What is Database Storage R&D Tax Credit?
The Database Storage R&D Tax Credit is a federal tax credit that can be used as tax relief to offset the cost of research and development activities related to database storage technologies. The credit is intended to encourage companies to invest in new and innovative data storage technologies that can help improve the efficiency and effectiveness of their operations.
To be eligible for the credit, a company must have qualifying expenditure related to the development or improvement of a database storage technology. Qualified research expenses include wages paid to the data scientist and other employees who are engaged in qualified research activities, as well as the costs of supplies and equipment used in those activities.
It can also be used to offset the costs of designing, developing, and testing new database storage technologies. It can also be used to offset the costs of both in-house and contract research expenditures, cloud and data costs, as well as the costs of deploying and using those technologies in a business setting.
How We Can Help
Boast gives cutting-edge organizations the ability to claim tax credits for their database storage research and development expenses. Our team of engineers and accountants uses our unique software to help you prepare and estimate your claims. This allows you to submit your claims faster, more accurately, and with bigger reimbursements. After using Boast, our clients have greater cashback from R&D with fewer audit risks.
Automated R&D Tax Credits for Database Storage & Backup Software 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:What are Qualified Expenses for the Database Storage R&D Tax Credit?
- Wages paid to employees working on the project
- Contract labor expenses
- Software development costs
- Hardware development costs
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.
Fill out the form to schedule your demo.