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Take Advantage of the R&D Tax Credit
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Saturday, March 01, 2008
Black Line Group, Plymouth, MN, specializes in helping companies take advantage of the R&D Tax Credit, an underutilized part of the tax code. Black Line Group is not an accounting firm, and has assisted a significant number of metal manufacturers in benefitting from this opportunity.
Because of its specialized nature, large numbers of small and mid-sized manufacturers do not take advantage of the credit. The definition of research and development (R&D) is much broader than people think, according to company officials.
The R&D Tax Credit can create immediate and substantial amounts of cash, minimally into the many tens of thousands of dollars, and usually $100,000 or more. In addition, companies can reduce future tax liabilities and improve cash flow.
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