LOS ANGELES, Calif. (PRWEB) March 24, 2015
Apex Advisors Provides Complimentary R&D Tax Credit Assessment
Free assessment dispels common myths about research and development tax credits.
Apex Advisors, a tax specialty services firm, announced today that it is offering companies a complimentary assessment for research and development (R&D) tax credits. The assessment allows companies to determine eligibility for R&D tax credits that they may not know about, and receive an estimated value of the tax credit. The assessment dispels the myths that often prevent companies from taking advantage of various tax benefits.
“Many companies feel they are too small to be considered for R&D tax credits or worry that they are not profitable,” explains Apex Advisors Partner David Ahn. “What they don’t realize is that more than 30 percent of businesses that receive these credits have annual revenues less than $2.5 million and the credit can be carried forward to when they do become profitable, for up to 20 years.”
The R&D tax credit is one of the most under-utilized tax credits available. Originally enacted in 1981, the R&D tax credit was intended to incentivize American investment in technology and innovation. It provides companies with various tax credits on qualified research and development expenses, including wages, materials and third party costs. Since enactment, more than 30 states have adopted similar tax credit programs that added to the benefit.
In 2011, more than 14,000 companies benefitted from the federal R&D tax credit, totaling over $9 billion in tax credits. However, a large number of eligible companies fail to take advantage of these tax credits, largely due to lack of awareness or misinformation.
“There is an assumption that R&D involves lab coats and test tubes,” Ahn notes. “In fact, a surprisingly wide range of businesses are eligible for R&D tax credits. Food processing companies, video game developers, apparel manufacturers and contract job shops are just a few. Credits span a wide range of businesses, industries and company profiles.”
Apex Advisors offers complimentary R&D tax credit assessments in order to help companies dispel the myths that keep them from utilizing the credit. The assessment looks at a company’s financial activities and estimates a range of potential credits available at both the federal and state level.
“Over the past 15 years, we’ve conducted over 10,000 R&D tax credit studies across 60 different industries,” said Ahn. “Our assessment puts to rest any doubts that business owners have about R&D tax credits. It’s a risk free opportunity that can have a direct impact on their business strategy and enhance their ability to compete. It would be a mistake to assume you are not eligible.”
About Apex Advisors
Apex Advisors is a tax specialty services firm dedicated to helping businesses innovate and grow in today’s increasingly competitive global marketplace. Founded in 2001 and headquartered in Los Angeles, California, Apex Advisors helps businesses claim valuable tax credits through a variety of federal and state programs, including Research & Development Tax Credits, Work Opportunity Tax Credits, Enterprise Zone Tax Credits, Sec. 179(d) and many others. Our experienced staff of accountants, tax attorneys, engineers, and former IRS agents and attorneys work closely with clients to provide the extensive research necessary to maximize tax benefits and provide rigorous defense against audits. At Apex Advisors, we invest in strong relationships that deliver better results. For more information, visit http://www.apexadvisorsus.com.