Welcome to our step-by-step wizard to help you check your eligibility for the R&D Tax Credit.
The Federal R&D Tax Credit laws apply to eligible R&D activities. Depending on your date of incorporation, initiation of qualified research and ability to collect contemporaneous documentation, you could be eligible for either a:
- Traditional Credit - for companies that incorporated prior to 1 January 1984 and had 3 or more tax years with qualified research expenditures and revenue between 1 January 1984 and 31 December 1988; or
- Start-Up Credit - for companies that incorporated after 31 December 1983 or had fewer than 3 years with qualified research expenditures and revenue between 1 January 1984 and 31 December 1988.
- Alternative Simplified Credit - for companies that cannot adequately substantiate qualified research expenditures for Traditional or Start-Up credit calculation methods.
To be eligible for R&D activities, your qualified research must meet the Four-Part-Test.
Note: This Wizard is intended as a quick guide and should not be used as a substitute for professional advice. Please contact Swanson Reed for professional advice tailored to your requirements.