What is a Qualified Research Activity?

By | R&D Tax Credits | No Comments

For an activity to qualify as a Qualified Research Activity (QRA) it has to fulfill the “IRS Four-Part Test”. The “IRS Four-Part Test” has four requisites: New or Improved Business Component Technological in Nature Elimination of Uncertainty Process of Experimentation The following list enumerates several activities that may in whole…

Read More

What is a Qualified Research Expense?

By | R&D Tax Credits | No Comments

The IRS defines Qualified Research Expenses (QREs) as the sum of “in-house research expenses” and “contract research expenses”. Those in-house research expenses include Wages: Taxable or subject to self-employment tax of individuals performing, directly supervising or supporting the qualified research. Supplies: Amount paid or incurred for materials used in the…

Read More