What Are Considered Qualified Research Expenses?
Qualified Research Expenses (also known as QREs) are central to Research and Development (R&D) Tax Credit: they are what can be claimed as a useful expense to obtain the benefit in the US. Although, many businesses end up getting confused about what counts as a qualified expense and what doesn’t. That’s why it’s important to…
The Role of Technology in R&D Tax Credit Claims
The ever-evolving business landscape continuously demands innovative solutions and advancements. Research and Development (R&D) is a crucial aspect of this evolution, pushing the boundaries of discovery and invention. Alongside the importance of R&D, tax credits for these efforts play a vital role in fostering innovation within businesses, from startups to major corporations. In the complex…
IRS extends time to ‘perfect’ R&D tax credit claims
The Internal Revenue Service is once again extending for another year the transition period during which taxpayers have 45 days to perfect a research credit claim for refund before the IRS makes its final decision about the claim. They will now have through Jan. 10, 2025, to perfect the claim. Over a year ago, the…
Navigating the World of R&D Incentives: Key Factors to Consider for Success
Essential Strategies for R&D Incentive Success In the dynamic world of business, staying ahead of the curve often involves extensive research and development (R&D). However, navigating the labyrinth of R&D incentives can feel like embarking on an epic odyssey filled with complexities and uncertainties. But fear not! With the right strategies, this journey can lead…
How Remote Work is Redefining R&D
The Impact of Remote Work on R&D Teams Imagine sitting in your comfortable home office, a hot cup of coffee within arm’s reach, while contributing to groundbreaking research and development projects. This isn’t a futuristic fantasy; it’s the reality for many professionals today. The shift towards remote work, accelerated by the COVID-19 pandemic, has not…