What is a Qualified Research Activity?

By | R&D Tax Credits

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…

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Everykey: The Bluetooth Key

By | R&D Tax Credits

How many times have you had to click “Forgot Password”, as part of the several subscription accounts one has, in the past month? Also, how about trying to find your keys in your purse, bag or reaching for your pocket while attempting to open the house or car door? Good…

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What is a Qualified Research Expense?

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 in the…

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Research and Development Tax Credit: Agriculture & Farming

By | R&D Tax Credits

Many of the activities related to the agriculture and farming industry qualify for the Research and Development Tax Credit. Yet, business owners are unaware of this strategic financial planning tool given that, historically, the credit has been claimed mostly by manufacturing, pharmaceutical and software companies. Agricultural and farming companies continuously…

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Research and Development Tax Credit: Telecommunications

By | R&D Tax Credits

Companies in the telecommunications industry make strong candidates to claim the Research and Development (R&D) Tax Credit. Businesses within this industry create prototypes and conduct process developments on a daily basis. The tax incentive eligibility broadens when companies acknowledge that not only do their development efforts qualify, but also their…

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SolePower: Self-Sustaining Power Sources

By | R&D Tax Credits

How convenient would it be to produce usable and storable energy (that can be used later) from every step taken as you complete your daily activities? SolePower is the company that made this idea a reality. SolePower’s insoles fit into any type of shoe and are all-weather and water resistant….

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Wearable Correctors

By | R&D Tax Credits

How awesome would it be to have your clothes automatically inform you how to improve your running form or prevent injuries? Well, Lumo Bodytech is making this technology a reality. The Palo Alto company has developed several sensors and software which permit a person to improve and enhance their daily…

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