Industry: Medical Devices
Company Size: 40 Employees
Annual Revenue: $12M
R&D Tax Credit Savings: $250,000
Challenges in Medical Devices
A medical device manufacturer specializing in surgical instruments and wearable health technology was investing heavily in design enhancements, biocompatibility testing, and prototype development. They were refining sensor accuracy, durability, and sterilization techniques, but were unaware that these activities qualified for R&D tax credits.
While their engineering team frequently iterated on product improvements, they had never tracked these efforts systematically for tax credit eligibility.
Our Approach
1). Product Development Evaluation: Identified qualifying R&D activities such as prototyping new device designs, testing biocompatible materials, and enhancing product functionality.
2). Expense Documentation: Captured wages for biomedical engineers, mechanical designers, and testing specialists, along with prototype material and clinical testing costs.
3). Audit-Ready Study: Created an IRS-compliant report detailing the company’s research methodology, design iterations, and clinical testing processes.
4). Long-Term R&D Strategy: Established best practices for tracking innovation efforts to ensure continued R&D credit claims.
Outcome
- Secured a $250,000 R&D tax credit, significantly reducing tax liability.
- Enabled reinvestment into next-generation medical device advancements and regulatory approvals.
- Provided a structured documentation system for ongoing R&D projects, ensuring continued tax savings.
Unlock Your R&D Tax Credits Today
At Credits Granted, we help medical device companies claim valuable R&D tax credits with full IRS compliance.
Want to see if your company qualifies? Schedule a Free Consultation today.
