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R&D Credits
Shepherd Tax Solutions is able to educate your clients about the R&D tax credit and its potential benefits for their company. This includes helping them understand the qualifying activities such as developing new products, processes, or software enhancements.
By using Shepherd, clients are able to collaborate with tax experts who specialize in R&D credits to assess eligibility, document eligible expenses, and ensure compliance with IRS regulations. R&D empowers businesses to claim substantial tax savings, reinvest in research initiatives, and enhance their competitive edge.
This support not only optimizes financial outcomes but also fosters a culture of innovation within your clients' organizations, driving long-term growth and success.
5 Steps for R&D Success
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01
Business Component
Creating new or improved products, processes, software, formulas, inventions, or techniques.
02
Technological in Nature
This criterion focuses on the nature of the research activities and requires that they be primarily oriented toward resolving scientific or technological uncertainties.
03
Process of Experimentation
Must demonstrate that the research activities are conducted through a systematic approach that includes testing, refining, or evaluating different approaches.
04
Elimination of Uncertainty
Addressing and resolving technical, scientific, or operational uncertainties associated with a research project or innovation intiative.
05
Documentation
Acquire all necessary documentation to support the previous four tests.