Due to the high volume of R&D involved in software design and development processes in Life Sciences and Biotechnology, companies in this sector are ideal candidates to claim R&D Tax Credits. A portion of investment in activities, like developing and testing of treatments and therapies, can be recouped through the R&D Tax Credits, which offsets your payroll and/or corporate tax liability. Helping your organization save money on tax credits is a great way to allocate more funding to your bioinformatics data management efforts that are leading your company’s innovation.
In this “Fireside Chat” on-demand webinar, Gary Derheim of PTP spoke with experts from Leyton, consultants and experts in R&D tax credits: Brandon Carroll and Andrew-Dave Simpson. Brandon and Andrew-Dave were able to deep-dive into important questions like:
- What is the four-part test for the tax credit?
- What is Internal Use Software and how can it be included?
- What activities qualify for the credit?
- What are high-risk activities that could be disqualified?
Check out our other recent Life Sciences cloud enablement education!
- Blog: AWS High Performance Compute for Genomics Workloads
- On-Demand Webinar: Data Management – From Zero to Science
- On-Demand Webinar: AWS Storage Gateway for Life Sciences
About Leyton’s Life Sciences Practice
The Life Sciences sector has never played a more important role in solving real-world challenges. This rapidly growing and highly technical industry is constantly transforming the quality of human life through innovations like telemedicine, drug discovery, cell and gene therapy, clinical trials improvements, and more. Advanced technologies such as artificial intelligence (AI), big data analytics, and robotics have also impacted the innovation landscape in this sector.
Many companies in the life sciences and biotech industries are unaware that their day-to-day operations can qualify for dollar-for-dollar tax savings through the Research and Development (R&D) Tax Credit.