R&D Tax Credit

The R&D Tax Credit is a government incentive that rewards companies for investing in research and development activities. It helps businesses recover some costs associated with creating new products, improving existing ones, or developing innovative processes. The purpose is to encourage innovation, technological advancement, and competitiveness. By claiming this credit, companies can reduce their tax bills, thereby freeing up resources to further invest in their growth and development. It’s a valuable tool for companies engaged in qualifying R&D work, providing both financial relief and support for innovation efforts.