Philly Tech Connect by Philadelphia Tech Entrepreneurs

Make Your Funding Go Further in Your Early Stages

May 2, 2024

Morgan Doyle, Associate Director of Business Development at Corporate Tax Incentives, discusses how startups can benefit from Research and Development Tax Credits, including qualification behaviors, expenses, revenue exclusions, and payroll tax benefits. The podcast dives into the process and flexibility of filing for these credits, while highlighting the exclusions and criteria for startups to maximize financial outcomes.

13:21

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Episode guests

Morgan Doyle

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Episode notes

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Quick takeaways

Startups, even pre-revenue, can benefit from research and development tax credits in sectors like software development.

Claiming research and development tax credits involves a feasibility phase and calculating expenses on technical projects and employee payroll.

Deep dives

Incentivizing Innovation and Research

Tax credit programs incentivize certain behaviors and reward companies for innovation. The research and development tax credit aims to stimulate innovation within the US by rewarding businesses for employing technical labor. Startup founders, even those in the pre-revenue stage, can benefit from these niche opportunities and potentially gain significant advantages in sectors such as software development. Companies engaging in hard sciences, architecture, engineering, biotech, manufacturing, and especially software activities, qualify for these tax credits.

Introduction

2min

Leveraging Research and Development Tax Credits for Software Startups

3min

Exploring the Process of Research and Development Tax Credits for Companies

3min

Flexibility and Timelines in Filing Statements of Eligibility

2min

Exploring R&D Tax Credit Eligibility and Exclusions for Startups

4min

Morgan Doyle is a Philly Tech Entrepreneurs community member as well as the Associate Director of Business Development at Corporate Tax Incentives, a tax consultancy firm specializing in incentives that provide direct financial savings to businesses, even startups. Morgan joins the pod to explain how even pre-revenue companies can benefit.

📌 Timestamps:
00:00:00 - Introduction to Research and Development Tax Credit Programs
00:01:27 - The Research and Development Tax Credit for Software Companies
00:02:53 - Qualifying Behaviors for Startups
00:04:12 - Qualifying for R&D Credits
00:05:35 - Discovery Call and Feasibility Phase
00:07:09 - Expenses in Developing and Researching
00:10:08 - Revenue Exclusion and Startup Provision
00:11:50 - Payroll Tax and Employee Exclusions
00:13:07 - Produced by Lifetime Value Media

🔸 Connect with Morgan:
LinkedIn: https://www.linkedin.com/in/morgan-doyle/

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🎬 This content was produced and edited by Lifetime Value Media.
Learn more at: https://www.lifetimevaluemedia.com

#PhillyTechConnect #StartupChallenges #EntrepreneurialJourney #TechInnovation #Philadelphia

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