February’s Preferred Business Partner, HighPeak Advisors, is a national, full-service tax credit firm that specializes in helping innovative companies across the United States take advantage of powerful tax savings every year with the R&D tax credit.
The R&D tax credit can be a valuable source of capital for companies in a variety of industries, including manufacturing, engineering, architecture, and software. Unfortunately, most companies are unaware of the incentives or have misconceptions on what makes a company eligible, and miss out on the tax credits they deserve. All companies investing in developing new products/processes or improving existing ones can benefit from R&D tax credits. There is a wide range of activities that qualify as “research and development,” which can result in a significant tax credit.
Examples of qualified activities
- Tooling and equipment fixture design and development
- Computer-aided design (CAD) and computer-aided engineering (CAE)
- Electrical and plumbing systems design for efficient power usage
- Designing and developing software applications
What is the R&D Credit?
The R&D Tax Credit is a federal business tax credit under IRS section 41. Over 30 states offer a separate state credit. This is a labor-based credit that is mainly generated by the wages you pay your W2 employees, and fees paid to subcontractors (must be located in the US). Additionally, a portion of your costs of supplies and prototypes can be captured to generate more credits. This is a great benefit to companies in all applicable industries.
We’re a different kind of tax credit firm. We understand your concerns regarding time cost, audit risk and cash flow. Working with HighPeak means minimal time investment on your part, detailed and defendable tax credit studies, and a team that understands cash flow.
About HighPeak Advisors
Our clients are located across the United States, and range from three-person startups to 500-person corporations. We understand the concerns regarding time cost, audit risk, and cash flow. We’ve developed thorough, transparent, and painless processes to maximize our clients’ benefits while minimizing their time investment. Our in-depth study reports back up the credits we find you, but we also provide audit defense to all of our clients, for no additional fee.
Learn how the R&D tax credit works in your industry
If your company is developing new products, processes or software, or improving products, processes or software, then you could qualify for a federal and state tax credit. Select an industry to see more information and examples related to that industry.
See if you qualify
Our free analysis will give you an idea of how the R&D Tax Credit can benefit your company. To learn about the credits you may be entitled to, schedule a complimentary online analysis at www.highpeakaz.com or call (480) 948-1063.
The Council’s Preferred Business Partners program provides significant discounts on the products and services technology businesses need most. Don’t waste valuable time collecting quotes around town—we’ve done that for you. Visit here to see the partner companies that provide high-quality products and services with highly reduced prices solely for AZTC members. Learn more about the program and all the benefits offered to AZTC members.