--- title: Is Your Business Taking Advantage of the Research & Development Credit? description: Find out if your company is eligible to and can take advantage of the research and development credit - Sweeney Conrad - Bellevue CPA Firm. --- [![Sweeney Conrad](https://blog.sweeneyconrad.com/hs-fs/hubfs/raw_assets/public/SweeneyConrad_August2022/images/Sweeney-Conrad-logo.jpg?width=542&height=48&name=Sweeney-Conrad-logo.jpg "Sweeney Conrad")](https://www.sweeneyconrad.com/preview/) ![navigation menu](https://blog.sweeneyconrad.com/hubfs/raw_assets/public/SweeneyConrad_August2022/images/hamburger-bars.png) - [What We Do](https://www.sweeneyconrad.com/what-we-do) - [Tax Services](https://www.sweeneyconrad.com/what-we-do/tax-services) - [Client Accounting Services](https://www.sweeneyconrad.com/what-we-do/client-accounting-services) - [Advisory Services](https://www.sweeneyconrad.com/what-we-do/advisory-services) - [How We Do It](https://www.sweeneyconrad.com/how-we-do-it) - [Our Process](https://www.sweeneyconrad.com/how-we-do-it/our-process) - 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By Emily Taibl | Jan 25, 2017 [![white arrow](https://blog.sweeneyconrad.com/hubfs/raw_assets/public/SweeneyConrad_August2022/images/arrow-left-white.png)](https://blog.sweeneyconrad.com) INSIGHTS/BLOG   [![Front view of a man arranging wooden blocks with hand drawn yellow lightbulb in a random structure. Conceptual of research, education and innovation.](https://blog.sweeneyconrad.com/hs-fs/hubfs/Imported_Blog_Media/RD-300x169.jpeg?width=300&name=RD-300x169.jpeg)](https://blog.sweeneyconrad.com/hubfs/Imported_Blog_Media/RD.jpeg) by Michael J. Holmes, CPA  Small businesses and startups may be able to save on payroll taxes with the Research & Development (R &D) credit. In 2015 The PATH Act permanently extended the R&D credit. Starting in 2016 it got a highly beneficial addition where a taxpayer can claim the credit against their 941 taxes (payroll taxes). If your company invests in Research and Development, has gross receipts of less than $5M, has not been in a trade or business for more than five years, and engage in qualifying research activities and expenditures, then you may qualify for the application of the credit- and get a healthy savings on your payroll taxes. The credit can only be applied to your 941 filing **after** it has been claimed on a timely filed return, so acting quickly is important! The R&D credit is always subject to scrutiny from the IRS, so it’s important to have everything properly accounted for and documented when filing. For more information or help determining if you qualify please contact ***Michael J. Holmes, CPA*** at Sweeney Conrad, P.S. at 425.629.1990 or [mholmes@sweeneyconrad.com](mailto:mholmes@sweeneyconrad.com) ### RECENT POSTS ### POSTS BY TAG - [Tax (121)](https://blog.sweeneyconrad.com/tag/tax) - [Audit & Assurance (73)](https://blog.sweeneyconrad.com/tag/audit-and-assurance) - [Estate Planning (60)](https://blog.sweeneyconrad.com/tag/estate-planning) - [News (29)](https://blog.sweeneyconrad.com/tag/news) - [COVID-19 (26)](https://blog.sweeneyconrad.com/tag/covid-19) - [Sweeney Conrad News (20)](https://blog.sweeneyconrad.com/tag/sweeney-conrad-news) - [Retirement Reporter (17)](https://blog.sweeneyconrad.com/tag/retirement-reporter) - [Sweeney Conrad Passion (16)](https://blog.sweeneyconrad.com/tag/sweeney-conrad-passion) - [Sweeney Conrad People (15)](https://blog.sweeneyconrad.com/tag/people) - [Employee Benefit Plans (14)](https://blog.sweeneyconrad.com/tag/employee-benefit-plans) - [State and Local Tax (11)](https://blog.sweeneyconrad.com/tag/state-and-local-tax) - [Sweeney Conrad Community (10)](https://blog.sweeneyconrad.com/tag/sweeney-conrad-community) - [Advisory (5)](https://blog.sweeneyconrad.com/tag/advisory) - [High Net Worth (5)](https://blog.sweeneyconrad.com/tag/high-net-worth) - [Nonprofit Organizations & Private Foundations (5)](https://blog.sweeneyconrad.com/tag/nonprofit-organizations-private-foundations) - [Business (4)](https://blog.sweeneyconrad.com/tag/business) - [Sweeney Conrad People (4)](https://blog.sweeneyconrad.com/tag/sweeney-conrad-people) - [CAAS (3)](https://blog.sweeneyconrad.com/tag/caas) - [Insider (2)](https://blog.sweeneyconrad.com/tag/insider) - [Real Estate & Construction (2)](https://blog.sweeneyconrad.com/tag/real-estate-construction) - [Recruiting (2)](https://blog.sweeneyconrad.com/tag/recruiting) - [Loca (1)](https://blog.sweeneyconrad.com/tag/loca) - [Locally Owned (1)](https://blog.sweeneyconrad.com/tag/locally-owned) - [Scams (1)](https://blog.sweeneyconrad.com/tag/scams) - [Test (1)](https://blog.sweeneyconrad.com/tag/test) See all ## Contact Us Feel free to [email](mailto:information@sweeneyconrad.com) us or call [425.629.1990](tel:425-629-1990) [Get in touch](https://www.sweeneyconrad.com/preview/get-in-touch/contact-us/) - [What We Do](https://www.sweeneyconrad.com/what-we-do) - [Tax Services](https://www.sweeneyconrad.com/what-we-do/tax-services) - [Client Accounting Services](https://www.sweeneyconrad.com/what-we-do/client-accounting-services) - [Advisory Services](https://www.sweeneyconrad.com/what-we-do/advisory-services) - [How We Do It](https://www.sweeneyconrad.com/how-we-do-it) - [Our Process](https://www.sweeneyconrad.com/how-we-do-it/our-process) - [Industries we serve](https://www.sweeneyconrad.com/how-we-do-it/industries) - [Culture & Community](https://www.sweeneyconrad.com/how-we-do-it/culture-community) - [Giving Back](https://www.sweeneyconrad.com/how-we-do-it/giving-back) - [Partnership Network](https://www.sweeneyconrad.com/how-we-do-it/partnership) - [Who We Are](https://www.sweeneyconrad.com/who-we-are) - [Our People](https://www.sweeneyconrad.com/who-we-are/our-team) - [Mission & Values](https://www.sweeneyconrad.com/who-we-are/mission-values) - [Our Passion](https://www.sweeneyconrad.com/who-we-are/our-passion) - [40+ Year History](https://www.sweeneyconrad.com/who-we-are/history) - [Careers at SC](https://www.sweeneyconrad.com/careers) - [Benefits & Perks](https://www.sweeneyconrad.com/careers/benefits-perks) - [Experienced Professionals](https://www.sweeneyconrad.com/careers/experienced-professionals) - [SC Young Professionals](https://www.sweeneyconrad.com/careers/sc-young-professionals) - [SC Summer Summit](https://www.sweeneyconrad.com/careers/summer-summit) - [Job Opportunities](https://www.sweeneyconrad.com/careers/job-opportunities) - [Get in Touch](https://www.sweeneyconrad.com/get-in-touch) - [Contact Us](https://www.sweeneyconrad.com/get-in-touch/contact-us/) - [Pay Online](https://www.quickfee.com/qsop?company=quickfeeus&creditor=SWEENEY) - [Client Login](https://sweeneyconrad.sharefile.com/) - [Our Insights](https://blog.sweeneyconrad.com/) - [Newsletter](https://share.hsforms.com/189SwWa83QWmQ98wj4A6liQ2bure) ![Sweeney Conrad](https://blog.sweeneyconrad.com/hs-fs/hubfs/raw_assets/public/SweeneyConrad_August2022/images/logo.png?width=358&name=logo.png "Sweeney Conrad") 10210 NE Points Dr. Suite 300 Kirkland WA 98033 [425.629.1990](tel:425-629-1990) [information@sweeneyconrad.com](mailto:information@sweeneyconrad.com) Proud to be a Member [![Allinial Global](https://blog.sweeneyconrad.com/hs-fs/hubfs/raw_assets/public/SweeneyConrad_August2022/images/MemberOfAllinial-Logo_CMYK-globe.png?width=75&height=48&name=MemberOfAllinial-Logo_CMYK-globe.png "Allinial Global")](https://www.allinialglobal.com) Sweeney Conrad is the brand name under which Sweeney Conrad CPA LLP and Sweeney Conrad Advisors LLC provide professional services. 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