Engineering businesses may think they don’t qualify for the credit, or may be aware of the credit, but are not taking advantage of the incentive. The definition for the R&D credit encompasses engineering activities, including designing or developing new systems or improved solutions. The U.S. has put these incentives in place and wants these businesses to take full advantage of them. In doing so, engineering businesses can continue steady and strong improvement and innovation in the Unites States.
Structures are exposed to various forces and loads, as well as environmental elements, requiring a high degree of engineering and testing to ensure safety and structural requirements are met. Civil, electrical, environmental, mechanical, product, or structural engineering firms can obtain research and development incentives by way of performing certain day-to-day activities. TTG will help evaluate your activities and expenses to help you take full advantage of the incentives available.
Qualifying Activities Include:
Creating and evaluating environmental designs
Performing environmental studies
Evaluating ventilation alternatives
Developing HVAC systems or equipment
Designing and developing detailed layout and drawings for system(s)
Designing and fabricating components for the system
Utilizing CAD to identify structural weakness
Building and testing the system
Developing or designing lighting alternatives
Utilizing computer aided design to create, develop, evaluate designs
Evaluating or analyzing the use of various materials in the design of a system or structure
Designing plumbing systems or solutions
Developing electrical systems or solutions
BIM modeling and analysis
Case Study
Sub-Industry: Mechanical Engineering
Revenue: $10,000,000 to $25,000,000
Annual Federal Qualified Expenses: $2,600,000
Annual Federal Credit: $200,000
Estimate your Credit
Take a moment to complete the form below and allow us to estimate the amount of credits your company may be entitled to.