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Life Sciences

Keeping Your Financials Healthy

The professionals at Anchin understand the important role the Life Sciences industry has in the future of health care, both nationally and globally, and we provide strategic advice for our clients’ continued growth and success. Our dedicated industry team includes audit, tax and advisory professionals with years of Life Sciences experience identifying issues and solving problems for every type of business within the industry, including:

  • Pharmaceutical companies
  • Medical device manufacturers
  • Biotech companies
  • Medicinal chemistry companies

Services include:

  • Accounting and auditing
  • Cash flow projections
  • Flash reports
  • Gross profit by product lines
  • Chargeback analysis
  • Manufacturing and financial information
  • Systems recommendations
  • Mergers and acquisitions
  • Cost containment analysis
  • Tax planning
  • Tax credits and incentives
    • Research and Development tax credits

The U.S. medical device industry (also referred to as the medtech industry) is not only a source of life-enhancing and sustaining equipment but also a major driver of U.S. economic strength. The U.S. remains the largest medical device market in the world with revenue of around $110 billion, representing more than 30% of the total global market. The U.S. medical device industry has been able to maintain its competitive advantage through continuous development of new products, often partnering with companies in related industries including: microelectronics, telecommunications, instrumentation, biotechnology, and software. U.S. inter-industry collaborations have led to dramatic advancements for patient care in recent years including development of neuro-stimulators, biomarkers, robotic assistance, artificial retina (bionic eye), bone-cell generation and 3D printed exoskeletons to name a few.

Since the industry is fueled by innovation and the ongoing quest for better ways of treating and diagnosing medical problems, many of the development activities performed by the employees of companies in this space will qualify for R&D tax credits.

Anchin’s professionals understand the important role the medical device industry plays in the future of healthcare and the U.S. economy. Our industry experience, attention to detail and expert judgment result in accurate, highly defendable tax credit calculations. Our dedicated team includes audit, tax and advisory professionals with years of experience identifying issues and solving problems for every type of business within the medical device industry subsectors, including:

  • Electro-medical equipment
  • Irradiation apparatus and diagnostic imaging equipment
  • Surgical and medical instruments
  • Artificial joints and orthopedic appliances
  • Surgical supplies
  • Dental equipment and supplies

Our medical device industry R&D team ensures that our clients benefit from all of the incentives available to them. Anchin helps clients assess their R&D tax credits at all phases of their business, from the time they first consider entering a new market (white space evaluation) and throughout the product lifecycle. We are particularly skilled and experienced at identifying qualifying projects and initiatives in each area of your business and are experts at examining and capturing all allowable expenses towards your company’s research credit.

Anchin works with clients interested in claiming the R&D credit for the first time and those who have difficulty meeting the contemporaneous documentation requirements needed to support their R&D claim. We also assist clients who have had a significant portion of their R&D claim disallowed and those who need to reassess their R&D credit calculation because the nature of their business has changed.

Does your company qualify for Research and Development (R&D) tax credits? The life sciences industry, particularly within the areas of pharmaceuticals and biotechnology, is in a constant state of flux. Due to the high level of innovation, many of the developmental activities performed by companies in the industry can qualify for the R&D tax credit.

Anchin’s professionals understand the important role the life sciences industry has in the future of health care, both nationally and globally. We also recognize the issues and opportunities facing businesses in the industry, such as data security and the effects of healthcare reform and regulations. Our dedicated team includes audit, tax and advisory professionals with years of experience identifying issues and solving problems for every type of business within the life sciences industry subsectors, including:

  • Pharmaceutical companies
  • Generics manufacturers
  • Medical device manufacturers
  • Biotech companies
  • Medicinal chemistry companies

Our life sciences industry R&D team ensures that our clients benefit from all of the incentives available to them. Anchin helps clients assess their R&D tax credits at all phases of their business, from the time they first consider entering a new market (white space evaluation) and throughout the product lifecycle. We are particularly skilled and experienced at identifying qualifying projects and initiatives in each area of your business and are experts at examining and capturing all allowable expenses towards your company’s research credit.

Anchin works with clients interested in claiming the R&D credit for the first time and those who have difficulty meeting the contemporaneous documentation requirements needed to support their R&D claim. We also assist clients who have had a significant portion of their R&D claim disallowed and those who need to reassess their R&D credit calculation because the nature of their business has changed.

To learn more about Federal and State Research and Development tax credits.

Success Stories

News

  • New Jersey Angel Investor Tax CreditMay 24, 2017

    New Jersey has amended and expanded the rules for claiming the Angel Investor Tax Credit. The Angel Investor Tax Credit provides for a tax credit equal to ten percent (10%) of the qualified investment made by a taxpayer in a New Jersey emerging technology business.

  • New York Announces Passage of State BudgetApril 25, 2017

    Governor Andrew M. Cuomo announced the passage of the 2018 State Budget (“Budget”) which includes some interesting tax provisions.

  • Is a U.S. ‘Patent Box’ a Good Idea?May 19, 2016

    Yair Holtzman, Practice Leader of Anchin's Research and Development Tax Credits Group, Life Sciences Industry Group and Chemicals and Energy Industry Group, shares his thoughts on the proposed "patent box" regime.

  • New York City-Corporate Income, Miscellaneous Taxes: Authorization for Biotechnology Credit Extended for Three YearsOctober 7, 2015

    The Biotechnology Tax Credit allows qualified emerging technology companies (QETCs) specializing in biotechnology to claim a tax credit against the General Corporation Tax and Unincorporated Business Tax for amounts paid or incurred for certain expenses in New York City.

  • The R&D Tax Credit — A Catalyst For Life Sciences InnovationFebruary 25, 2015

    For companies in net loss positions, the R&D credit can be carried back one year and carried forward for 20 years until it can be used. In addition, similar credits and other incentives are offered by 38 states, six of which offer refundable credits to attract new jobs and industries to the region.

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