Case Study #5 | Research & Development Tax Credit | Technology/Payment Processing Company
Research & Development Tax Credit
Technology/Payment Processing Company
Overview
The client is a technology company that develops payment
Challenge
The company’s significant investments in technology, personnel, sales, and marketing activity were incremental, and it did not have the internal resources to research available government incentives. Every time the company tried to take the time to identify government programs, there were other projects that demanded priority.
Solution
Economic Incentives Advisory Group (EIAG) met with the leadership group of the organization. It was quickly determined that there were figures of tax refunds available to the client. Key personnel were interviewed and prior expenses were identified that qualified for federal and state tax credits.
Results
The client was able to receive a very significant refund check. Additionally, a process was created to efficiently track future qualified expenses so that the company could continue to receive the economic benefit from this program. The company’s profitability has improved as a result of claiming this credit.