Tax Time Reminder- Claim Your R&D Tax Credit and Improve Cash Flow!

With tax season upon us, now is the time to evaluate whether your company can benefit from the Research and Development (R&D) Tax Credit.  Many NTMA members do take advantage of the R&D Tax Credit and are improving their cash flow!

The definition of Research and Development (R&D) is much broader than people realize.  “Job Shops” of all kinds, including metal stampers and fabricators, precision machiners, mold builders and plastic injection molders, often believe that they DON’T have R&D taking place. They mistakenly believe it’s only their customers who are doing the R&D, and that they are simply making products for their customers who provide them with drawings for products/parts.  However, these “job shops” can have substantial R&D taking place through their “PROCESS” development and improvement activities.

This past November, Black Line Group, an NTMA Member that focuses solely on the R&D Tax Credit (not an accounting firm) and that has already assisted many NTMA members, presented the most highly attended webinar ever put on by the NTMA on the R&D Tax Credit.  This webinar addressed the benefits and risks of claiming an R&D Tax Credit, and featured two NTMA members who discussed their experiences with their R&D Tax Credit claims.

The recorded webinar and PowerPoint presentation are available online in the NTMA archived webinar section: https://www.ntma.org/eweb/dynamicpage.aspx?webcode=ArchivedWebinars. Also, the January 2009 and February 2009 issues of the Record has a two-part article on the R&D Tax Credit titled “Is Your Company Leaving Money on the Table”  These articles can be accessed on the NTMA website in the Document Library in the NTMA “Record” section: https://www.ntma.org/eweb/dynamicpage.aspx?webcode=DocumentLibrary

To learn more about the R&D Tax Credit or to discuss your company’s opportunity, contact Scott Schmidt of Black Line Group at 763-550-0111, via email at scott@blacklinegrp.com or visit Black Line Group’s website at www.blacklinegrp.com.