By Jeff Bronswick, Managing Partner of Bronswick Reicin Pollack, Ltd., CPAs

Did you know that you can claim a tax credit for expenses incurred in the development of new, improved and more reliable products, processes and formulas?

This often overlooked incentive is available to new and long-established businesses and for new and expanding research and development with new simplifications and benefits. The credit is equal to 20% of eligible expenditures in excess of a base amount and has been increased for businesses that acquire other companies.

Contact your BRP professional if you believe your company may qualify.

Disclaimer: The information contained in this Blog (the “Blog”) is intended solely to provide general guidance on matters of interest for the personal use of the reader, who accepts full responsibility for its use. In no event will BRP, or its partners, employees or agents, be liable to you or anyone else for any decision made or action taken in reliance on the information in this Blog or for any consequential, special or similar damages, even if advised of the possibility of such damages.

 

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