The R&D Tax Credit
The Research and Development (R&D) Tax Credit is a government-sponsored tax incentive offered to companies who create or improve a product or process in the course of their business.
The pace of innovation in software and technology sector is constantly increasing. Companies have to introduce new or improved products to keep consumers engaged in a hyper competitive industry with rapidly changing trends. Technology companies spent over $76 billion on R&D in 2019, which indicates the unmtached innovation potential of this sector.
Advanced technologies like robotics, virtual reality (VR), artificial intelligence (AI), machine learning (ML), and blockchain have pushed more and more companies to invest additional resources into Research and Development activities. Due to high volume of R&D involved in software and technology, companies in this sector are ideal candidates to take advantage of the generous Research & Development (R&D) Tax Credit.
We have often found that companies in the software and technology sector are either unaware of their eligibility for the R&D Tax Credit, or they are under-claiming the credit. Most companies do not realize that a portion of their investment in activities, like developing and testing of products can be recouped through the R&D Tax Credit, which offsets a company’s payroll and/or income tax liability.
Our dedicated software & technology team is comprised of highly experienced software engineers, tax accountants, and attorneys, all of whom are motivated to help your business robustly claim and realize the R&D credit to incentivize further innovation investment.
The Research and Development (R&D) Tax Credit is a government-sponsored tax incentive offered to companies who create or improve a product or process in the course of their business.
Allow our experience to unleash your potential.
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60
Industries Served
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20
Years of Experience
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100
R&D Tax Credit Experts
Allow our experience to unleash your potential.
+
60
Industries Served
+
20
Years of Experience
+
100
R&D Tax Credit Experts