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Startups with less than $5 million in gross receipts can use the R&D tax credit to offset their payroll tax liability.
This version of the R&D Tax Credit was created in 2015 through the Protecting Americans from Tax Hikes (PATH) Act to benefit younger companies with no or little income tax liability. The Payroll Tax Credit allows a Qualified Small Business to claim up to $250,000 per year for a maximum of 5 years.
If your company pays income taxes, you may qualify for the R&D Tax Credit.
Our digitized tax tool makes claiming Tax Credits for your business smoother, faster, and more accurate- allowing you to focus on what’s next!
Through integrations and an easy-to-use- interface, you can sync your payroll and accounting software to share relevant business data and information.
Complete your claim on your own time while our team of tax and technical experts helps you maximize your credit.
Meet our team of Tax and Technical experts who can help you claim up to $250,000 for your current year filing or reduce payroll tax liability!
Tax Attorney
Senior Tax Manager
Head of Tax
Everything you need to know about the Payroll Tax Credit
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Yes! Pre-revenue companies are still eligible.
Yes! You can receive credits for past research and development, however, you will need to reach out to our team before claiming your credit to ensure this work qualifies. The Payroll Tax Credit is only relevant to the most recent tax year. Contact us here!
Not to worry — we’ll help you calculate the number of hours, or percentage of the time, your team has spent on research and development. Plus, you can connect your payroll software or manually upload W2 forms to share salary information.
Our digitized tax tool, REV, makes claiming Tax Credits for your business simpler, easier and more accurate. Once you submit your information, our team will evaluate your claim for accuracy, confirm its eligibility, and prepare a detailed report for you to use when filing your taxes. While our team doesn’t file for you, we’ll provide you with the forms and instructions to maximize your return and ensure your claim is audit defensible.
You can use your R&D tax credit however you’d like — to grow your company, hire new talent, reinvest in innovation, and more!
The Payroll R&D Credit was created to enable newer and small businesses to find an immediate return on their R&D activities. The federal government outlined special criteria that enable these businesses to claim this credit and immediately apply them to their payroll tax liability as opposed to their income tax liability, which these newer businesses may not have. The regular R&D credit can only be applied against income tax liability.
The Payroll R&D Tax Credit is applied the quarter after you claim and will eliminate your payroll tax liability on an ongoing basis until the credit is exhausted. If you have no immediate tax liability, your credits may be carried forward indefinitely. How the credit is applied may depend on your payroll provider.
Find out if you can claim up to $26,000 in tax relief per employee!
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