R&D Credit Consulting
Finding ways to reduce costs and expenses while driving sales, profitability and growth is essential to success in business. Companies in Charleston and across South Carolina navigate the success formula differently by adjusting operations, production, vendor contracts, and pricing strategies. Others focus on product variation, new product development, relationship management, and marketing programs. While useful, many are surprised to learn about the saving potential available through federal tax incentives including the Research & Development (R&D) tax credit. The credit is designed to incentivize innovation projects and provide a financial incentive to undertake such efforts. It features dollar-for-dollar savings against current year taxes and has both a carryforward and carryback feature. Despite its amazing potential, many businesses do not attempt to claim the credit because of various misconceptions about who can apply, qualifying activities, and restrictions.
South Carolina R&D Credit Experience
JLK Rosenberger is a CPA firm that provides R&D tax credit study and consulting services to companies in Charleston and across South Carolina. We work with companies in several industries including agriculture, architecture, chemical, engineering, construction, electrical/mechanical contracting, life sciences, medical device, and technology. In many cases companies outside these industries also qualify for the credit as well, but it depends on the circumstances of the project.
Our team has years of experience identifying qualifying activities, reviewing expenses, and determining project eligibility. We turnkey the entire process from initial documentation to preparing the IRS submission to claim the credit. This includes an organizational review, background research, compilation of key reports and supporting documents, related interviews, and documentation preparation. From start to finish, our team stands ready to help you claim this significant tax-saving opportunity.
R&D Tax Credit Myths
Map of Columbia (SC)
About Charleston (SC)
One of the key strengths of the Charleston business community is its diverse economy. The city has a mix of industries, including manufacturing, aerospace, healthcare, tourism, technology, and creative services. Charleston is home to major manufacturing facilities, particularly in the automotive and aerospace sectors, attracting companies like Boeing and Volvo. The presence of these industries provides employment opportunities and contributes to the city’s economic vitality.
The tourism and hospitality sector also play a significant role in the Charleston business community. The city’s rich history, beautiful beaches, and world-class culinary scene draw millions of visitors each year. As a result, businesses in tourism, hotels, restaurants, and retail flourish, contributing to job creation and economic growth.
Contact Our Charleston R&D Credit Consultants
JLK Rosenberger provides R&D credit studies and consulting services to companies in Charleston and across South Carolina. Complete the form below and a member of our team will follow up with you shortly.