R&D Tax Credits for Architectural & Engineering
What is the R&D Tax Credit for Architectural & Engineering?
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The R&D tax credit for Architectural & Engineering is a unique tax incentive that benefits businesses involved in developing or improving products, processes, or services within the industry. This credit significantly reduces your federal tax liability, providing immediate capital for your projects. You can also retroactively claim R&D tax credits for up to 3 or 4 years for past work.
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Many Architectural & Engineering businesses may be eligible for R&D tax credits without realizing it. Does your business qualify for this credit? The IRS has established four guidelines to help businesses determine their eligibility:
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1. Does your business develop or improve upon products, businesses, or services?
2. Does your business systematically evaluate one or more alternatives during the process of experimentation?
3. Does your business attempt to solve a technical uncertainty?
4. Does your business fundamentally rely upon established principles of science?
If you answered yes to these 4 questions, you may be eligible to claim these beneficial R&D tax credits for Architectural & Engineering business. Proveres is here to help you figure out the details.
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What can the R&D Tax Credits do for Architectural & Engineering businesses?
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Reduce your payroll taxes
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Use as non-dilutive funding
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Carry your credit forward
How It Works
Proveres will work closely with your business to gain maximum tax credits each year by following these 5 steps:
Identify & Discover
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​Proveres provides a full analysis of your business and operations, and will help identify which projects and work your business does that can be claimed towards the R&D tax credit.
Quantify​
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Proveres reviews expense-related data from your business and identifies what will qualify for the R&D tax credit.
Qualify​
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Proveres gathers relevant information and documentation into the qualifications for each R&D tax credit claim.
Validate & Support​
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When the credits to be claimed have been calculated and validated, Proveres assists your business to facilitate a smooth tax filing process.
Annual Reviews to Maximize Credits​
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In addition to discovering existing R&D tax credits your Architectural & Engineering business qualifies for, Proveres also helps your business identify and implement procedural changes to unlock future R&D tax credits.
Some examples include, but are not limited to research, development, design, experimentation, or testing of any of the following categories:
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Developing new materials for products or new construction materials
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Developing new building components
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Testing new materials effectiveness
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CAD Modeling
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Conceptual design and development
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Creating prototypes
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Creating blueprints
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Creating diagrams
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Testing and analysis
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Determining proper materials and energy efficiency when designing new buildings
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Developing alternate structural designs when trying to improve a business component
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Research and development focused on creating sustainable and energy-efficient solutions
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Green building technologies
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Developing energy-efficient HVAC systems
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Developing renewable energy integration
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Developing proprietary software to assist with design, modeling, simulation, or data analysis
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Investments in improving architectural and engineering processes, such as project management, design workflow, or quality control
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Developing and testing innovative methods to meet or exceed building codes and regulatory requirements while improving construction techniques
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Research and development aimed at making buildings more environmentally friendly, safe, and resilient to natural disasters
To learn more about the R&D Tax Credit for Architectural & Engineering, and whether your business qualifies, please contact us.