Surviving an IRS Audit – Qualifying Expenses

By | R&D Tax Credits

A company is able to obtain benefits from the Research and Development Tax Credit as long as they have Qualified Research Expenses (QREs). Qualifying Expenses The IRS defines Qualified Research Expenses (QREs) as the sum of “in-house research expenses” and “contract research expenses”. Those expenses include: Wages: Taxable or subject…

Read More

Surviving an IRS Audit – Qualifying Activities

By | R&D Tax Credits

Qualified Research Activities (QRA) are an integral part of obtaining the Research and Development Tax Credit. In order for your company to optimize its R&D credits, it must have qualifying activities taking place within its business process. Qualifying Activities For an activity to qualify as a qualified research activity (QRA)…

Read More

Documentation Required to Qualify Research Expenses

By | R&D Tax Credits

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…

Read More