There’s a silly but profound saying, “You don’t know what you don’t know.” Seems obvious. But is it?
When you take a closer look at that statement, it’s really about opening your mind to possibilities, opportunities and potential that you never thought of before.
So, here’s one for you.
Did you know that your business may very well be eligible to get Congressionally mandated Business Credits and Incentives you most likely never knew existed? In fact, there are over 700 such credits and incentives. The R&D Tax Credit is one of them.
There’re millions of dollars sitting there waiting for businesses to claim them!
The IRS reported recently that over 15,000 large businesses claimed the R&D Tax Credit they were entitled to, with an average benefit of over $650,000! That’s approximately 6 out of 10 large companies that applied for them.
Only 5% of small businesses, according to the Wall Street Journal, claim these Business Credits and Incentives for themselves, even though they are fully entitled to them! That’s because we don’t know what we don’t know!
So, I’m taking the time now to tell you! You’ve got to know about these types of benefits for being a business owner!
There’s more. If you are owed these Incentives and Credits for previous years, you can claim these retroactively!
Don’t let this money slip through the cracks simply because you don’t know about it!
In 1981, Congress enacted the R&D Tax Credit program. It was designed to help American businesses be more competitive and keep jobs in America and in our local communities. Companies that innovate, expand their business, develop or improve existing products, services, systems and processes are to be rewarded for such activities. Over 40 states offer these Credits and Incentives at the state level.
Recently, we’ve helped hundreds of businesses lay claim to the money they are entitled to.
Here are some exciting examples of companies that didn’t let the money they were entitled to slip through the cracks!
Commercial Construction Company got $262,000.
Pool Cleaning Service and Supply Company got $115,000.
Engineering Firm got $15,000.
Manufacturing Company $146,069.
Auto Parts Store $27,580
Printing Company $15,000
Just like these businesses, I invite you to find out more about these Congressionally mandated programs. Maybe you, too, will qualify to get money you are entitled to but just didn’t know about it.
You don’t know what you don’t know until you know about it! And now you do!
Tune in next time to learn of the 5 Myths About the R&D Tax Credit Program!
If you have questions, you are invited to email Elayne Lieberman at email@example.com