Understanding tax credit eligibility can feel overwhelming and confusing. More often than not, day-to-day operations are time-consuming and take precedence over everything else. In addition, industry was hit hard by COVID-19, which is why there has never been a more critical time for business owners to determine which tax credits they are eligible to receive—the potential benefit is too great to pass up.
My Business Won't Qualify
Many business owners assume that since they are not a manufacturing or tech company building a new product or service, they don't qualify. This is a myth! This credit can be claimed by any company that has taken the initiative in the field of research and development and optimized its technique, technology, product, service, equipment, composition, and so on. The list of qualifying expenditures is long. It's not about what industry you are but what you do daily.
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