Re:Software firms across US facing tax bills that threaten s...
by jdmichal on Tuesday April 18, 2023 @11:48PM
(#35624044)
> It's research (as in new knowledge) and development (as in new products based on existing research and knowledge).
This is... Exactly what I said?
> And yes, a carpenter developing new cabinet designs absolutely would qualify for the R&D credit (and their salary could fall under the scope of this rule change).
I feel I pretty clearly alluded to the physical process of turning wood into a cabinet, not developing novel new techniques for doing such.
It's research (as in new knowledge) and development (as in new products based on existing research and knowledge). Software generally falls into the latter category. A scientific process is not required but does make it easier to document qualification for the R&D credit.
And yes, a carpenter developing new cabinet designs absolutely would qualify for the R&D credit (and their salary could fall under the scope of this rule change).