&D tax credits so your business can save money as well as prosper.

They Are the Experts

R&D tax credits are not necessarily complex, but if you wish to take advantage of them, the best thing to do is consult with a financial planner who is experienced in this area. Many of them have websites that include an R and D tax calculator, which allows you to estimate how much money you can save. These and other tools allow them to help you make the right decisions so that in the end, your business will save money on its yearly taxes. The calculators are part of an online assessment where they calculate and then send the results to you via email so you can have all the information you need in writing. Since saving money is important to everyone and these assessments are free, it behooves you to go to these websites so you can start saving money sooner rather than later.

If you are curious about R&D tax credits or have already decided you want to utilise them, financial planners are there to assist you. They can help you figure out what you need to do to qualify for the credits, how much the claims’ amounts can be for, and any other factors that may affect your claim, such as work with subcontractors. These experts can help you through the process, educate you on what to expect after your claim is filed, and answer any questions you may have at the beginning of this process. Financial experts do all this and more so you can claim what is rightfully yours and therefore grow your business in the future.