Most construction companies qualify for the R&D Tax Credit. That means there’s a good chance you can save thousands of dollars — risk-free – by claiming construction tax credits for your company.
– Value engineering
– Improving overall process to increase efficiencies
– Design, build projects
– Pre-construction planning
– Development of means and methods for hard-bid jobs
– Green building design/LEED certification
– Energy-efficient design or improvements
– Experimenting with new material combinations
– Development of methods that accelerate construction
– Dew point analysis for vapor barriers
– Designing HVAC systems for airflow and efficiency
– Designing electrical systems for efficient power usage
– Plumbing system design for efficient water usage
– Lighting system design for energy efficiency
– Drainage and water management design
– Use of building information modeling (BIM)
– High-tech equipment installation
– Plant production system design
The R&D tax credit is a tax rebate that the U.S. government provides for qualified Research and Development (R&D) activities to incentivize innovation.
It means that your company could save up to $300,000 on taxes — offsetting things like payroll and helping propel your business.
But the IRS is cracking down on these construction tax credits, so you need to make sure you’re filing properly.