Acuity Insurance’s manufacturing specialist, Mike S., brings you up to speed on an important topic for tax season, research and development tax credits that are available to manufacturers. This tax credit is for manufacturers that perform research and development. It was recently made permanent and was expanded to companies with less than $50 million in revenue. This research and development tax credit isn’t just a tax deduction, but is a full dollar to dollar tax credit on the taxes owed.
Our goal at Acuity is to make your life easier—whether that is keeping you protected through our insurance products, supporting you during a claim, or helping you grow your business. That is why we hire industry experts, such as Mike, to provide you with manufacturing information on a variety of topics. If you have a question you want to ask Mike please email him at email@example.com.
To learn more about the R&D tax credit, check out the IRS website.