IRS regulations finalized in 2003 make it significantly easier for more companies to qualify for the Research & Development Tax Credit. Record keeping requirements have been liberalized. The discovery test relating to new information has been significantly eased. Process improvements are now included as a qualified activity.
WHO QUALIFIES FOR THE CREDIT?
A Company Qualifies When One or More of These Criteria Are Met:
SOME EXAMPLES OF THE BENEFITS OF R&D TAX CREDIT STUDIES
| Industry Type | Gross Sales |
Total Benefit Received |
| Plastic - Blow Moulder | $49,000,000.00 |
$283,000.00 |
| Metal Fabrication | $42,000,000.00 |
$704,000.00 |
| Plastic Consumer Products | $20,000,000.00 |
$184,000.00 |
| Equipment Manufacturer | $24,000,000.00 |
$356,000.00 |
| Instrument Manufacturer | $8,000,000.00 |
$156,000.00 |
| Consumer Products Manufacturer | $16,000,000.00 |
$136,000.00 |
WHY CHOOSE SourceCorp?
Maximized Benefit
We ensure the federal and state benefit is maximized. Our R&D and technical expertise and your support allows us to accurately plan for your short- and long-term ability to maximize the federal and state credit.
Longevity
SourceCorp has a 23-year proven track record for service and support.
Lessened Audit Risk
IRS requires contemporaneous documentation to support the credit claim. SourceCorp’s R&D study methodology will achieve IRS requirements for credit claims. We will provide free support of the study in the event of an audit.
Quantified Benefit
A pre-engagement visit to the facility ensures the estimated benefit analysis is realistic.
Fixed-Fee Billing
Our fees are straightforward and are based on an accurate pre-engagement analysis of the business -- No "contingent-based" or "success-based" billing schemes.
Non-CPA Firm
We are a tax consulting practice specializing in tax areas requiring significant engineering and technology expertise.
