Many businesses are unaware that they can qualify for federal and state R&D tax credits and/or current tax deduction treatment for their investment in developing tangible and intangible products and assets. Legislative and administrative changes have expanded the applicability of the R&D tax credit to allow more businesses to qualify for tax benefits and to monetize credits even if they do not pay federal income tax. Advanta’s technical experts can navigate your business’s circumstances and work with your engineers and developers to identify qualifying activity while striving to minimize interruptions to their development responsibilities.
The R&D tax credit is frequently overlooked or understated by taxpayers due to the challenges of determining qualifying research activities given the subjective nature of the qualifying elements. Further complications typically arise due to specific industry factors and unique business structures. Our comprehensive approach ensures that your business's activates receive full scrutiny and receives every tax benefit to which it is entitled through careful analysis of these expenditures and, where appropriate, re-characterizing them as deductions for tax purposes.
Advanta conquers these challenges with technical experts versed in areas such as engineering and software development and our deep knowledge and experience with the tax law. We apply our specialized knowledge to your business in order to understand the facts, apply the tax law, and deliver high-quality documentation that provides the support necessary to sustain the maximum available federal and state tax benefits. Our record in representing taxpayers in IRS examination and appeals cases is unsurpassed. Our audit-ready documentation and examination strategy supports quick settlements with the taxing authorities