TaxIncennovations
3730 Kirby Drive, Suite 1200
Houston, Texas 77098
Construction
If your company is a General, Electrical, or Mechanical contracting firm that offers design-build services or evaluates new and innovative construction methods for projects, then there is a chance these companies are unaware that the government offers substantial R&D programs. A vast range of common construction industry practices fall under the Internal Revenue Code definition for what constitutes research and development, and may qualify for valuable R&D incentive programs. Let TaxIncennovations help you get onto the path to valuable R&D tax credits for your company today!
Examples of qualifying R&D activities include the following but are not limited to:
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Conducting attainable reviews
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Engaging in value engineering designs
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Development of electrical and mechanical systems
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Developing new or innovative construction methods
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Developing and integrating innovative construction materials
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Collaborating and developing on conceptual ideas and designs
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Building information modeling (BIM) activities and Computer-aided design (CAD)
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Implementing and Identifying new and innovative methods or means for constructability
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Developing new or innovative designs to meet energy efficient solutions or LEED certification
Prior to 2016, small to mid-size companies who qualified for the R&D tax credit were sometimes limited to utilize the credit by Alternative Minimum Tax (AMT). With the new regulations put in place in 2016, small to mid-size businesses can offset their AMT with the R&D tax credit.
Case Studies
A Mechanical and Electrical Contracting Firm specializing in the construction of building systems with gross receipts of $35 million can generate $200,000 in Federal and State R&D Tax Credits per year.
Let TaxIncennovations evaluate how we can assist you in claiming R&D tax credits.