R&D Tax Credits may be available for your business!
Does your business improve a process or product for the automotive industry? Do you work to make an automotive product cleaner or more efficient? Or, perhaps you provide technical solutions that make production work more efficiently. If you are conducting any of these activities, you could be taking advantage of the research and development (R&D) Tax Credit.
Key criteria include Development, Experimentation, Innovation and Advancement.
New equipment is enabling Auto Repair and Auto Body Specialists to develop their practice and procedures to impact their business in areas they were not doing before (Development). Most importantly they are giving their clients more options (Experimentation). These are new procedures that were not available before! The state of technology has changed and improved drastically in recent years (Innovation / Advancement).
- New auto diagnostic equipment allows the shop to upload software to repairman’s computer and help him identify car engine and other problems
- New computerized alignment equipment
- New powerful lifts
- Software to measure / analyze car damage and give repair estimates
- Software (or subscription service) to access automakers data base
- Software to sync with Insurance companies to transfer information to help determine what insurance covers and give customers options on what repairs can be made at what cost
- Websites that provide research tools and information
New Techniques for Complex New Car Technologies
- Shops must develop new procedures to effect repairs on safety features such as lane warning systems, automatic stopping systems, automatic parking and in the future driverless vehicles.
- Providing special after-market features: stronger bumpers, spoilers, LED lights, upgraded interiors, new paints, fancy wheels.