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 Providence and across Rhode Island 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.
Rhode Island R&D Credit Experience
JLK Rosenberger is a CPA firm that provides R&D tax credit study and consulting services to companies in Providence and across Rhode Island. 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 Providence (RI)
About Providence (RI)
One of the key strengths of the Providence business community is its focus on education and knowledge-based industries. The city is home to renowned universities and colleges, including Brown University and the Rhode Island School of Design (RISD). These institutions provide a skilled workforce and contribute to research and development in various fields, including life sciences, technology, and design.
Providence has a thriving arts and cultural scene, with a strong emphasis on creative industries. The city hosts numerous festivals, art galleries, theaters, and performance spaces, fostering a vibrant arts community. This creative energy extends to businesses in fields such as advertising, design, architecture, and media, contributing to the cultural and economic vitality of the region.
Contact Our Providence R&D Credit Consultants
JLK Rosenberger provides R&D credit studies and consulting services to companies in Providence and across Rhode Island. Complete the form below and a member of our team will follow up with you shortly.