![]() However, many businesses fail to do so because they misunderstand qualified research expenses or do not believe the work they do counts as a qualifying research activity. Any company that performs a “ qualifying research activity” (QRA) within the US can claim the credit. Research expenses claimed by companies under the R&D tax credit are called qualified research expenses (QREs). What Are Qualified Research Expenses (QREs)? The Research & Development Tax Credit is a dollar-for-dollar federal tax credit that incentivizes businesses to develop products and services by mitigating their liability for R&D costs come tax time. But such innovation requires companies to invest in expensive research and development and assume the risk that such R&D may not even produce a marketable end product. If companies wish to outperform their competitors, they must offer customers newer and better products and services than those already on the market. ![]() ![]() Innovation and improvement are the lifeblood of business. ![]()
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