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:

Conducting attainable reviews
Engaging in value engineering designs
Development of electrical and mechanical systems
Developing new or innovative construction methods
Developing and integrating innovative construction materials
Collaborating and developing on conceptual ideas and designs
Building information modeling (BIM) activities and Computer-aided design (CAD)
Implementing and Identifying new and innovative methods or means for constructability
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.