The R&D credit: Are you leaving tax dollars on the table?
Abstract: Federal and state research credits (often referred to as the “research and development,” “R&D” or “research and experimentation” credit) are among the most valuable tax incentives available today. But many businesses overlook these tax breaks because they mistakenly believe that they don’t qualify or wouldn’t benefit. In recent years, federal legislation has expanded the availability of the credit for many businesses. This article details the R&D credit and explains which companies are eligible for it. A sidebar explores how the Tax Cuts and Jobs Act changed research and development expensing.