MyShake: Cell Phone Earthquake Alerts

By | R&D Tax Credits

Last February, seismologists from the University of California, Berkeley developed an app called MyShake. The application allows anyone to monitor seismic activities from the convenience of a cell phone.  MyShake monitors seismic activity by screening potential earthquakes or alerting the user when one is underway. With more than 200,000 downloads,…

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Drone Delivery Service

By | R&D Tax Credits

Zipline International Inc. is a startup that specializes in building drones that serve as delivery service providers. Zipline’s drones deliver medical supplies to hospitals and clinics located in secluded areas that aren’t accessible by land. Even though there are several companies in the drone delivery service industry, Zipline intends to…

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A Dollar Store on the Go!

By | R&D Tax Credits

Dollar stores are an extremely successful business model, they keep expanding to every strip mall in the US. The biggest dollar store companies had sales of approximately $40 billion in 2015. They are the “go-to” place to buy knick knacks and random items. Great news! Now you are be able…

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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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The IRS Four-Part Test

By | R&D Tax Credits

To qualify for the R&D Tax Credit an activity must meet all four criteria of the “Four-Part Test”. The IRS Four-Part Test requires: a new or improved business component (product, process, technique, invention, formula or software), the business component to be technological in nature, some kind of elimination of uncertainty,…

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