R&D Tax Credit for Software Development

Your tech startup doesn’t need to create the next disruptive, advanced system to receive an R&D tax credit for software development.

A big reason the R&D tax credit goes unnoticed is that many small tech startups simply aren’t aware of it or assume only large corporations and tech enterprises are eligible.

Keep in mind that the R&D tax credit is available to any business that “attempts to develop new, improved, or technologically advanced products or trade processes.”, as stated by the IRS.

Additionally, the R&D tax credit may be available to your tech company if you’ve had any employees attend technical meetings or improve existing internal practices and processes. The work of developers and engineers is inherently innovative, so chances are your software development company qualifies for this yearly tax offset.