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 Salt Lake City, Provo, and across Utah 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.
Utah R&D Credit Experience
JLK Rosenberger is a CPA firm that provides R&D tax credit study and consulting services to companies in Salt Lake City, Provo, and across Utah. 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 Salt Lake (UT)
Map of Salt Lake City (UT)
One of the key strengths of the Salt Lake City business community is its thriving technology sector. The city has seen a significant increase in tech startups and established technology companies, especially in fields such as software development, cybersecurity, data analytics, and fintech. This growth has been supported by a strong entrepreneurial ecosystem, access to venture capital, and collaboration between local universities, government entities, and private organizations.
Salt Lake City is also known for its outdoor recreation and tourism industries. Surrounded by stunning natural landscapes, including the nearby Wasatch Mountains and numerous national parks, the city attracts outdoor enthusiasts and adventure seekers. The tourism industry, including skiing, hiking, mountain biking, and other outdoor activities, contributes to the local economy and supports businesses in hospitality, accommodations, and outdoor equipment.
Contact Our Salt Lake City R&D Credit Consultants
JLK Rosenberger provides R&D credit studies and consulting services to companies in Salt Lake City, Provo, and across Utah. Complete the form below and a member of our team will follow up with you shortly.