To qualify for the Research & Development Tax Credit each year a taxpayer does not need to be engaged primarily in R&D nor does the taxpayer need to be in a positive tax position (recent changes allow for “start-up” type businesses to monetize the R&D Tax Credit via a payroll tax offset).
Could You Benefit from a R&D Tax Credit Analysis?
Year-End Planning Resources
- Do you have technical-type employees developing software or creating/improving upon products or processes in the United States?
- Do you incur U.S.-based contractor payments, supplies, or cloud computing expenses (AWS, Google Cloud, etc.) for developing software or creating products in the United States?
- Do you pay income taxes and/or were incorporated within the past five years?