Many people see the term “research” or “R&D” and think they don’t qualify for the credit, but this is likely not true under the U.S. tax definition for the credit. Some are aware the incentive exists, but are uncertain how to take full advantage of the incentive. The U.S. has put these incentives in place and wants you to take full advantage of them to continue steady and strong improvement and innovation in the Unites States.
An organization can conduct activities to improve processes, products, or improve and/or develop software solutions to qualify for the tax credit. Even better, this is not a one-time-only incentive. This is an annual incentive that can be claimed each year the taxpayer performs qualified activities.
Select an industry segment below for industry specific information on qualifying activities, case studies, and specific activity examples.