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The Research and Development Tax Credit (R&D) is an often overlooked tax incentive due to many misconceptions in the marketplace. The credit is available to businesses that attempt to develop new or improved innovative products, software or trade processes.
Examples of various credit-qualifying efforts commonly performed by public relations companies may include developing or improving the following:
• Software development
• Data analytics programs
• Datamining programs
It is important to discuss with your service provider if your PR agency qualifies for this tax credit and how your company can minimize your tax liability and effective tax rates while generating substantial cash flow.
– Taylor Turetsky, The Agency 100
