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 Minneapolis, St. Paul, and across Minnesota 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.
Minneapolis R&D Credit Experience
JLK Rosenberger is a CPA firm that provides R&D tax credit study and consulting services to companies in Minneapolis, St. Paul, and across Minnesota. 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 Minneapolis (MN)
About Minneapolis (MN)
One of the key strengths of the Minneapolis business community is its robust and diverse economy. The city is home to major corporations in various sectors, including healthcare, finance, retail, technology, and manufacturing. Fortune 500 companies such as Target, UnitedHealth Group, and Best Buy have headquarters in Minneapolis, providing employment opportunities and driving economic growth in the region.
Minneapolis is also a hub for healthcare and medical technology. The city is home to renowned medical centers and research institutions, including the Mayo Clinic, which contributes to advancements in healthcare research, treatment, and innovation. The medical technology industry in Minneapolis spans medical devices, pharmaceuticals, and digital health, creating a supportive environment for startups and attracting investment.
Contact Our Minneapolis R&D Credit Consultants
JLK Rosenberger provides R&D credit studies and consulting services to companies in Minneapolis, St. Paul, and across Minnesota. Complete the form below and a member of our team will follow up with you shortly.