What is a Database & Directory Publishing Tax Credit?
A Database & Directory Publishing Tax Credit is a tax credit that can be claimed by businesses that produce databases and directories. The credit can be claimed by many organizations of any size, including sole proprietorships, partnerships, corporations, and other entities for costs incurred in the development, production, innovation, collaboration, and marketing of the database or directory.
To be eligible and enable easy access to the database R&D credit, the R&D data cloud or directory must be made available with easy access to the public on a subscription basis and must contain original content that is not available from any other source. The database or directory must also be updated on a regular basis.
Eligible costs include salaries and wages of data scientists and other employees, advertising and promotion, new technologies expenses, lab instruments, software access, data science, and the cost of goods sold.
How We Can Help
Boast offers a superior, more efficient way for companies to reclaim all of their revenue-sensitive tax refund deductions. Businesses frequently struggle to claim their tax refunds, but Boast makes the procedure simple. Clients can get more money back in less time and with fewer risks using our technology platform and a team of specialists.
Automated R&D Tax Credits for Database & Directory Publishing
The Boast platform gathers data from your technical and financial systems to identify and categorize eligible projects, time, and expenses—estimating along the way instead of only at the end—and getting you more money, faster, for less time, and risk.
- Time Tracking
- Audit Evidence
- Tax Forms
Frequently Asked Questions
Q:Is my small business entitled to additional research tax credits?
Q:Which documents are required to claim the R&D tax credit?
- Documentation of your expenses related to R&D activity, such as invoices for equipment or software purchases, computer science expenses, labor costs, and other relevant industry expenses.
- A detailed description of your company’s R&D activity, including the specific project or process being researched and developed, as well as the expected outcome of the research or data science.
- A detailed explanation of how your R&D data and activity meets the requirements for the credit, such as how it is intended to advance technological knowledge or improve industry functions.
- If you are claiming the credit for the first time, you will also need to submit a completed Form 6765, Credit for Increasing Research Activities, with your tax return.
Q:Do I qualify for the R&D tax credit?
- You must have incurred eligible data research and development expenses in the current or previous tax year.
- Your business must be carrying on a trade or organization in the U.S., Canada, or other eligible countries that have a government R&D tax credit program.
- Your research and development activities must be undertaken with the intention of earning income from the organization or business.
- Your R&D must be undertaken for the purpose of developing new technology or improved products, processes, data science, opportunities, or services.
- Your research and development activities must provide some degree of scientific or technological uncertainty.
- Your R&D must be systematic, planned, and carried out in a controlled manner by scientists or other relevant professionals.
Q:What expenses are not eligible for the R&D tax credit?
Your free 1-hour consultation includes a detailed review of our platform, your projects, processes, and financial data by one of our R&D Tax experts.
Talk to one of our experts to see how outsourcing your R&D tax claims to Boast can get you more money back from the government and help you regain the time you need to run your business.
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