41–50 of 80 posts
Point being, clearly I've been hearing some lies. I hadn't heard of this yet and I'm sad my news bubble is such a bubble.
As an accountant I have had to shoot attempts at claiming this credit down time and time again. Unless you are doing cutting edge/novel research into AI, machine learning, quantum computing, etc you will not qualify for the credit. Think about it this way, unless your research is something you could write a scientific paper on and have it published in a peer reviewed journal, it will not qualify. Also, this is not a…
cde-v is spreading categorically false information to the potential detriment of many entrepreneurs. This comment should be downvoted or flagged.
As an accountant I have had to shoot attempts at claiming this credit down time and time again. Unless you are doing cutting edge/novel research into AI, machine learning, quantum computing, etc you will not qualify for the credit. Think about it this way, unless your research is something you could write a scientific paper on and have it published in a peer reviewed journal, it will not qualify. Also, this is not a…
Replying to my own comment since I'm too late to edit. Just read the regs people, the barriers are not as low as the little bit of anecdotal evidence in this thread are suggesting. https://www.irs.gov/pub/irs-regs/research_credit_basic_sec41...
Earlier quoted context omitted.
Also, it's not necessarily a tech requirement. A restaurant developing a new menu as it tests out recipes is just as much R&D as anything else. No idea why people think R&D needs to be cutting edge tech research...
No... one of the requirements is "research which is undertaken for the purpose of discovering information which is technological in nature"
The layers of control in the current economy seems boundless. Makes me want to join the goldbugs sometimes. Hard money seems so much simpler and freer. An anonymous, portable, fungible, hard to counterfeit and inflate, universal account of previous work value. People give it to you when you give them something or a service they want. It seems like a system of the people, by the people, and for the people.
And after a while, maybe we could pool resources together for projects such as infrastructure, bridges, fire stations, that are too expensive for any single person, but from whom we would all benefit! It would be great! We could all give some of our money for these! Let's call this way of doing things government. Oh wait.
Earlier quoted context omitted.
Also, it's not necessarily a tech requirement. A restaurant developing a new menu as it tests out recipes is just as much R&D as anything else. No idea why people think R&D needs to be cutting edge tech research...
No... one of the requirements is "research which is undertaken for the purpose of discovering information which is technological in nature"
As an accountant I have had to shoot attempts at claiming this credit down time and time again. Unless you are doing cutting edge/novel research into AI, machine learning, quantum computing, etc you will not qualify for the credit. Think about it this way, unless your research is something you could write a scientific paper on and have it published in a peer reviewed journal, it will not qualify. Also, this is not a…
I have no idea why this is the top most upvoted comment. I know of many companies doing nothing near the level of cutting edge R&D work that the poster claims is necessary, but have gotten substantial tax breaks from this application. cde-v is spreading categorically false information to the potential detriment of many entrepreneurs. This comment should be downvoted or flagged.
HN thinks if you can shoot something down it means you're smarter than that thing. Therefore the most negative sentiment is the most intelligent, and should be voted to the top.
Earlier quoted context omitted.
Think about it this way, unless your research is something you could write a scientific paper on and have it published in a peer reviewed journal, it will not qualify. That's not true at all. In the US, at least. As a tax lawyer, I've had to have this conversation quite a few times with accountants who misread the law and don't think it applies to their clients. The US R&D credit has 4 basic requirements, and "cuttin…
I agree with all but your first sentence... I think you are just underestimating what topics can have peer reviewed scientific papers written about them. http://ac.els-cdn.com/S235197891500013X/1-s2.0-S235197891500... I was more taking a shot at the companies who do a redesign/facelift of their website/customer portal, or a bank struggling to integrate an off the shelf trading tool into their systems.
As an accountant I have had to shoot attempts at claiming this credit down time and time again. Unless you are doing cutting edge/novel research into AI, machine learning, quantum computing, etc you will not qualify for the credit. Think about it this way, unless your research is something you could write a scientific paper on and have it published in a peer reviewed journal, it will not qualify. Also, this is not a…
Think about it this way, unless your research is something you could write a scientific paper on and have it published in a peer reviewed journal, it will not qualify. That's not true at all. In the US, at least. As a tax lawyer, I've had to have this conversation quite a few times with accountants who misread the law and don't think it applies to their clients. The US R&D credit has 4 basic requirements, and "cuttin…
As an accountant I have had to shoot attempts at claiming this credit down time and time again. Unless you are doing cutting edge/novel research into AI, machine learning, quantum computing, etc you will not qualify for the credit. Think about it this way, unless your research is something you could write a scientific paper on and have it published in a peer reviewed journal, it will not qualify. Also, this is not a…
Think about it this way, unless your research is something you could write a scientific paper on and have it published in a peer reviewed journal, it will not qualify. That's not true at all. In the US, at least. As a tax lawyer, I've had to have this conversation quite a few times with accountants who misread the law and don't think it applies to their clients. The US R&D credit has 4 basic requirements, and "cuttin…