Maybe you’ve heard that somehow a variety of practices associated with the implementation of updated or upgraded software might be considered for the R&D Tax Credits. Needless to say, the benefit is aimed at promoting the advancement of novel and advanced processes and technologies. The credit will help to reduce the uncertainties associated with creativity and recognize foresight.
When analyzing the seven major stages of the Software Development Lifecycle (SDLC), it’s the fourth stage which development and coding entail operations that qualify for special tax credits.
Thus, while the new rules favored commercial software providers, you do not preclude your business solely just because you do not sell software to external parties.…Continue reading