R&D Tax Credit for Internal-Use Software (IUS)
In the era of the digital age, there are few areas of our lives which are not impacted by the use of technology. The business world, in particular, is moving faster and becoming more global, more mobile, and more digitized. Ultimately, as technology advances, the digitalisation of the corporate workplace is inevitable.
As a result of this digitalization, many companies have internal-use software (IUS) systems in place. To clarify, IUS includes software that has been acquired, internally developed, or modified exclusively to meet the entity’s internal need. Nonetheless the question remains, can companies capitalize on the costs incurred in developing this type of internal software?
Our latest video tutorial explores this question and covers the qualifications for R&D Tax Credit for internal-use software (IUS).
Watch below, or alternatively watch on YouTube at: https://www.youtube.com/watch?v=G9brpOrqkRc
Want more like this?
Check out our series so far:
Claiming the Texas R&D Tax Credit through the Franchise Tax Credit