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 Chicago, Springfield, and across Illinois 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.
Chicago R&D Credit Experience
JLK Rosenberger is a CPA firm that provides R&D tax credit study and consulting services to companies in Chicago, Springfield, and across Illinois. 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 Chicago (IL)
About Chicago (IL)
One of the key strengths of the Chicago business community is its strong presence in finance and commerce. The city is home to major financial institutions, including the Chicago Mercantile Exchange and the Chicago Board Options Exchange. Chicago’s financial sector encompasses banking, asset management, trading, insurance, and investment services. The city’s central location and robust transportation infrastructure contribute to its status as a global financial center.
Chicago is also known for its diverse and vibrant manufacturing sector. The city has a long history of manufacturing excellence, with a focus on industries such as machinery, transportation equipment, food processing, chemicals, and pharmaceuticals. Chicago’s skilled workforce, access to transportation networks, and proximity to raw materials and markets support the growth of the manufacturing industry.
Contact Our Chicago R&D Credit Consultants
JLK Rosenberger provides R&D credit studies and consulting services to companies in Chicago, Naperville, and across Illinois. Complete the form below and a member of our team will follow up with you shortly.