The Research and Development Tax Credit and the Software Development Industry

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Courtesy of DeviantART.com user hefeigal

Software Development is a hot business for innovation, invention, and creation; three of the characteristics that the federal government and many state governments are aiming to encourage by offering tax credits. They understand that countries thrive on invention, even if
the product or process being created isn’t considered “groundbreaking” in their industry.

Many software and technology developers don’t realize that even their small endeavors–something as seemingly inconsequential as streamlining or improving upon an existing product–could qualify for an R&D tax credit claim. Software development companies lose out on millions of dollars in savings each year because they don’t realize that their ongoing efforts to develop improved capabilities qualify for tax credit support.

That’s why contacting Tax Credit Advisors is important, especially if your company is small or
mid-sized. Our staff has significant experience in recognizing eligible projects and maximizing claim benefits, putting more money back into your company!

Consider whether your company is engaging in any of the following endeavors — you may be eligible for the R&D tax credit:

  • Proprietary Software Product Development
  • Custom Software Development
  • Mobile Apps
  • Website Development
  • Manufacturing Process Control Software
  • Accounting and Financial Software
  • Logistics Management Software
  • Document Management Systems
  • Claims Processing Software
  • Educational Software
  • Content Management Software
  • Database Management Systems
  • Analytical Software
  • Video Games and Game Creation Software
  • Software Drivers
  • Medical and Healthcare Management Software

Even if none of these apply to you and your company, it may be well worth your while to seek a free consultation. The dedicated professionals at Tax Credit Advisors understand how to identify eligible projects and to help you develop documentation to support your claims for the incentives that are intended to help you succeed. Contact Tax Credit Advisors today for a consultation, and begin saving money for your business, and keeping jobs here in North America!