You can’t read headlines on any given day without seeing technology everywhere. Social Media, Big Data, Cyber Security, Self-Driving Cars… the list goes on! You are also likely reading those headlines on the latest and greatest mobile device. Even if you don’t read the articles, you have likely come to realize that the software and technology industry has become a driving force of the US economy. Don’t take our word for it. At the start of 2018, technology positions that American companies were looking to hire included: full stack developers, data scientists, agile coaches, and information security analysts. Don’t believe me? Read here, here, or here.
Businesses aren’t just seeking to hire more people with software and technology backgrounds, they are also spending more on technology like a basic utility to run their business. Along with the power bill and water bill, there is a good chance companies are cutting a check for a number of cloud hosting providers to run websites and cloud-based solutions to serve clients.
The bottom line: Even if you are not a software development company, odds are you are spending cash to keep your business running, enhance your products and services, and position yourself in an ever-crowded marketplace. Wouldn’t it be great if you could recoup some of that investment?
There is a way you can do it! At alliantgroup, we have helped thousands of clients claim the research and development tax credit. Even better, as of 2016, the government started acknowledging what the businesses had known for a while… you can’t run your company without software expenses. Since then, the law has changed to make it easier to recoup those dollars as research and development, even for companies that don’t fit the mold of the up-start mobile application developer working in a shared business incubator.
Let alliantgroup help you determine if those expenses can turn back into an opportunity to reinvest in yourself. In future posts, we’ll dive in to what the R&D Tax Credit is about, and how it can help reward companies with software and technology investment.