There is no ceiling on the tax money your business can save by claiming the R&D tax credit. The amount of your business' R&D credits is determined by the scale and expense of your qualifying technical activities — the more you spend on R&D, the more money you can save. Most businesses save roughly 10% of their eligible R&D costs, and many large corporations save millions of dollars each year.

Expenses that may qualify for the R&D Tax Credit include employee wages or salaries, consultant fees, material/supply costs, and rented cloud server space for dedicated testing environments. The expenses must be directly related to research and development projects conducted in the USA to qualify. Expenditures made in foreign countries are not eligible.

Omega’s tax credit experts make the process simple. 

First, we’ll conduct a comprehensive analysis of your technical operations to identify qualified projects and verify eligible expenses. Next, we’ll work with your CPA and accounting staff to quantify your credit benefits and gather supporting documentation. Finally, we’ll provide you with an executive report that substantiates your R&D credit, including audit-related support should your claim ever be reviewed. 

We also offer ongoing consultation to identify any additional existing tax credits and recommend procedural improvements to help you maximize your benefits year after year.