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Where Taxpayers and Advisers Meet

R&D tax credit for majority costs?

HarryWest
Posts:4
Joined:Sun Mar 27, 2016 6:17 pm
R&D tax credit for majority costs?

Postby HarryWest » Fri Jul 24, 2020 11:13 pm

If some started a business which for the first year or 2 was purely doing research in the hope of building IP to then use in support of consulting services, does that mean the first 2 years costs would be fully deductible? There would be some grant funding and minimal consulting work providing revenue which means business will profitable, but vast majority of cost would qualify as R&D tax credit? The classification of business when registered would be research /analysis. Thanks!

AdamS93
Posts:268
Joined:Tue Sep 26, 2017 6:28 pm

Re: R&D tax credit for majority costs?

Postby AdamS93 » Sat Jul 25, 2020 10:26 am

On the basis on the information you have provided, even mystic meg couldn't give you an answer.


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