Benefiting from a More Companies to Utilize the R&D Tax redit or 2010 “Pro-Business” Congress
More Companies to Utilize the R&D Tax Credit for 2010
Calling on the need for greater Innovation and R&D in the U.S., decidedly more “Pro-Business” Congress has taken some very positive legislative actions that will greatly benefit U.S.-based manufacturers. One area that is set to benefit more companies and its shareholders is the Research and Development (R&D) Tax Credit.
With tax time upon us, now is the time to evaluate whether the R&D Tax Credit warrants a look, or re-look, and if you can drop additional cash to your company’s bottom line!
As an incentive for companies to innovate, implement automation and technology, and take the steps necessary to compete more effectively on a global basis, the R&D Tax Credit was extended for two years – retroactive to January 1, 2010 and through December 31, 2011 – as part of the Tax Extenders Package signed by President Obama in November 2010. Yet, because of the specialized nature of the R&D Tax Credit, companies often mistakenly believe that they do not qualify or they do not get the advice that they do qualify.