Furniture & Cabinet Manufacturing
Research and Development Tax Incentives for the Furniture & Cabinet Manufacturing Industry
Many furniture and cabinet making companies are unaware that the government offers generous research and development (R&D) incentive programs. Or, if they are aware of the R&D Tax Credit, they may still fail to take full advantage due to misconceptions about the types of research and development activities that qualify. The fact is that a broad range of common furniture and cabinet manufacturing practices will qualify for the credit under the Internal Revenue Code’s definition of research and development. R&D is not limited to the work of scientists. Furniture and cabinet industry designers, tool makers, machinists, and others often spend a substantial portion of their time developing superior designs and manufacturing practices in an effort to remain competitive. There is a strong chance that you would benefit from an R&D Tax Credit study. Let alliantgroup’s furniture and cabinet manufacturing experts help you claim the credits that you deserve!
Examples of Innovations Eligible for R&D Tax Incentives Include the Following:
- Designing and developing new or improved products
- Conceptualizing requirements and specifications
- Developing prototypes and samples
- Researching with respect to materials:
- Aluminum / Magnesium / Stainless Steel
- Wood / Plywood Shell
- Plastics
- Granite
- Glass
- Designing and Developing:
- Coating materials and systems
- Frames and frame strength
- Fabrics and fabric finishes
- Structural strength and integrity
- Effect on fabrication process
- Adherence to regulatory requirements
- Reducing costs
- Researching the following furniture characteristics:
- Stackability
- Weight
- Durability
- Environmental effects
- Washing Smoothness / softness
- Rigidity
- Feel or texture
- Stretch and flexibility
- Shrinkage & recovery characteristics
- Longevity
- Resistance to:
- Scratching
- Rusting
- Corrosive factors
- Bacteria
- Fire
- Tearing
- Washing / Water damage
- Heat
- Off-gassing
- Oxidation
- Polishing
- Producing the following processes:
- Designing and developing cost-effective and innovative operational processes
- Integrating new materials to improve product performance and manufacturing processes
- Determining tooling requirements and optimal placement of equipment
- Evaluating and determining the most efficient flow of materials
- Designing and evaluating process alternatives
- Designing, constructing, and testing product prototypes
- Developing processes that would meet increasing regulatory requirements
- Reducing labor costs
- Alternative material testing
- Achieving compliance with changing emissions laws and regulations
- Streamlining manufacturing processes through automation
- Increasing manufacturing capabilities and production capacities
- Developing and Implementing new / improved safety enhancements
- Developing new applications
- Improving product quality
- Implementing new production standards and quality assurance processes
- Improving yields
- Reducing manufacturing times
- Optimizing manufacturing processes
- Increasing operating and economic efficiencies
- Improvements in Metalworking
- Casting
- Forging
- Welding
- Amalgamating
- Grinding
alliantgroup’s Furniture and Cabinet Manufacturing Industry Specialization Team
In order to better serve manufacturers, alliantgroup, LP has developed an Industry Specialization Program that focuses on the qualification and quantification of R&D tax benefits for companies operating in the many manufacturing industries, including furniture and cabinet making. alliantgroup’s Manufacturing Industry Specialization Group employs individuals who have educational backgrounds and practical experience within the disciplines of manufacturing engineering, industrial engineering, mechanical engineering, electrical engineering, and metallurgy. This group has qualified and quantified credits for firms ranging from small shops to large, multi-national, publicly traded companies.
Manufacturing R&D Tax Credit Whitepaper
Download our free Manufacturing R&D Tax Credit white paper to better understand recent regulatory changes and IRS requirements.
