ETaxBreaks Launches R&D Tax Credit Division to Find and Identify R&D Tax Credit Opportunities For Small Businesses Owners



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ETaxBreaks Launches R&D Tax Credit Division to Find and Identify R&D Tax Credit Opportunities For Small Businesses Owners 


ETaxBreaks,​​ a leader in the tax credit industry, announced today the launch of a Research & Development Tax Credit Division to helpsmall and medium-sized businesses find and identify one of the largest annual tax credits available to U.S. companies. 

“The R&D Tax Credit is much more expansive than most businesses owners realize. If your business is improving their products and processes, you qualify, ETaxBreaks can help you take advantage of this lucrative credit,” said Shannon Scott, co-founder and Chief Growth Officer of ETaxBreaks.

Introduced as a way to incentivize companies to keep high-paying jobs in the US, the Research & Development Tax Credit (R&D Tax Credit) program is a federal benefit that provides companies dollar-for-dollar cash savings for performing activities related to the development, design, or improvement of products, processes, formulas, or software. The R&D credit originally only applied to a few highly technical companies. When it was made permanent in 2015, the definition of the credit has expanded, allowing a wider range of businesses and industries to qualify for this significant valuable federal tax credit. 

"Most companies don’t realize how lucrative these credits can be. We have had great success processing federal hiring, geographic, disaster, and covid credits for our clients, and the R&D credit division is just another arrow in the ETaxBreaks quiver that keep us at the forefront of increasing cash flow for small and midsize businesses across the United States," said Scott. 

ETaxBreak’s tax lawyers and accountants determine if a business qualifies for these credits and provides them with the documentation to claim the tax incentives which can be $30,000 to $400,000 in tax credits . Often the credits come as a cash refund and can be  enough to offset an entire tax liability. Unused credits can carry back to the previous year or forward for the next 20 years. 

Could My Company be Eligible for the R&D Tax Credit?

Eligibility for the R&D Tax Credit is more extensive than most companies realize. Your business could qualify if it is improving products, processes, or technologies, even internally. Companies that may not consider themselves innovative might be surprised to learn that they may qualify for the R&D Tax Credit when they look over the four-part test that determines


The Four-Part Test:

● Qualified purpose: Development undertaken to create new or improved business

components. These business components could be products, software, techniques,

processes, or formulas.

● Elimination of uncertainty: Your company has to demonstrate that it tried to learn

something new about the product being changed and that the product or process could

not be improved without the research conducted.

● Process of Experimentation: Your company has to prove that it undertook different

research alternatives to achieve the desired result. For example, trying different

technologies, methodologies, and simulations.

● Technological in Nature: Companies must be involved in the experimentation of the hard

sciences such as engineering, physics, chemistry, biology, or computer science.

How Can My Business Take Advantage of The R&D Credit?

While the payoff is more than worth it, applying for the R&D Tax Credit is complicated and time-consuming. Most CPAs are not familiar with the ins and outs of tax credits and will often underestimate and overlook qualifying activities that would result in thousands to your business’ credit. With over twenty years of experience, the tax experts at ETaxBreaks are seasoned veterans at qualifying your business for every possible dollar. ETaxBreaks has supported over 350 businesses across the country qualify for $1.5 Billion in tax credits and business incentives with $0 returned to the IRS.