Introducing the Tinder of Dining: Chicago-based Sugr matches you with food places you’ll love

Dining

If you live in a metropolitan area, picking the next best place to have lunch or dinner can be rather difficult. Do you want spicy or sweet? Are you looking to eat earlier in the day or later? Do you prefer to have a reservation when you walk in? Chicago-based startup Sugr wants to make dining experiences a little less indecisive and more tailored to your preferences.

“The incredible access to information that we have today sometimes makes the simplest decisions take way too long,” said Ruben Flores-Martinez, CEO and founder of Sugr. The discovery service uses machine learning to give users tailored results. The app also takes into consideration where people within your network are eating. “It’s basically a very simple neural network. The more you use it, the better it gets at predicting what you’ll like.”

Sugr has an array of neat features. Once a venue has been selected, you will have the option to hail an Uber. You can invite friends and family to the venue you’re planning to visit, should you wish to be in company. An option is also available to pay via Apple Pay, subject to if the venue has enrolled in this payment method. The app also doesn’t publish written reviews, a design feature that was intentional. “The power of online reviews leads to a lot of negativity. Instead, we want to validate preferences based on what your peers are doing. What my wife thinks is a lot more important than what a random stranger on the internet thinks. So we weigh recommendations based on what people in your networks are doing,” Flores-Martinez added. “We wanted to create a very smart product that could easily understand your personality, the things you like and connect with, and help you make those decisions better and faster.”

The service is pro-small business, as Sugr does not include major chains in its recommendations. However, its founder said “we want to create incentives that are sponsored by major brands, but are redeemable at local businesses.”

Working on an app that encompasses AI solutions and makes life a bit easier? Did you know that you can receive up to 14% back on your research expenses with the R&D Tax Credit? To find out more, please contact a Swanson Reed R&D Specialist today or check out our free online eligibility test.

Who We Are:

Swanson Reed is a Specialist R&D tax advisory firm, offering tax credibility assessments, claim preparation, and advisory services. We manage all facets of the R&D tax credit program in Illinois, from claim prep & audit compliance to claim disputes. 

Swanson Reed regularly hosts free webinars and provides free IRS CE and CPE credits for CPA’s.  For more information please visit us at www.swansonreed.com/webinars or contact your usual Swanson Reed representative.

Digital R&D facility in Chicago will create over 100 new tech opportunities

Digital R&D facility in Chicago will create over 100 new tech opportunities

An exciting time lies ahead for research and development in Chicago! Siemens have officially announced their plans for a digital R&D hub due to open in October 2017.

The facility will generate over 100 new tech jobs in the city which will bring the Siemens Chicago employee count up to 3,300. New jobs will be created in the fields of software development, software architecture, product testing, project leadership, application engineering, configuration management, team leadership and technical writing. It is anticipated that the center will open in October 2017 and will have $20 million per year invested into it.

It is no doubt that establishing this R&D center in Chicago is a significant opportunity for Siemens to leverage the extremely talented tech community in the city.

The center will build applications for Siemens Control Products and Systems (CPS) technology. The CPS Software House will take the lead on global R&D efforts for the company’s design CC platform, which makes it easier to manage the functions of large buildings. In addition the facility will also work to add more cloud functionality to the System One smart home application.

The logical next step and a critical component in the Siemens digitalization strategy is establishing the CPS Software House, which continues driving towards a future that includes autonomous buildings. The goal for Siemens as a company is to build new capabilities, bring them to customers sooner and work with customers to quickly obtain feedback.

The technology industry is growing at an aggressive rate and like Siemens, many are investing millions in R&D to stay ahead of the technology curve.  An R&D Tax Credit can support businesses in any industry to further develop their research.  If you would like to find out more about R&D tax and whether your company may qualify for an R&D Tax Credit, contact a Swanson Reed R&D specialist today.

Manufacturing jobs being created through innovation

industrial 1636390 1920

Projects are underway in Illinois initiated by innovators and entrepreneurs, that could help President Trump reach his goals to bring back employment and the manufacturing industries in the Rust Belt.

University of Illinois Senior Andrew Knight wants to use his degree in agricultural engineering to start his own manufacturing company. By working at the Champaign-Urbana Community Fabrication Laboratory, he is moving closer to that goal. “Having access to this place is great,” he said. “I can focus on design and development.”

The Maker Movement is underway in Illinois, led by Andrew Knight and like minds, who have an appreciation for reaching out to the world and manipulating it to better suit our needs.

The Maker Movement has gone from simple Do-It-Yourself projects to people creating small-batch manufacturing hubs that can turn into job-creating businesses. This process has been significantly boosted by innovations in 3D printing combined with local communities willing to help create something that will solve a need.

Dr. Quincy K. Brown is the program director of STEM education research at the American Association for the Advancement of Science. She said President Trump could benefit from these innovators in an attempt to foster innovation and new manufacturing growth, similar to what President Obama did with the creation of the National Week of Making and holding a Maker Faire at the White House. “Being able to shout it far and wide that this is a priority. This is something that the president thinks is important that the country really needs. That’s powerful.”

Brown said the nation’s governors can use their platform to better communicate the benefits of a career path in the manufacturing industry. She says Gov. Rauner and others need to help dispel the old myth of a manufacturing career as toiling away in repetitive and dirty conditions. “The governor would be able to say it in terms that the parent would understand so that when their kids come to them saying they want to do this, they’ll say, ‘You know what? That’s really cool,’” she said.

Illinois is in much need of new manufacturing work within the state. While neighboring states are hiring new talent, Illinois shed 11,000 manufacturing jobs last year, according to the Illinois Department of Employment Security.

Making the Most of the Incentives from the Treasury Department

dollar 941246 1920

Back in September 2013, the Treasury Department proposed some new rules that would expand the reach of the R&D tax credit incentive. Thanks to the new rules, more business activities are now eligible for the research and development tax breaks that have been so beneficial to businesses all over the country. The U.S. government has now included a variety of manufacturing process oriented costs, which has been seen as a positive result, especially for those working within manufacturing and food processing.

New Opportunities for Business Owners

Thanks to the new rules, businesses are now able to recover the cost of producing prototypes, even if the prototype is later sold. Testing new manufacturing processes is also included, so there’s nothing stopping you from developing new systems that could improve the way your business operates, simplify the production and manufacturing processes and benefit industry and consumers.

Reducing the Risk of Conflict

The Treasury Department has worked hard to reduce areas of confusion in the R&D tax credit incentive. The confusion has often led to problems and conflicts between companies and the IRS. As a result, many small to medium sized businesses, as well as large corporations, have often neglected the tax incentive for fear of being audited or being involved in legal issues. Therefore, the new rules have been met with a positive response from the tax payers. With the areas of dispute eliminated, it’s now easier than ever to put in a claim for any eligible projects and activities in businesses.

Removing the Grey Areas

Now the murky waters have cleared there’s nothing stopping all eligible businesses from putting in their claim for R&D tax credits. However, it is essential that you fully understand what is required from you and what is considered to be eligible. We’re able to assist you with these activities. Our tax specialists are ready to discuss your research and development activities and help you to identify the different expenses that you could claim for.

With our expertise, we can explain the R&D tax credit incentive to you regardless of the industry you’re in. We will explain the current rules created by the Treasury Department and guide you through your planning and claim process. With our help you can benefit from this essential tax incentive that could drive your business further, create expansion opportunities, create new jobs and even change the way the industry works.

Advancing US Progress in Science and Technology

Test Tubes Supersmall

There was a time when the US was the leader in practically any field you care to consider, from automotive to pharmaceuticals, from medical science to computer technology. While we still retain a noticeable lead in many of these fields, the rest the world is quickly catching up. As a result, companies across the US are motivated to constantly invest in research and development, in an effort to come up with better processes, new products, new patents and innovative solutions. Fortunately, the US government, at the risk of negatively impacting the US Treasury, has had the perspicacity to incentivize this type of research, by providing what is known as the Research and Development Tax Credit. Today, more than ever, it is a critical component of any company’s balance sheet and yet its full benefits are often overlooked.

The Qualified Costs

Many companies don’t fully appreciate how many of their ongoing activities actually can qualify for this tax credit. There are three basic cost areas which qualify for the credit:

  • Wages and Salaries. Anyone involved in any type of research capacity, whether it be to perfect a new prototype, do research for a new patent, or even improve an existing process can be considered a viable candidate. The salaries not only of the specialized researchers themselves, but also anyone in a supervisory capacity or support role can be considered for this credit.
  • Supplies. Any materials or supplies that are consumed during any type of R&D activity are also considered to be quantifiable for this tax credit.
  • Outside contractors. The expense of hiring experts to help assist or consult during any type of R&D activity is also considered to be subject to this credit.

To qualify for this credit, a company must be involved in either inventing a new product, or improving on an existing one, or alternatively, improving the processes involved in existing manufacturing procedures. One additional benchmark to qualify for the federal R&D tax credit is that the company must have a payroll of at least $1 million annually, and if it is not profitable at present, they must be able to prove they expect to be so soon.

The Illinois Research and Development Tax Credit

The State of Illinois’ Research and Development Tax Credit uses the federal guidelines as the basis for determining eligibility for the state tax credit. For Illinois, the tax credit rate is 6.5% and it is nonrefundable. Any company that wants to apply for this credit needs to compute their average R&D expenditures for the past three years, which thus establishes the base amount which the company will use to formulate their credit. With such a simple system in place, many small and medium businesses are beginning to take advantage of this incentive to increase their competitive advantage. Over the last few years, the top 10 credit recipients continue to be the recipients of the bulk of these credits. However, the state has seen a market increase in credits for smaller businesses, as they begin to fully understand the beneficial impact of the state tax credit, as well as the federal tax credit and continue to invest in innovative solutions in their market niche.