Why Your Manufacturing CPA Should Have an R&D Tax Credit Partner

Nov 12, 2019 9:00:00 AM

why your CPA needs an R&D Tax Credit PartnerAs a manufacturer in a fast-paced industry, you need to seize every opportunity to be more competitive, grow faster, and increase profitability. After all, your competition is!

That means investing in next-level software, upgrading your machinery, hiring more workers, etc. However, all of those initiatives require capital — capital that isn’t easy to come by in an environment of demand-driven manufacturing.

The R&D Tax Credit offers an excellent solution. It provides tax credits for activities that you’re already doing every day! And while your CPA probably knows about the R&D Tax Credit, they likely don’t know enough about your business activities or the credit to find every qualifying expense. That’s why you need an R&D Tax Credit Partners that specializes in manufacturing.

An Extension of Your CPA

Let’s be clear: R&D Tax Credit Professionals are in no way a substitute for a CPA. Think of your CPA like your general physician. Even though they have a broad range of knowledge, they still need to refer you to a specialist for certain issues.

R&D Tax Credit professionals will work with you and your CPA to determine the value of your tax credits.

WATCH: Black Line Group worked with the CPA for one MN-based custom manufacturer to get enough tax credits for a new Turret & Press Brake.

Don’t Let Your CPA Fly Solo

Manufacturers often tell us, “My CPA is already handling my tax credits, so why should I work with you?” It’s true that your CPA could probably manage the basics of applying for the R&D Tax Credit, but they won’t be able to do it as effectively as a professional that specializes in the manufacturing industry.

We’ve seen it time and again: New clients come to us having had their CPA manage their R&D Tax Credit and, after we looked at their business, we found tens of thousands of dollars they were leaving on the table. It’s nothing against CPAs, but R&D Tax Credits is all we do!!! Finding qualifying expenses is our job.

If you’re interested in learning more about our services, contact us today!

Additionally, we encourage you to check out our blog page, where we regularly publish content on the R&D Tax Credit and qualifying activities for manufacturers and commercial software vendors.

Find out How Big Your Credit Could Be