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 Detroit and across Michigan 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.
Michigan R&D Credit Experience
JLK Rosenberger is a CPA firm that provides R&D tax credit study and consulting services to companies in Detroit and across Michigan. 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 Detroit (MI)
About Detroiut (MI)
One of the key strengths of the Detroit business community is its strong manufacturing sector. The city has a long-standing heritage in the automotive industry and is home to major automakers and their suppliers. Detroit’s manufacturing expertise extends beyond automotive to sectors such as advanced manufacturing, robotics, aerospace, and defense. The city’s skilled workforce, research and development capabilities, and transportation infrastructure make it an attractive location for manufacturing businesses.
Detroit has also become a hub for technology and innovation. The city has seen the emergence of startups and tech companies in fields such as software development, information technology, mobility solutions, and advanced materials. Organizations like TechTown Detroit and the Detroit Technology Exchange foster innovation, provide resources for entrepreneurs, and support the growth of the technology sector.
Contact Our Detroit R&D Credit Consultants
JLK Rosenberger provides R&D credit studies and consulting services to companies in Detroit and across Michigan. Complete the form below and a member of our team will follow up with you shortly.