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Research and Development Tax Credits
A significant tax savings opportunity exists under current IRS tax law that provides for substantial tax credits for certain qualified research and development activities. If your company has been involved in any of the following activities, you may be eligible to claim research and development tax credits:
• Designing, developing or formulating new or improved products
• Pursuing production process improvements
• Developing or applying for patents
• Developing software for internal use or for sale to customers
• Designing and constructing tooling or fixtures
• New facilities designing, development and construction
• Assisting customers with technical problem-solving
The research and development tax credit is a dollar for dollar tax credit offset against your taxes. Your company can recover substantial overpayment of taxes for the prior three years and reduce taxes in current and future years.
Identifying “what” qualifies for such credits isn’t always easy and at ARS we can help you find and support the qualifying activities that will improve your cash flow by identifying tax saving opportunities that will qualify for research and development tax credits.
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The Dooley Building, 5434 King Avenue, Rt.38 East, Suite 200, Pennsauken, NJ 08109-1197
903 Bryn Mawr Avenue, Suite 100, Penn Valley, PA 19072
phone.856.488.8860 - fax.856.488.8863 - info@advancedrecoveryservice.com
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