Tax-time advisory: Business services leaders help midmarket companies boost returns on R&D investments

Because manufacturers perform the bulk of private sector R&D to drive new products and process improvements, taking full advantage of the R&D credit is crucial. The fact is IRS scrutiny of this tax incentive has risen in recent years. As tax time comes to a close, RSM McGladrey and Axiom Solutions are offering tax credit services that some companies can take advantage of now. 

03/25/2008


Because manufacturers perform the bulk of private sector R&D to drive new products and process improvements, taking full advantage of the R&D credit is crucial. The fact is IRS scrutiny of this tax incentive has risen in recent years.
In a joint effort to help more companies increase after-tax return on their R&D investments and deliver enhanced R&D tax services to manufacturers, RSM McGladrey and Axiom Solutions LLLP —two business services providers for midmarket companies—will offer Research & Development Tax Credit Services to companies in the upper end of the middle market.
The R&D Tax Credit program, an economic investment incentive, has been in place since 1981 and recognizes investment that leads to the development of new, more efficient products and technological services. The R&D credit has become increasingly attractive to a broad range of businesses, primarily in the manufacturing, technology, and engineering industries. The credit applies not only to product development efforts, but also to manufacturing process improvements and certain types of software development.
In 2007, in an effort to close the tax gap, the IRS increased the scrutiny of Large and Medium Sized Businesses (LMSB) R&D Tax claims, declaring the claims as a Tier 1 Issue. As a result, RSM McGladrey and Axiom Solutions have each strengthened their offerings to an even higher level of precision and focus in documenting and substantiating the IRS areas of interest.
The RSM McGladrey R&D team comprises more than 60 R&D professional specialists, including accountants, tax attorneys, consultants, and former IRS specialists with significant experience preparing R&D claims and supporting documentation. Axiom’s R&D business is comprised of more than 45 accountants, engineers and tax attorneys from a variety of industries. The cooperative agreement allows RSM McGladrey and Axiom to work together on targeted marketing efforts and perform joint consulting engagements under primary/subcontractor arrangements.
Says Tom Windram, national R&D tax practice leader for RSM McGladrey, of the Axiom partnership, "Together we can offer high-quality R&D Tax Credit services to a broader base of clients. We are proud to work with Axiom, which has developed an excellent R&D Tax Credit practice very similar in philosophy to our own.”





The Top Plant program honors outstanding manufacturing facilities in North America. View the 2015 Top Plant.
The Product of the Year program recognizes products newly released in the manufacturing industries.
Each year, a panel of Control Engineering and Plant Engineering editors and industry expert judges select the System Integrator of the Year Award winners in three categories.
Doubling down on digital manufacturing; Data driving predictive maintenance; Electric motors and generators; Rewarding operational improvement
2017 Lubrication Guide; Software tools; Microgrids and energy strategies; Use robots effectively
Prescriptive maintenance; Hannover Messe 2017 recap; Reduce welding errors
The cloud, mobility, and remote operations; SCADA and contextual mobility; Custom UPS empowering a secure pipeline
Infrastructure for natural gas expansion; Artificial lift methods; Disruptive technology and fugitive gas emissions
Mobility as the means to offshore innovation; Preventing another Deepwater Horizon; ROVs as subsea robots; SCADA and the radio spectrum
Research team developing Tesla coil designs; Implementing wireless process sensing
Commissioning electrical systems; Designing emergency and standby generator systems; Paralleling switchgear generator systems
Natural gas engines; New applications for fuel cells; Large engines become more efficient; Extending boiler life

Annual Salary Survey

Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.

There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.

But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.

Read more: 2015 Salary Survey

Maintenance and reliability tips and best practices from the maintenance and reliability coaches at Allied Reliability Group.
The One Voice for Manufacturing blog reports on federal public policy issues impacting the manufacturing sector. One Voice is a joint effort by the National Tooling and Machining...
The Society for Maintenance and Reliability Professionals an organization devoted...
Join this ongoing discussion of machine guarding topics, including solutions assessments, regulatory compliance, gap analysis...
IMS Research, recently acquired by IHS Inc., is a leading independent supplier of market research and consultancy to the global electronics industry.
Maintenance is not optional in manufacturing. It’s a profit center, driving productivity and uptime while reducing overall repair costs.
The Lachance on CMMS blog is about current maintenance topics. Blogger Paul Lachance is president and chief technology officer for Smartware Group.
The maintenance journey has been a long, slow trek for most manufacturers and has gone from preventive maintenance to predictive maintenance.
Featured articles highlight technologies that enable the Industrial Internet of Things, IIoT-related products and strategies to get data more easily to the user.
This digital report will explore several aspects of how IIoT will transform manufacturing in the coming years.
Maintenance Manager; California Oils Corp.
Associate, Electrical Engineering; Wood Harbinger
Control Systems Engineer; Robert Bosch Corp.
This course focuses on climate analysis, appropriateness of cooling system selection, and combining cooling systems.
This course will help identify and reveal electrical hazards and identify the solutions to implementing and maintaining a safe work environment.
This course explains how maintaining power and communication systems through emergency power-generation systems is critical.
click me