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research and development trax credit books

Free Guide: Claiming your Research & Development Tax Credit

Billions of dollars go unclaimed every year. Let's change that.

  • How to learn what business activity is eligible for a research and development tax credit.
  • The 4 Part Test - the simplest way to determine if your work qualifies.
  • What's next? How to apply and the role Complete Payroll can play in helping your business claim its tax credit.

Understanding this credit is profitable.

Often, activities that qualify as research and development go unrecognized because of an unfamiliarity with the R&D credit and recent changes that make it more beneficial to small businesses and start-ups. This leads to billions of dollars going unclaimed every single year. Although this credit has been around since 1981, the PATH Act of 2015 now allows small businesses to claim R&D costs against payroll taxes, resulting in a refund check from the IRS.
r&d payroll credit building
r&d payroll credit building

Recent changes to the credit are favorable to small- and medium-sized businesses.

In 2015, changes to the Protecting Americans from Tax Hikes (PATH) Act went into effect. This changed the ramifications of the R&D credit starting with the 2016 tax year.

Now, small businesses can figure and claim a credit for their eligible research activities as a payroll tax credit, rather than against their income tax. PATH allows R&D costs to be credited against the employer portion of social security taxes.

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