Industry Spotlight: Software

Given the broad definition of R&D, research and development, by the IRS, many companies in nearly all industries can qualify for the R&D tax credit. Software companies, in particular, are constantly conducting R&D by using their creativity and innovation to build or improve upon their product offerings. The R&D tax credit is a Federal tax incentive designed to reward companies innovating in America. Below are just a few examples of R&D activities for software companies: Chances are, if your company develops software for sale, lease, or license, your company is conducting research and development. As long as the R&D occurred in the US, you should consider looking into claiming the R&D tax credit. While R&D tax credits are primarily used … Read More