One clause in a client contract can cost an engineering firm the R&D tax credit on a whole project.
David Wiener reads a work product paragraph that hands all drawings, calculations, methods and know-how to the client. In his illustration, a firm spends four months beating a bad soil site, two designs fail, the third holds, and the credit on that project can still be gone. Getting paid by a client isn't what costs you the credit. The contract is.
From The Tax Strategy Playbook.
Full episode: https://taxstrategyplaybook.com
No-cost analysis through CSSI: https://calendly.com/david-wiener/cs or 770-224-8504, option two
This is educational content, not tax advice for your situation. Talk to your tax professional.