The R&D Tax Credit is designed to give businesses of all sizes a boost to their bottom line. This credit can help you continue to grow and scale your business, unlocking its true potential. With the right planning, you can benefit from the R&D Tax Credit, allowing your business to succeed.
Do you develop new or improved products, processes, techniques, software, or formulas? If you answered yes, then you may qualify for the Research & Development (R&D) Tax Credit. The R&D credit is a dollar-for-dollar offset against tax liability and can lower your tax expense and improve cash flow. Even if your project is unsuccessful or does not reach the marketplace, you may still qualify for the credit. Companies of any size can benefit from the R&D credit, so don't miss out on this lucrative strategic tax planning tool.
Numerous activities regularly performed by companies in the Software & Technology industry will qualify for the R&D tax credit. Examples of activities (non-exhaustive) that will potentially qualify for the credit include:
- Development of new constructs, architectures, or algorithms for the initial release of an application software
- Development of new database management techniques for the initial release of an application software
- Development of system software
- Development of an operating system
- Development of compilers
- Development of proper resolution of software development uncertainties related to process scheduling, memory management designs, or instruction execution optimization
- Development of specialized technologies including image processing, artificial intelligence, or speech recognition
- Development of software as part of a hardware product wherein the software interacts directly with that hardware in order to make the hardware/software package function as a unit
Don't wait - get started today and see if you qualify for the R&D Tax Credit. With the right planning, you can unlock your business's potential and increase its cash flow. Get started today and start benefiting from the R&D Tax Credit.