How the R&D credit applies to Venice businesses
The federal R&D tax credit rewards work that tries to improve a product or process through design and testing. In Venice that often means boat and marine builders working on new designs, small manufacturers refining products and contractors developing custom systems.
The credit is claimed on the federal return, so the rules are the same in Venice as anywhere else. Many small Venice companies are S corporations or LLCs, so the credit passes through to the owners and your CPA files it with the return.
Work we often see in and around Venice
Marine and boat building: hull design, new materials and custom build methods
Manufacturers: new products and better production methods in small shops
Construction and contractors: engineered building methods and custom systems
Engineering and architecture: custom designs and technical fixes for clients
Work that often qualifies
Trying a new hull shape, layout or material and recording the results
Building a prototype or test version of a new product
Developing a custom fixture or tool to speed up production
Designing an engineered method for a building problem
Fixing a recurring failure by testing several approaches
Work that usually does not
Routine construction and finishing work
Maintenance and repairs with a known fix
Copying an existing design without changes
Costs that count
Wages for the people doing the work, supplies used in testing and a share of outside contractor costs can count when they tie to a qualifying project. We match each cost to a project so your CPA has a file that holds up if the IRS asks.
What to bring to a screening
A list of new designs, builds or methods from recent years
Who worked on them and roughly how much time they spent
Sketches, photos, build notes or test results
Payroll and material totals for those projects
Based in Sarasota, a short drive up the coast, we work with Venice and the rest of Sarasota County, and with businesses across Florida and the United States.
Find out what your work has earned
Free 5 to 10 minute screening. See which of your projects can earn a credit.
Why us
Why businesses choose Strategic Incentive
We are a Sarasota firm that pairs R&D credit specialists with a practicing CPA, so every study is built for the return it feeds.
A CPA partner behind every study
A practicing CPA is part of our team, so the work is built for the return it feeds.
Project-level documentation
Each qualifying project is documented on its own, not covered by boilerplate.
An audit-ready file
Your CPA gets the calculations, narratives and records in one organized package.
How it works
How a study works
Four steps from the first screening to a filed, audit-ready claim.
1
Free screening
A 5 to 10 minute screening based on the IRS four-part test. We review your answers and estimate whether a credit is likely.
2
Discovery interview
A guided conversation and a questionnaire built for your business document each qualifying project.
3
Calculation
We calculate the credit and prepare Form 6765 support, project narratives and employee time allocations.
4
CPA hand-off
We work with your CPA or tax preparer and hand over an audit-ready package. If the IRS asks questions, we respond.
FAQ
Common questions
Straight answers before you start a screening.