You may have heard that the R&D tax credit is a particularly valuable one, which can get you up to $250,000 back in payroll taxes (and if you pay income taxes, that number is even higher). You may have also heard that applying for that credit is complex, time-consuming, and potentially risky for audits.

Both of these things are true. The R&D credit is valuable, especially in a challenging economic environment where every bit of runway counts. It also takes considerable effort to apply for, and can be daunting for young businesses. That’s why we put together a guide. 

The Comprehensive Guide to the R&D Tax Credit covers everything you need to know to get started:

• What it is. Why Congress enacted the credit, who it’s intended for, and how it helps them.
• How it works. What kind of activities qualify for the credit, with detailed examples of real-world scenarios.
• How to claim it. What you need to do, including which forms you need and why.
• Pitfalls to avoid. Common mistakes that companies make when applying for the R&D credit, and how to ensure you don’t make them too.
• Preparing for an audit. What the IRS will look for, and how to ensure you’re ready for any questions they might have.

The guide is free to download here, and as always, feel free to drop us a note with any questions.