What is the Office Software R&D Tax Credit?
The R&D Tax Credit is a United States government incentive that can be enjoyed by businesses who engage in research and development (R&D) for office software. This tax credit is designed to encourage organizations to invest in creating productivity programs and tools by offsetting the cost of software publishing or improvement. It can be claimed against the costs of salaries, raw materials, and other expenses incurred during the R&D process.
To qualify for the R&D Tax Credit, office software businesses must possess an existing product or service that they seek to improve through R&D. Additionally, companies must demonstrate that they are engaged in a qualified activity like designing, developing, or testing new productivity software. This tax credit is available to both small and large businesses.
How We Can Help
Boast helps inventive businesses recoup their R&D expenses from the government. Our team of engineers and accountants uses an AI-powered platform to proactively design and evaluate tax claims throughout the year. With this bespoke program, organizations can submit claims faster, accurately, and with bigger reimbursements. It also lowers the risk of tax audits.
Automated R&D for Operating Systems & Productivity 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:Is my company eligible for the operating system tax credit?
Q:How do I claim the credit?
- It is innovative, utilizing a new or unique approach to solving a problem
- It is adaptive, designed to work in changing environments or with changing data
- It is capable of performing complex calculations or processes
- It is designed to operate in real-time or near real-time conditions
- It has special security features not typically found in similar products in the productivity software publishing market
Q:What expenses are eligible for the credit?
Q:What are examples of qualified activities?
- Developing new or improved software applications and services
- Designing and developing a new or improved database
- Designing and developing a new or improved user interface
- Optimizing existing codes to improve performance or reduce defects
- Automating manual processes to improve efficiency
- Developing tools or utilities to support software development
- Conducting research on the feasibility of new ideas or approaches
- Prototyping new ideas or approaches
Q:Can I claim the credit if I outsource my software development?
Q:Can I claim the credit if my software is not yet completed?
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.