News & Insights
Recent Posts
- The Pros and Cons of Alternative Investments for Nonprofits
- The Audit Findings That Never Seem to Go Away – And How Municipalities Can Fix Them
- Looking for Funding? Consider SBA Loans
- Protect Yourself From Fraudsters Impersonating the IRS and Other Tax Scams
- Self-Employed? Don’t Overlook a Roth IRA
- Knowing What’s Coming: Why Every Local Government Needs a Capital Improvement Plan
- Is an Advisory Board the Right Solution for Your Nonprofit?
- Three Key Considerations for Effective Grant Management in Local Governments
Research and Development Tax Credits
In order to reward and drive innovation, the federal government offers an incentive through the Research and Development Tax Credit (R&D). Many companies are either unaware of this credit or fail to max out the credit’s potential. What companies may miss is qualifying expenses that don’t take place in traditional cost centers or costs associated with improving products or designs currently in place, as many associate R&D with only new products.
Examples of activities with qualifying expenses include:
- Improving or developing next generations to innovate products
- Custom Software Applications
- Replacing legacy telephone services with newer technology (such as VOIP)
- Improving product safety, quality or durability
- Developing custom communication networks for specific uses and layouts
- Testing materials and prototypes to increase product performance
- Designing cloud-based platforms
- Improving infrastructure for network security
The materials provided in the News & Insights section are for general informational purposes only and may not reflect the most current legal, tax, or financial developments. While we strive to ensure accuracy at the time of publication, Maner Costerisan does not guarantee that the information remains up-to-date or free from error. We recommend consulting directly with a Maner Costerisan team member to confirm the applicability and relevance of any information to your specific situation.