BUSINESS Tax credits

Unlock YOUR BUSINESS R&D tax credits

Credit for R&D

Businesses that invest in qualifying research and development activities to stimulate innovation and growth (as specified in Internal Revenue Code section 41), may be eligible for a general business tax credit under the R&D credit. Let the experts document your eligibility, compute R&D tax credits, and make the filing process easier for your business.

What exactly is the R&D tax credit?

The R&D tax credit is a financial incentive for businesses that prioritize innovation. Any technical activity that enhances what you create or how you make it may qualify. It implies that small businesses in a wide range of industries, including tech startups, sciences, consulting, manufacturing, food, and beverage, and construction, might benefit.

All-in-one with payroll for ease

We utilize the company information you’ve already provided to make the R&D tax credit process easier for busy business owners; plus, you can apply the credits directly against your payroll tax if you qualify.

Peace of Mind with a Partner you can Rely on!

If you currently use the all-in-one payroll software, collecting the R&D tax credit is a piece of cake. This is how it works:

• Check to see whether You are Eligible

Not sure if your company qualifies? We'll assist you in determining how much of the credit you may claim.

• We'll do the research

Our staff will identify your eligible R&D costs and leverage information we already have on hand to make things even easier for you.

• Submit tax forms to the IRS

We prepare the documentation for the R&D credit claim. You submit it to the IRS together with your annual income tax forms.

Success! After the IRS has processed your claim, you can reinvest the tax credit revenues in your business.

Utilizing R&D Tax Credits

You have 3 options for how to spend your R&D tax credits:

1. Reduce your payroll taxes

Qualified small companies may offset payroll taxes directly in Gusto for up to five years through real-time or quarterly redemption. If you use Gusto for R&D tax credit services, real-time redemption is free; otherwise, it costs $100 per month if you file for R&D tax credits through a third party.

2. Reduce your income taxes

After five years, you can use the credit to reduce your income taxes.

3. Carry Forward

If you don't have any income taxes to offset, you can carry the credit back for up to one year and forward for up to 20 years.

Obtain R&D Tax Credits for your Company

The Research and Development tax credit might save you thousands of dollars. Our experts approve businesses, and can help you get the tax breaks you deserve. Check to see if your company qualifies. Gusto can help you claim your R&D tax credit right away. Get Started!