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R&D Tax Credits Explained
- 1. RESEARCH & DEVELOPMENT TAX CREDITS what are R&D tax credits? Apex Advisors is a tax advisory firm specializing in Research & Development Tax Credits. Based in downtown Los Angeles, Apex has successfully reduced the tax exposure and lowered the cost of indirect expenses for thousands of clients nationwide. (213) 487-3333 info@apexadvisorsus.com 3460 Wilshire Boulevard, Suite 900 Los Angeles, California 90010 The Research & Development Tax Credit is one of the most under-utilized tax benefits available. Approximately $12 billion in tax credits are provided by the IRS every year, but only an estimated 12,000 companies are utilizing this benefit. The value of these credits are equal to 20 percent of qualified expenditures. However, since tax credits are provided on a dollar-for-dollar basis, the true value of these credits is essentially three times a standard deduction. who qualifies? The number and types of businesses that qualify for R&D Tax Credits is surprising. Engineering firms, pharmaceuticals, electronics and software developers are obvious choices for R&D, but you might not realize that many types of manufacturers – medical devices, packaging, plastics, even apparel – also qualify for R&D activities. New rules allow for contract manufacturers to qualify as well. how do I find out the size of my tax credit? Apex Advisors will provide you with a Tax Credit Analysis at no cost. We will analyze your tax returns and present you with an estimated tax credit range. R&D Tax Credits are retroactive for up to three years prior, and the majority of states have R&D credits that are in addition to your federal credits. That means your first year of tax credits can easily double or triple your current R&D budget. $12 billion The estimated amount of R&D tax credits that the IRS provided to US businesses in 2013. 20112009200720052003 $9B $7B $5B $3B $1B A wide array of industries are eligibile for R&D Tax Credits, but it is still heavily under-utilized. Industries Equipment & Component Manufacturing Chemicals & Pharmaceuticals Computer Systems Design Computer & Electronics Manufacturing Other Non- Manufacturing Other Manufacturing Scientific R&D WWW.APEXADVISORSUS.COM | (213) 487-3333 | APEX ADVISORS
- 2. APEX ADVISORS | focus on innovation, growth & you we are R&D tax credit specialists We have a staff of more than 50 professionals who are multifaceted in diverse areas such as accounting, tax law, engineering and bio technology. Former IRS agents head our compliance and audit defense teams. The firm founders are alumni of Ernst & Young and Deloitte (and USC, fight on). We stand ready to serve your company year after year, from data gathering to final documentation. our process Your business is special because of the hard work, ingenuity and passion you put into it. And that’s how we feel about our work as well. Our tax credit study process is designed to maximize the value of your credit through an in-depth understanding of how you operate in order to discover even the most obscure places where R&D activities occur. your success R&D Tax Credits are really about you. You are the one taking the risks, investing your hard-earned money into being innovative and marching to the beat of your own drum. Our job is to ensure that you’re maximizing your opportunity for success. Because in order to compete in today’s global marketplace, every last (tax) dollar counts. INITIAL ESTIMATE FIELD STUDY REVIEW QRE EVALUATION FINDINGS REVIEW TAX RETURN FILING TECHNICAL REPORT AUDIT DEFENSE (213) 487-3333 info@apexadvisorsus.com 3460 Wilshire Boulevard, Suite 900 Los Angeles, California 90010 www.apexadvisorsus.com WWW.APEXADVISORSUS.COM | (213) 487-3333 | APEX ADVISORS Joe Park Business Development Director (213) 487-3333 x117 office (866) 720-0629 fax joe@apexadvisorsus.com