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A Research and Development (R&D) credit claim could be your company’s passport to reduced tax liability – and it’s all thanks to one rather underused tax incentive.  The R&D Tax Credit is one of the most generous tax incentives and can assist companies in generating significant tax savings. For example, the IRS estimates that $10.8 billion in federal tax credits were claimed in 2012 alone. Considering that this evaluation does not include credits claimed by S-Corps or LLCs, or the number of R&D credits claimed at the state level, the amount of total R&D credits claimed for 2012 is presumably much higher than reported.

However, R&D tax credits are frequently overlooked by businesses who presume they must have on-site laboratories or undertaking breakthrough ‘white-lab-coat’ research to claim the credits. Comparatively, others distress that they will face complex tax calculations or that it will trigger an IRS audit. However, the fact is that many businesses in a range of industry sectors can claim the R&D tax credit.

In light of this, Swanson Reed hosted a free webinar the benefits of the R&D tax credit for those in the oil and gas industry. In this webinar, our specialists covered the basics of the credit, explored an oil and gas case study and detailed the qualifying activities in the oil and gas industry. The webinar can be found at the bottom this post.

Furthermore, Swanson Reed has teamed up with Capstan Tax Strategies to provide free live global seminar on  June 22, 2016, at  1:00pm – 2:00pm CDT to cover tips and tools for claiming the R&D tax credit in the manufacturing sector.

Tune into the free webinar to learn:

  • An overview of the R&D Tax Credit;
  • R&D activies as they apply to the manufacturing industry;
  • Manufacturing case studies; and
  • The basics of cost segregation for the manufacturing sector.

To ensure you don’t miss out, register for our free webinar on EventBrite:*

*This webinar has now been, to watch this webinar online see: 

As noted above, our previous webinar on the R&D Tax Credit for the Oil and Gas Industry can be watched below, or alternatively on YouTube at:

R&D Tax Credit Webinar – Oil and Gas Industry – SwansonReed

The oil and gas industry is a multi-billion dollar industry. Millions of dollars are put into research and the only way to reduce costs is through R&D Tax Credit.

Swanson Reed specialises in the R&D Tax Credit – contact us today to discuss your eligibility and learn more about how the R&D Tax Incentive may benefit your business.