Leveraging the R&D Tax Credit for Manufacturers with CohnReznick

Manufacturing Happy Hour · 29 Jun 2021 · 39m

What this episode covers

Jessie Cahill and Scott Hamilton from CohnReznick explain how US manufacturers can claim the R&D tax credit, dispelling the myth that it is only for high-tech labs. They detail qualifying activities such as process improvements, automation, and trial runs, noting that even fixing production errors or tweaking machinery qualifies. The guests outline a two-phase approach to claiming the credit, emphasizing that simple documentation like emails and lab notes is sufficient for substantiation.

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