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 Cleveland and across Ohio 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.
Ohio R&D Credit Experience
JLK Rosenberger is a CPA firm that provides R&D tax credit study and consulting services to companies in Cleveland and across Ohio. 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 Cleveland (OH)
About Cleveland (OH)
One of the key strengths of the Cleveland business community is its focus on healthcare and biomedical industries. The city is home to the renowned Cleveland Clinic, one of the top-ranked hospitals in the United States, and other leading medical institutions. Cleveland’s healthcare sector encompasses medical research, patient care, biotechnology, pharmaceuticals, and medical device manufacturing. The presence of these institutions attracts top talent, fosters innovation, and contributes to the local economy.
Cleveland has a strong manufacturing heritage, and the manufacturing sector remains a significant part of the local economy. The city has a diverse manufacturing base that includes industries such as automotive, aerospace, machinery, and steel. Cleveland’s strategic location, access to transportation networks, and skilled workforce support the growth of manufacturing businesses.
Contact Our Cleveland R&D Credit Consultants
JLK Rosenberger provides R&D credit studies and consulting services to companies in Cleveland and across Ohio. Complete the form below and a member of our team will follow up with you shortly.