Substantial Tax Credits for Construction & Engineering Firms

Substantial Tax Credits for Construction & Engineering Firms

It may come as a surprise to some industry professionals that many construction and engineering firms invest significant amounts of money in research and development, yet never claim tax credits for it. The fact of the matter is that there are substantial tax incentives available in much of the typical work conducted by construction and engineering companies.

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R&D Tax Credits Remain Strong Despite Tax Reform

Since federal research and development tax credits were first introduced into law back in 1981, they have been recognized as a key factor in driving US innovation across a wide range of industries.  As Congress begins to take up the challenge of tax reform in late 2017, I’m regularly quizzed about the future of the R&D tax credit. At the heart of the question is the Republican goal of simplifying the tax code, reducing tax rates, eliminating tax breaks and decreasing the federal deficit.

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R&D Tax Incentives for the Precast Concrete Industry

R&D Tax Incentives for the Precast Concrete Industry

When business owners, chief financial officers, and corporate accountants consider R&D tax credits, they often conclude that only high-technology companies, innovative scientific start-ups, and other leading-edge enterprises qualify for the credit. What probably doesn’t come to mind are companies involved in the manufacturing of precast concrete components.

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