IronGate Business Advisors Invites Research-Driven Companies to Explore Eligibility for Federal R&D Tax Services Program
For 18+ years, the firm has helped clients accrue 10-20% of qualified R&D expenses by leveraging the Federal Research and Development (R&D) tax credit incentive
MIAMI, FLORIDA, USA, June 9, 2024 /EINPresswire.com/ — IronGate Business Advisors, a leading consulting firm providing strategic tax planning solutions, is urging businesses in the Manufacturing, Design, Construction, and Tech sectors to contact the firm to evaluate whether they qualify for the government’s Research and Development (R&D) tax credit. Made permanent in 2015, the R&D tax credit aims to encourage innovation by allowing qualifying companies to accrue a tax credit of roughly 10-15% of eligible R&D related expenses.
The R&D tax credit is designed to encourage companies to invest in research and development, supporting activities that might not otherwise be possible due to cost constraints. Eligible expenses under this program include salaries and wages, related third-party contract expenses, and supply costs, providing significant refunds or reductions in tax liabilities. This incentive not only fuels technological innovation but also gives businesses the financial flexibility to reinvest in their core operations and future growth.
“The R&D tax credit is a vital tool for fostering innovation and growth, yet many companies are unaware of their eligibility or daunted by the intricacies of the program,” explains an executive at IronGate Business Advisors. “At IronGate, we’ve been demystifying this process for years through our R&D Tax Services program. By partnering with companies and their tax professionals to harness these valuable incentives, our goal is to ensure that more businesses can take full advantage of the tax savings they rightfully deserve, which can be as much as roughly 15% of their qualified R&D expenditures.”
IronGate Business Advisors offers a unique opportunity for clients to retroactively claim Research and Development (R&D) tax credits, extending up to three years at the federal level and four years for California-based businesses. However, each passing year without filing means forfeiting rightful credits, potentially amounting to six figures or more. These credits, crucial for maximizing profitability, can be carried forward for up to 20 years, underscoring the importance of proactive tax planning and claiming what’s rightfully owed.
IronGate Business Advisors is comprised of a diverse group of professionals including CPAs, engineers, architects, attorneys, all dedicated to providing comprehensive solutions tailored to each client’s needs. This multidisciplinary expertise allows IronGate to fully understand and address the specific challenges and opportunities within various industries, from initial assessment to final compliance. IronGate’s detailed, client-focused approach ensures that each R&D claim is not only compliant with the latest tax laws but is also optimally structured to maximize the financial benefits for their clients. This blend of technical and legal knowledge has helped IronGate build a reputation as a trusted advisor in the complex space of R&D tax incentives.
Our esteemed Managing Director of R&D Tax Credits, Allen Douglass, boasts an impressive 15+ years of specialized experience in the field. As a Certified Public Accountant and expert witness, Allen leads our practice efficiently, leveraging his expertise to identify and unlock tax credit opportunities for businesses across all industries. With a focus on defending R&D tax credit claims against IRS audits and appeals, Allen’s tailored solutions, backed by his deep understanding of tax legislation, ensure optimal savings for each client. He holds a B.S. in Business Management and Advanced Taxation studies from Golden Gate University.
Allen has worked with and continues to actively work with Fortune 500 companies. Additionally, many of our clients participate in the IRS Compliance Assurance Process (CAP) program and undergo annual audits, ensuring that our firm remains exceptionally aware of IRS guidelines and adept at properly substantiating all claims.
“As an additional value-add, clients working with IronGate benefit from staying abreast of the latest legislative changes that could affect tax credits,” noted IronGate’s executive. “Currently, there is a supportive bill awaiting passage in the Senate that promises to enhance benefits under the R&D program, potentially increasing the range of qualifying activities and expense categories. Since our experts stay right on the pulse of these developments, our clients will be the first to be able to harness such expanded benefits when the bill passes.”
As a leading consultancy for strategic tax planning, IronGate Business Advisors encourages all businesses who want to learn more about their R&D Tax Services program to get started by visiting their website at www.igbusinessadvisors.com.
Beyond R&D tax credits, IronGate offers a comprehensive suite of services that includes specialization in the 179D Energy Efficient Commercial Building Deduction and the §45L Energy Efficient Home Credit. They also offer a Comprehensive Fixed Asset Review service and Cost Segregation Studies, all backed by 20 free hours of audit support, flexible payment structures and detailed reporting, ensuring clients receive unparalleled support and transparency.
Rachel Harris
Pulse Media PR
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