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 Honolulu and across Hawaii 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.
Hawaii R&D Credit Experience
JLK Rosenberger is a CPA firm that provides R&D tax credit study and consulting services to companies in Honolulu and across Hawaii. 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
Hawaii Small Business Profile
About Honolulu (HI)
One of the key strengths of the Honolulu business community is its thriving tourism and hospitality industry. The city attracts millions of visitors each year who come to experience the beauty of the Hawaiian Islands and enjoy its luxurious resorts, outdoor activities, and cultural attractions. The tourism industry supports a wide range of businesses, including hotels, restaurants, tour operators, transportation services, and retail establishments.
Honolulu is also a hub for the military and defense industry. The city is home to several military bases and defense contractors, supporting a range of businesses in defense-related technologies, logistics, and support services. The military presence contributes to the local economy, provides employment opportunities, and fosters collaboration between the public and private sectors.
Contact Our Honolulu R&D Credit Consultants
JLK Rosenberger provides R&D credit studies and consulting services to companies in Honolulu and across Hawaii. Complete the form below and a member of our team will follow up with you shortly.