R&D Tax Credit, Firestone Tax

3 Overlooked Industries for R&D Tax Credits: What CPAs Need to Know

If you’re a CPA advising business clients, you likely know which industries (like software and technology) clearly qualify for the R&D tax credit. But what about the not-so-obvious industries? The ones quietly innovating behind the scenes—without lab coats or patent filings. These businesses may not look like traditional “research and development” outfits, but their operations …

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"Image displaying a concept of unlocking tax breaks with a key. Text reads: 'UNLOCK 2025 R&D TAX BREAKS: Navigating Form 6765 & Section 174 Updates'. Background includes financial documents, a calendar, a padlock, paperclips, and dollar bills, symbolizing financial planning and tax preparation.

Form 6765 Requirements and Section 174 Rules: Key R&D Tax Credit Changes for 2025

R&D Tax Credit / By Rance Hughes

https://www.firestonetax.com/wp-content/uploads/2025/01/Firestone-Tax-Solutions-Claiming-RD-Credits-in-2025.mp4 How Legislative Changes Have Impacted R&D Tax Credits in 2025 As we look ahead to 2025, businesses claiming the Research & Development (R&D) tax credit should be prepared for key legislative changes that will significantly impact their reporting requirements. These changes are aimed at enhancing tax reporting consistency and improving the quality of information …

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R&D Expenses and Amortization

R&D Tax Credit / By Rance Hughes

Since the 1950s, research and development (R&D) expenses have been 100% deductible in the year incurred based on the rules for treatment of R&D expenses contained in I.R.C. §174. Due to a 2017 political budget gimmick, this treatment is about to change. The change For tax years beginning in 2022 and later, §174 R&D …

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R&D Tax Credit for Manufacturers

R&D Tax Credit / By Rance Hughes

The federal R&D tax credit is a generous tax incentive available to companies that invest in the design of new or improved products, processes, software, techniques, or technologies. Many manufacturing companies are unaware that their day-to-day activities make them eligible for significant tax savings via the R&D Tax Credit. About the R&D Tax Credit The …

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R&D Tax Credit for Software and Technology Companies

R&D Tax Credit / By Rance Hughes

The federal R&D tax credit is a generous tax incentive available to companies that invest in the design of new or improved products, processes, software, techniques, or technologies. Surprisingly, although software and technology companies are in a sweet spot for R&D tax credit eligibility, many are unfamiliar with this tax credit and its potential impact …

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R&D Tax Credit Frequently Asked Questions

R&D Tax Credit / By Rance Hughes

How Much Is the R&D Credit Worth? The federal R&D tax credit is one of the most lucrative tax incentives out there. It is a dollar-for-dollar offset against income taxes, generally ranging between 5% and 10% of eligible R&D expenses. Explore with our free calculator – how much tax savings could the R&D tax …

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