R&D Tax – Page 2 – Swanson Reed | Specialist R&D Tax Advisors

Is autonomous flying the next big thing?

Near Earth Autonomy (NEA) develops technology for a large variety of unmanned flying vehicles from drones to flying cars to commercial planes. Boeing has announced a significant investment into NEA in hope to make autonomous flying the ‘next big thing’.

The investment is in fact part of a broader effort in creating and promoting an industry-wide standard for autonomous flying. Boeing has solidified autonomous flying into its ideal future targets with three specific goals, which are to: Fly safely, land safely and navigate without GPS.

The key factor which makes a vehicle autonomous is its ability to make decisions. It is no secret that commercial planes already have the ability to fly on autopilot, however they still rely on GPS to orient themselves and are unable to analyse their surroundings and adjust to circumstances without the help of a pilot.

NEA have been pursuing technology to aid autonomous vehicles in this decision making process since 2011 and their partnership with Boeing will continue to center around tools to help vehicles synthesize data from their surroundings and output their own plan.

The biggest task ahead for Boeing and NEA in implementing their innovative technologies actually has little to do with the development and is in fact being able to convince the U.S. government that their vision is worth a chance. There the agenda of the companies will be proving to the Federal Aviation Administration (FAA) that their vehicles can be trusted to fly safely.

Boeing is continuing to make significant investments into its vision and goal to making autonomous flying the way of the future; however the question remains whether it can get others on board.

Are you engaging in R&D to build innovative technology? You could be eligible for the R&D Tax Credit and can get up to 14% on your R&D expenses, even if your experiments were not successful. To find out more, please contact a Swanson Reed R&D Specialist today.

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

Significant R&D scheme attracting scientists from around the world

Almost 260 scientists from around the world have applied for the New Delhi Visiting Advanced Joint Research (VAJRA) R&D scheme, which attracts the top international talent in the country’s research and development ecosystem

Screening of applicants for this exciting opportunity will continue throughout October and 70 applicants will be shortlisted and begin work in December.

Being selected for the VAJRA Faculty scheme is a significant opportunity and achievement. Scientists will be provided with a lump-sum amount of USD 15,000 in the first month of residency and USD 10,000 per month afterwards.

Eventually the plan is for the department of Science and Technology to select 1,000 scientists every year for the pilot project. This will aim to significantly increase expertise in the areas which India currently lacks in such as, renewable energy and water.

The following program will greatly benefit the advancement of research and R&D expertise in India, which will ultimately lead to further opportunities within the sector in the years to come.

India has seen a surge in global R&D, which helps nurture the country’s innovation ecosystem. If your company is engaging in research activities, it may be eligible for an R&D Tax Credit. An R&D Tax Credit reduces the cost and risk of undertaking R&D activities for your business. The benefit helps companies doing eligible work to create new or improved products, processes and services by reducing their tax. To find out if your company could be eligible, complete Swanson Reed’s quick and simple contact form.

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

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Outdated Shopping Mall Proposed as Dallas Location for Amazon’s HQ2

Last Friday, cities in North Texas submitted their bids to become the home of Amazon’s second headquarters HQ2. To set it apart from the other 50 North American cities vying for the spot, Dallas’ proposals ranged from the practical – such as highlighting the upcoming bullet train project from Dallas to Houston – to the ironic, which suggested the online retail giant take over the location of the Valley View Mall, an outdated shopping mall.

Three Dallas developers, Hillword Urban, KDC, and Crescent Real Estate, had proposed the Valley View Mall location at LBJ Freeway and Preston Road as a potential site for HQ2. With the rise of online retail giants like Amazon, the Mall has struggled to adjust to fluctuating consumer trends in the 2000s and gradually, its major department stores closed one after the other: Bloomingdale’s in 1990, Macy’s and Dillard’s in 2008, JCPenney in 2013, and finally Sears in July 2017. The prospect of Amazon’s HQ2 replacing the Mall therefore adds a symbolic, ironic flare. The Mall is near three airports: Addison, Love Field, and DFW International, making it another appealing option since Amazon had included proximity to an airport as one of its requirements for HQ2. Dallas-based architects from Omniplan have already drafted a design for a 500,000 square foot building for HQ2. If successful, Amazon would move into HQ2 by 2019 and expand the space to 8 million square feet by 2027.

Texas is a prime prospect for HQ2. 20,000 Amazon employees already work in the Lone Star State, making it the third state with the most Amazon workers, aside from California and Washington State. Amazon CEO Jeff Bezos had announced last month the company’s intention to expand to a second headquarters with a commitment to invest $5 billion to the new city and create 50,000 jobs in the area. The Dallas Regional Chamber is in the process of preparing an executive summary of North Texas’ best proposals to send to Amazon for the company’s October 19 deadline.

Are you conducting R&D projects to build and improve existing buildings like Valley View Mall? You may be eligible for the R&D tax credit and can get up to 14% back on your expenses. If you would like to find out how your company could benefit from R&D Tax Credits, please contact a Swanson Reed R&D Specialist today.

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

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“The future is all electric” – General Motors announces a lineup of electric cars by 2023

Auto industry leader General Motors announced yesterday that it aims to introduce a lineup of 20 electric cars by 2023 with two electric models to appear on the market within 18 months. Mark Reuss, GM’s Executive Vice President of Global Product Development, Purchasing, and Supply Chain, said, “General Motors believes the future is all electric.”

The announcement follows a growing pattern in the auto industry where other major players like Volvo, Jaguar Land Rover, and Mazda are committing to electric cars. Volkswagen and Audi likewise shifted their focus from diesel to electric. This trend is fuelled in part by several countries’ decision to ban internal combustion engines powered by diesel and gas in the future. Countries include China, India, and the United Kingdom.

GM’s lineup will include a broad array of vehicles, from pure electric-powered cars to hybrids and even vehicles using hydrogen-fuel-cell technologies. Traditionally, hybrids with their gasoline-powered engines and electric batteries have demonstrated a safe option to break into the fuel-efficient market. Hydrogen-fuel-cell power, in contrast, poses a greater market risk. This technology involves converting compressed hydrogen into energy and releases only water vapor as waste. However, major improvements to existing infrastructure is needed before hydrogen-powered cars can enter mainstream use. Currently, only California, particularly in Los Angeles and the Bay area, has the infrastructure to maintain hydrogen cars.

Despite controversy surrounding hydrogen power, GM has been working on a hydrogen cell battery since 2015 and hopes to begin production by 2020. Building on its Chevy Bolt electric car technology, GM recently introduced the Silent Utility Rover Universal Superstructure (SURUS). The SURUS is a hydrogen powered vehicle with a four-wheel drive that runs on two electric motors. GM hopes the SURUS will be used as delivery trucks and even ambulances in the future. There is still of course, room for improvement. As Reuss told The Verge, “Whatever we do, from an electrification stand point, the next version will be better than the version we have on the road.”

Are you experimenting with prototyping different electric and hydrogen powered vehicles? You could be eligible for the R&D tax credit even if you haven’t begun production yet. To find out more on the R&D tax credit, please contact a Swanson Reed R&D Specialist today.

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From casino-inspired ventilation to facial recognition, Dallas Mavericks’ locker room is so high-tech, it must be from the future

The Dallas Mavericks are hosting the Milwaukee Bucks tonight for their first game of the pre-season. It’s also the first time the Mavericks get to use their new state-of-the-art locker room at the American Airlines Center. With facial recognition, customizable aromatic and lighting features, and a casino-inspired ventilation system, the Dallas team boasts a locker room unlike any other in the league.

The basketball team’s owner Mark Cuban unveiled the locker room on Saturday, September 30 to the media after three months of renovations. He explained the facility’s design drew from scientific research and the latest technology to optimize the athletic experience. A facial recognition system at the entrance of the locker room acts as a security feature, preventing any unknown visitors from entering. It also allows each player to check into the room, notifying coach Rick Carlisle when a player has arrived. As an example, Cuban mentioned Carlisle often asked for the whereabouts of player Dirk Nowitzki. Now, Carlisle can just check the system to locate Nowitzki.

Collaborating with casino designers from architecture firm Gensler, the locker room is equipped with special de-humidification ventilation and light systems. Cuban told NBC how the environment at casinos motivated people to stay energized even past their usual bedtime: “We noticed that it keeps us up, otherwise we would have been in bed at 11, but there [were] things that they did that kept us awake to sit at those blackjack tables all night long.” Adopting the same principles, the locker room uses oxygenating technology and a sophisticated light system that adjusts to different times, depending on whether it’s pre-game, game time, or regular practice.

In addition to helping players maintain energy and performance, the locker room includes luxurious amenities ensuring the athletes’ comfort. Players can request music on demand using Amazon’s voice activated Alexa sound system. Each individual locker also includes high tech USB ports, a refrigerator, TV screen, and even a shoe drawer with ventilation to air out odor-prone basketball shoes.

These features may appear “kind of crazy or off the wall,” Cuban said, “but we tried to take advantage of every bit of research that we could find that applied to improving athletic performance.”

If you are engaging in R&D to enhance the athletic experience like the Mavericks’ new locker room, you may be eligible for the R&D tax credit. To find out more on the R&D tax credit, please contact a Swanson Reed R&D Specialist today.

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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.

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Coca-Cola is outsourcing its R&D to the public

As consumers are constantly pushing for cleaner and healthier products, the beverage giant Coca-Cola is ramping up its efforts to uncover new non-sugar sweeteners for its portfolio of beverages and snacks. However Coca-Cola is taking a slightly different R&D approach with this project. The company has decided to outsource its R&D to the public to come up with a naturally sourced, low-calorie sugar alternative that mimics the taste of sugar.

Coca-cola has launched two sweetener campaigns on the HeroX platform, the first gives five individuals the chance to win $100,000 in prize money and the second is a grand prize of $1 million.

The first campaign is the ‘sweet story challenge’, which asks consumers around the world to submit written anecdotes and videos about their favorite methods of naturally sweetening foods and beverages in their cultures, communities or families.

The second challenge calls on researchers and scientists to find sugar alternatives that create the taste sensation of sugar when used in food and beverage. This challenge is the largest and offers the grand prize of $1 million which will be announced in October 2018.

The Chief Innovation Officer at Coca-cola believes that amazing ideas can come from anywhere and that it is vital to always search for newer and better ingredients. The two challenges are very much rooted in the company’s desire to make the drinks that consumers want to drink, and the company’s willingness to find sugar alternatives that help it deliver the great taste people love but in a health conscious manner.

Coca-Cola isn’t proving the be the only company to commit to reducing the amount of sugar in drinks, Dr Pepper Snapple and PepsiCo have also made similar pledges and companies such as KIND Healthy Snacks and Panera Bread have also been adamant about providing consumers with healthier options.

This inclusion of the public to finding solutions serves not only as a way to source new ideas but also to strengthen the brand and retain consumer trust.

Companies creating new knowledge on a global scale can apply for a federal or state R&D Tax Credit. To find out more about R&D and to assess your company’s eligibility, contact a Swanson Reed R&D Tax Advisor today. We look forward to speaking with you and guiding you through the R&D process.

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Digital Marketing Companies Are Missing Out on R&D Tax Credits

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While research and development activities are generally equated with technical industries, you may be surprised to learn that traditionally non-technical industries may be eligible for R&D tax credits. Digital marketing and media agencies, advertisers and publishers must invest in research and development to survive in a dynamic and ever-increasing competitive environment.

Software development has become the norm for these industries, who have seen a shift from traditional to digital media. While Google and Facebook are the largest players in programmatic marketing technology, companies of all sizes are investing in marketing R&D and hiring teams of technical staff like software developers, data engineers and marketing statisticians. Furthermore, user experience design and strong search engine optimization are now critical to gaining an edge over the competition.

Today, firms are focusing on marketing that relies on numbers and science, rather than vague estimates. Clients continually want better metrics and performance, creating a need for programs that gather and analyse data. Companies making innovative technical improvements to web technology, software development or data analysis may be eligible for R&D tax credits. As well as the front end development required for firms providing business statistics to their clients, APIs often need to be developed in order to provide real-time data metrics. Other qualifying activities include developing algorithms for advertising campaigns, developing or integrating CRM software and coding new features to tackle difficult business challenges.

Keep in mind that work in the arts, humanities and social sciences is not eligible as research and development. Research must be technical or scientific in nature. For instance, graphic design and copywriting are not eligible.

R&D tax credits generally equal 15 percent or more of eligible expenditure. Qualified activities must meeting four criteria.

Activities must:

Be intended to improve or develop the performance, functionality or quality of a product, technology or service.
Involve experimentation.
Be technological or scientific in nature.
Attempt to eliminate an uncertainty.

See whether you could be eligible for the R&D Tax Credit by taking our online eligibility test. If you have any questions, please don’t hesitate to contact our office.

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California company spends US$24 Million on R&D

SunPower is a US high-efficiency PV cell and module producer. The company has recently invested approximately US$25 million over the past 12-months towards a research and development and pilot line facility located at its headquarters in San Jose, California.

The facility includes several high-volume production-sized manufacturing tools and automation, and specialized testing equipment, designed to support its next generation of high efficiency N-type monocrystalline IBC (Interdigitated Back Contact) solar cells and modules, which are being designed with greater emphasis on lower cost manufacturing.

SunPower places significant emphasis on producing the world’s best solar panels with technology developed and tested in Silicon Valley. In addition to this, SunPower also facilitates significant job creation, capital investment opportunities from equipment manufacturers and deals, and more affordable solar energy options for homes and businesses worldwide.

SunPower had the second highest expenditure from a basket of module manufacturers analysed in 2016, investing US$116.1 million, which is up from $99 million in 2015. Although the company’s R&D staffing levels did slightly fall from 449 in 2015 to 406 in 2016, the job opportunities to be created from the new R&D facility will significantly increase this number once again.

An R&D Tax credit can significantly support a business to further develop its 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 tax specialist today, we look forward to speaking with you.

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2017 R&D Awards Finalists Announced

The 2017 R&D finalists have been announced today by the R&D Awards Committee and R&D magazine. This year will mark the 55^th annual R&D 100 Awards program which honors the 100 most innovative technologies of the past year. The finalists were selected by an independent panel of more than 50 judges representing R&D leaders in a variety of fields.

The R&D 100 Awards are considered the most globally prestigious recognition of invention and innovation. The awards represent 100 of the top innovations across the categories: Analytical/Test, IT/Electrical, Mechanical Devices/Materials, Process/Prototyping, and software/Services.

The committee will also honor excellence with four special recognition awards to be presented, which will be from the categories; Market Distributor services, Market Distributor Products, Corporate Social Responsibility, and Green Tech.

This year the awards will be held in Orlando and they will be expanded to include the R&D 100 Conference, where industry professionals will have the opportunity to learn first-hand about critical advances in technology and science.

The R&D 100 Awards program was first established in 1963 and has since been an integral part of the R&D Magazine brand. Past winners have consisted of sophisticated testing equipment, innovative new materials, distributive chemistry breakthrough, new biomedical products, breakthrough consumer products, and new industry technologies, academia, and government.

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