Believe it or not, the R&D tax credit is the largest tax credit available for businesses. Don’t let the term “R&D” turn you off – this credit applies to companies like yours. It’s available to U.S. businesses of all sizes, big or small (or in between), and is a wage-based, dollar-for-dollar credit. Those in the technology industry – including systems integrators – may qualify to receive these lucrative tax savings.
Through the Protecting Americans from Tax Hikes (PATH) Act, the R&D tax credit now rewards more types of AV and systems integrators than ever before for their daily activities and technical staff. There is still time for you to capture an immediate tax benefit prior to your next estimated payment and/or filing deadline.
How do you know if your organization qualifies? Ask yourself: Do you do any of the following?
- Take steps to improve existing technologies
- Solve customer problems through scientific principles
- Make technical enhancements to your products or processes
- Do work to ensure that multiple technology systems can communicate with one another (enhancing the efficiency or security of a facility as a result)
- Ensure a quality AV experience or other common system integration experience
Whether technical work is done at a computer or on a jobsite, system integration companies can receive substantial financial rewards for doing the jobs they already do every day.
To help integrators take advantage of this often-overlooked tax credit, NSCA partnered last year with alliantgroup. The organization’s mission is to help American businesses take advantage of the federal and state tax credits, incentives, and deductions available.
“We spoke with the alliantgroup team, and they made it clear as to how our company is in fact eligible for the R&D tax credit,” says Bradford Caron, president at SIGNET Electronic Systems. “They showed us exactly how our operations qualify, and we were able to recognize the value that this tax credit would bring our company. We are extremely pleased with alliantgroup’s work and the credits we have received, and highly recommend them to any companies looking to claim the R&D tax credit – especially other NSCA members.”
In the last year, alliantgroup has helped NSCA members – integrators – uncover more than $16 million in tax savings.
Still not convinced that you qualify? Fill out this very short form to see if you do.
To speak with an alliantgroup expert, call 844-524-0077 or email Missy Waites, associate director of CPA alliance and industry partnerships at alliantgroup, at firstname.lastname@example.org.