Taxes and technology can be complicated, but that doesn’t mean saving money has to be. 

Did you know that your company may be able to save money on your taxes by utilizing the Research and Development (R&D) tax credit? If you’re thinking that only companies that have laboratories in their buildings and employees who wear goggles qualify, you might be surprised.

Our guest, Maggie, says it best: “No one thinks about it!”

Maggie Wright, CPA, a specialty tax expert in Warren Averett’s Consulting division, joins our hosts to answer a question she hears often: Can cloud computing save my company money on my taxes?

The short answer is: possibly. In this episode, Maggie explains using cloud computing services, such as Amazon Web Services and Microsoft Azure, very well may make it possible for companies using these services to save a bundle on their taxes.

In this episode of The Wrap, we kick off season five of our podcast, where we’ll dedicate each episode to answering a question that our team of advisors hears frequently from the companies they serve. 

At the end of this episode, you’ll be able to:

• Identify what cloud services are and which ones you might already be using
• Know if your business is the kind of company that could particularly benefit from this tax credit
• Have a basic understanding of if your cloud services could qualify for the R&D tax credit
• Know if it’s too late to claim the credit for previous expenses

Mentioned in this episode:

• Season One, Episode: Learning the Ropes of R&D with Floyd Holliman

Recommended resources for additional learning:

• Cloud Computing and the R&D Tax Credit [Answers to Frequently Asked Questions]
• R&D Tax Credits: A Comprehensive Guide to the Tax Savings Opportunity All Businesses Should Know About