R+E Study Benefits
The benefit of a research and experimentation study may uncover significant opportunities for reduction in what you pay in federal and state taxes. Additionally, you may also be eligible for refunds of federal taxes for the recent year and also prior years that remain open to the filing of amended returns, plus the interest that may have accrued.
Herbein + Company, Inc. has worked with companies throughout the United States on unique R+E credit engagements. Based on an average of the studies we have completed, the benefit to the companies exceeded $100,000.
Costs that Qualify
There are different costs that qualify for the credit calculation. Wages, supply costs, outside consulting and computer programming costs in the development of a new process or product can qualify. These are all the costs incurred up until the time the product or process is ready for commercial production.