The R&D tax credit serves as a federal benefit providing a direct reduction in the tax obligations of a business, designed to stimulate research and development endeavors. This credit is determined by assessing a firm’s qualifying expenses related to wages, supplies, and contracted research. A spectrum of operations and expenditures can leverage R&D incentives, encompassing the development of software, payroll costs connected to R&D tasks, the establishment of novel manufacturing methods, and the innovation of products, to name a few.