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US R&D tax credits

About: US R&D tax credits
About: US R&D tax credits
About: US R&D tax credits

The US R&D Tax Credit

Fuel Innovation and Growth

If you’re driving innovation in the United States, Boast wants to help you fund it by seamlessly maximizing your access to the R&D tax credits you deserve.

What is the R&D Tax Credit?

Internal Revenue Code Section 41 is a federal tax incentive that allows businesses to receive a credit for eligible expenses related to Research and Development (R&D) activities conducted in the United States. 

Established in 1981 and made permanent in 2015, the R&D tax credit encourages companies to invest in innovation by offsetting costs associated with developing new or improved products, processes, software, techniques, formulas or inventions.

Every year, thousand of business across the U.S. use this source of non-dilutive funding to help extend their project runways and stretch their R&D investments further.

Who Qualifies?

Businesses of any size or sector can claim the R&D tax credit, provided they meet these criteria:

Your business must engage in qualified research activities as defined by the IRS
Your business must have incurred eligible research expenses in the current or previous tax years
Your business must be located in the United States

Qualified Research Activities:

About: US R&D tax credits
About: US R&D tax credits

Activities to develop new or improved products, processes, software, techniques, formulas or inventions

About: US R&D tax credits
About: US R&D tax credits

Activities that are technological in nature involving engineering, computer science, biological sciences, etc.

About: US R&D tax credits
About: US R&D tax credits

Process of experimentation to overcome technical uncertainties.

Common Eligible Industries:

About: US R&D tax credits

Software & Gaming

Boast specializes in software and gaming claims. We know what qualifies, and how to get the most from your R&D investments.

About: US R&D tax credits

Manufacturing Companies

Manufacturing R&D is unique. Maximize your claim with Boast experts who understand how to claim manufacturing R&D the right way.

About: US R&D tax credits

Biomedical & Life Sciences

Detailed documentation for biomedical and life science claims are required. Fortunately, Boast works with you to capture eligible work from your detailed records.

About: US R&D tax credits

Energy

Boast experts help maximize energy claims based on your detailed R&D project, financial, and payroll records.

About: US R&D tax credits

Computer Manufacturing

The computer manufacturing industry has been one of the most important and innovative industries.

About: US R&D tax credits

Medical Devices

Medical devices are products that may assist with the diagnosis, cure, mitigation, or prevention of disease or other ailments.

About: US R&D tax credits

Telecommunication Networking

The Telecommunication Network R&D Tax Credit is a federal tax credit available to businesses engaged in research and development activities related to telecommunication networks.

About: US R&D tax credits

Cell Phone Network

The Cell Phone Network R&D Tax Credit is available to companies that develop and deploy new or improved cell phone networks, including those that use new technologies, such as 4G and 5G.

About: US R&D tax credits

Video Game Software Publishing

The Video Game Development Tax Credit (VGDTC) provides a refundable tax credit to Canadian-controlled corporations developing video games that are considered cultural products.

What Expenses Qualify?

The key expenses that can qualify for the R&D tax credit include:

Wages for employees directly working on R&D activities
Supplies and materials used for R&D purposes
Contractor/vendor costs for qualified R&D work
Cloud computing costs for R&D

How is the Credit Calculated?

The R&D tax credit is calculated as a percentage of eligible qualified research expenses (QREs). The rates are:

20% credit for businesses with less than $50 million in gross receipts
14% credit for businesses with over $50 million in gross receipts

The credit can be claimed annually and applied against a company’s payroll tax or income tax liability. Certain startup businesses may also be able to use the credit against their payroll taxes.

Streamline R&D Tax Credit Claims with Boast

Boast provides an innovative software solution to automate and maximize your R&D tax credit claim, while providing expert tax professionals to guide you.

With Boast’s technology and expertise, you get larger, more accurate claims with less time and effort from your team. You can truly accelerate your innovation funding with Boast.

About: US R&D tax credits

Automated time tracking integrated with your existing tools

About: US R&D tax credits

AI-powered expense identification across payroll, cloud, etc.

About: US R&D tax credits

In-house tax experts to review eligibility and file claims

About: US R&D tax credits

Audit protection services to defend claims if needed

Testimonies

What customers say about Boast

“We wanted to pursue an R&D tax credit refund with Boast once we understood the opportunity it posed for us. We love Boast’s technology-first approach which is different from traditional approaches with how it streamlines the process.”

About: US R&D tax credits

Bhaskar Anepu

Co-founder, Smirta

“One of the things I liked about Boast was that I didn’t have to be a domain expert to maximize our output…I still don’t fully understand how it works, but it works perfectly, and that’s what matters.”

About: US R&D tax credits

Weston Baker

CEO and Founder, Morphic

US R&D Resources

About: US R&D tax credits
February 21, 2024 The Ultimate Guide to U.S R&D Tax Credits

Taking advantage of R&D tax credits can help you fuel innovation by offsetting your income…

About: US R&D tax credits
October 4, 2023 Guide to Qualified Research Activities

The IRS outlines a four-part test that activities must pass to be designated an R&D…

About: US R&D tax credits
June 14, 2023 eBook: United States R&E Amortization & Capitalization Rules Explained [2023 edition]

Tax Day came and went this year, but the IRS’s Section 174 rule remained unchanged,…

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