Renaissance Advisory

Let’s be honest. Most business owners are busy trying to grow revenue, manage payroll, keep customers happy, and somehow still sleep at night. Taxes? They’re usually something you deal with when your accountant calls. But here’s the thing — the r&d research tax credit isn’t just some obscure government perk for giant tech companies. It’s a real opportunity. And when it’s used properly, it can seriously improve your bottom line. We’re talking about actual cash savings. The kind that helps you hire, expand, or simply breathe a little easier. If your company invests in developing new products, improving processes, writing software, or solving technical problems, you might qualify. And that credit can directly reduce taxable income in a way that actually moves the needle. Let’s break it down without the tax-jargon headache. What Is the R&D Research Tax Credit ? The r&d research tax credit was introduced under the Economic Recovery Tax Act back in 1981. The government basically...

Innovation sounds glamorous. Brainstorm sessions. Whiteboards full of messy ideas. A team chasing the next breakthrough. But in reality? Innovation costs money. Real money. New prototypes, testing failures, hiring engineers, investing in better equipment, upgrading software — it all adds up fast. And that’s where r and d tax credits quietly step in and change the game for businesses that are actually building things. A lot of companies don’t even realize they qualify. Or they assume it’s only for giant tech corporations. It’s not. If you’re improving products, processes, or developing something new — even incrementally — you might be eligible. What Are R and D Tax Credits, Really? The Research and Development Tax Credit was designed to reward businesses that invest in innovation. It’s not a deduction. It’s a credit. That’s a big difference. A deduction reduces taxable income. A credit reduces the tax bill itself. Dollar for dollar. So if your business qualifies for $100,000 in r and d...