The “research and development tax credit is a tax incentive sponsored by the American government which rewards the firms for carrying out the activities pertaining to the research and development within the US. If you are an owner of an unprofitable technology startup, you can use these tax incentives for reducing your burn rates.
Here at Accelero Corporation, our expert professionals can help you to efficiently reduce the burn rates by more than 8$million by closely working on the government incentive programs.
Do you know that the research and development tax credits can be one of the most lucrative opportunities for your company and can help you reduce your tax liability to a great extent?
As there is an increase in expansions and modifications in the course of the last few decades, your company can significantly benefit from the valuable incentive.
There are a number of factors deciding whether your company qualifies for the Research and Development Tax credit. If your business does any of the activities listed below, it is likely to qualify for Research and Development Tax credit:
• Designs and develops new processes and products
• Improves or enhances the existing processes and products
• Develops upon the existing software and prototypes
Here are two suggestions for you to become eligible for an R&D tax credit:
• Your company must have less than 5$ M in your gross receipt in the credit year
• Your company must not have gross receipts of more than 5 years.
For more information about whether your company qualifies for an R&D tax credit and the process involved in applying for it, contact Accelero Corporation today.
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Our expert consultation team would be happy to answer all your queries.