Golden Mean Posted January 5, 2007 Share Posted January 5, 2007 Greetings Fellow Developers! As tax season has just arrived for 2006, I was wondering if anyone was familiar with the tax rules for writing off research & development of software solutions. If this is possible: Can I write off time spent doing development? What documentation is required? How do you determine what amount or rates to use? Do you have to be incorporated? vs. Sole proprietor? If anyone is familiar with this topic and is willing to share I'd be most Thankful as well as others I'm sure! Thanks for your consideration. Will Link to comment Share on other sites More sharing options...
Vaughan Posted March 12, 2007 Share Posted March 12, 2007 Here in Australia, you can only write off expenses against income generated: so unless a project has generated income you've got nothing to claim against. Link to comment Share on other sites More sharing options...
Genx Posted March 12, 2007 Share Posted March 12, 2007 Hehe, so you gradually accrue R & D costs for new projects and write them off against income from your older ones. Link to comment Share on other sites More sharing options...
Recommended Posts
This topic is 6261 days old. Please don't post here. Open a new topic instead.
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now