Businesses tend to overlook eligibility for R&D tax credits related to technology investment. Much like technology advances and evolves along with your organization, rules and regulations for R&D tax credits continuously change. It’s always worth reviewing your businesses technology investments to determine if anything qualifies under the credit’s current rules.
Here are the basics of the R&D tax credit and what you need to know to get what your organization deserves. Identifying and properly documenting the R&D costs that qualify for the credit is key to successfully claiming and sustaining this tax benefit. Don’t make assumptions about what is or isn’t eligible — take the time to understand the wide array of products, processes, systems, and platforms that could be eligible. You just might save a lot of money!