The Machine Tools Industry

Machining Tools

Courtesy of Wikipedia.org user Geoff Olynyk

Whether your company produces machine tools meant for metal cutting, metal forming, or some other application, chances are that some of your endeavors could qualify your business for significant tax credits. The Research and Development Tax Credit (R&D) was created by the government to encourage innovation through offering tax credits for research, experimentation, invention, and product or process streamlining.

This generous research and development credit is often overlooked by small and medium-sized companies, and every year there is a substantial loss of savings in the machine tools industry. That’s why it’s important to consult a professional about your potential savings! Tax Credit Advisors has the experience and knowledge to help your business discover applicable activities that your company is already pursuing and help to navigate through the claims process.

Consider whether your company has or is engaging in any of the following innovations:

  • Working on new design concepts and how to define specifications
  •  Engineering and designing new products and processes
  • Streamlining the design of existing products
  • Improving manufacturing or production processes
  • Creating new manufacturing plans and goals
  • Improving on new or current products and processes by designing, modeling, simulating, testing, or analyzing them.
  • Inventing new tooling and equipment used in the manufacturing process
  • Creating, building, and testing prototypes
  • Running tests on a new or improved design to be sure they’re in working order
  • Development of new software applications to use internally, or to interact with customers and/or vendors

If any of these efforts seem familiar, contact Tax Credit Advisors today for a consultation. Our experts will be happy to walk you through the process of filing claims and help you to maximize the savings the Research & Development tax credit can offer your company.

To arrange a FREE tax credit consultation, please contact us now, or call us at 508-842-3232 (US) or 774-696-3310 (Canada).

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