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What is Form 6765?
What does Form 6765 mean for Research & Development Tax Credits?
Form 6765 is an important tax form that helps businesses claim the Credit for Increasing Research Activities, also known as the research and development (R&D) tax credit. This credit is designed to encourage innovation and research by offering tax incentives to companies that engage in qualified research activities.
What is the Research and Development (R&D) tax credit?
The R&D tax credit is a federal tax incentive that encourages companies to invest in research and development. This credit provides a significant financial benefit to businesses that engage in qualifying research activities, by allowing them to reduce their tax liability dollar-for-dollar based on their eligible R&D expenses.
Who can claim the R&D tax credit?
The R&D tax credit is available to businesses of all sizes that engage in qualifying research activities, including:
- Developing or improving products, processes, or software
- Designing or testing new concepts and prototypes
- Conducting basic and applied research
- Performing environmental or energy-related research
What are the qualifying expenses for the R&D tax credit?
Qualifying expenses for the R&D tax credit include wages, supplies, and contract research expenses related to eligible research activities. In addition, the credit can be claimed for a portion of the costs associated with using or renting equipment used in eligible research activities.
What is Form 6765?
Form 6765 is used to claim the R&D tax credit. The form requires detailed information about the business's eligible research activities, expenses, and the methodology used to calculate the credit. The form must be attached to the business's tax return to claim the credit.
Form 6765 is a crucial document for businesses that engage in qualifying research activities and wish to claim the R&D tax credit. If you need assistance in completing this form or have further questions about the R&D tax credit, consult with an OnCentive expert.
How is the R&D tax credit calculated?
The R&D tax credit is calculated based on a percentage of eligible research expenses. The credit rate can vary based on the business's size and history, as well as the nature of the research activities. The credit can be carried forward for up to 20 years, and in some cases can be used to offset payroll taxes.
$250,000
POTENTIAL CASH SAVINGS PER YEAR AGAINST FEDERAL FICA PAYROLL TAXES
$14.8B
IN R&D CREDITS
CLAIMED ANNUALLY
42%
OF R&D CREDITS CLAIMED ARE BUSINESSES WITH LESS THAN $5 MILLION IN REVENUE
The innovations your company is working on may be eligible for lucrative tax credits.
If your company is creating new products, or improving existing products or processes, there is a strong likelihood you are eligible for the R&D Tax Credit.
In addition to the federal credit, many states offer tax incentives for companies pursuing innovation within their industry. Pre-revenue companies and start-ups with less than five years of revenue can use the federal R&D tax credits to offset future payroll taxes.
OnCentive's team of credit experts, CPAs, and tax lawyers can help your business explore your Research & Development eligibility. At OnCentive, we work on a success-based fee structure enabling your businesses to claim R&D credits without any out-of-pocket costs. We offer complete audit protection and a money-back guarantee.
Not Sure If You Qualify?
Our Experts Determine Your Eligibility For Free.
We understand that understanding and applying for the R&D Tax Credit may feel daunting. The important thing to remember is that you won’t be alone. OnCentive tax credit experts will be there with you every step of the way, to walk you through the process and help you prepare all the necessary documentation.
A 15-minute call can qualify you for the largest tax credit for US businesses.
What Clients Say About OnCentive:
Don't just take it from us.
Morgan Akins, The Arc of Tuscaloosa
"The OnCentive team helped our non-profit raise hourly wages to attract and retain employees through a very difficult labor market. The services we provide our clients are critical to the community. Thanks to OnCentive we are able to remain competitive as an employer. Their team is great to work with and without a doubt will help you maximize the amount your organization can recover.”
Tawny DeBolt, Neon HCM
"OnCentive has delivered millions of dollars in credits to our clients. We had them take a look at our business and they found over $100k in cash refunds for our company. Their staff treats every one of our clients like they are their own and our clients and ecstatic we made the introduction."
Cliff Morgan, CFO Concrete Guys
"OnCentive has exceeded our expectations. We were skeptical on whether or not these programs would work for us but they absolutely made us believers. I would highly recommend them to any business looking to increase its profitability.”
Led by Tax Attorneys,
CPAs & Credit Experts
Our leadership has over 150 years of combined tax experience. With $3 billion in incentives captured, you are in good hands with OnCentive.
Quality Guaranteed
In the unlikely event that your credit is ever contested, the OnCentive team will defend our work and will fully refund any credits that are disallowed.
Maximum Credit Yield
Our profitability is tied with yours. We work off success fees which means we are motivated to find the maximum credits your business can qualify for.
