R&D tax credit
obsid
Join Date: 2003-09-16 Member: 20909Members
Join Date: 2003-09-16 Member: 20909Members
I had seen that flayra had asked for the US version of the R&D tax credit here (http://forums.introversion.co.uk/defcon/introversion/viewtopic.php?p=81048#81048). I just wanted to let him know, the link below I believe is the part of the US Tax code that is about the R&D tax credit in the US. I am not a CPA though so make sure you get it checked out yourself on how it applies to you.
<a href="http://www4.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000041----000-.html" target="_blank">http://www4.law.cornell.edu/uscode/html/us...41----000-.html</a>
Things to note: Computer software developed only internal use seems to not be allowed (so only stuff that isnt only for internal use applies, like I assume your engine work).
If I read it all right, it means you might get up to 20% of your research expenses as a tax credit. Make sure you talk to someone that knows tax law well, as I dont :).
<a href="http://www4.law.cornell.edu/uscode/html/uscode26/usc_sec_26_00000041----000-.html" target="_blank">http://www4.law.cornell.edu/uscode/html/us...41----000-.html</a>
Things to note: Computer software developed only internal use seems to not be allowed (so only stuff that isnt only for internal use applies, like I assume your engine work).
If I read it all right, it means you might get up to 20% of your research expenses as a tax credit. Make sure you talk to someone that knows tax law well, as I dont :).