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Gusto Offers R&D Tax Credit Service

Online software vendor Gusto has introduced a Real Time R&D Tax Credit service. Using the new service, businesses can deduct the credit from their payroll immediately. Gusto notes that previously businesses had to wait until the end of each quarter to receive a refund.

Credits of up to $250,000 per fiscal year are available to businesses to offset the cost of research and development. Gusto is providing information for accountants since it says working with small businesses to enable them to claim the credit can become a lucrative service.

The software company notes small businesses must conduct an audit to determine eligibility with a form 6765 needing to be filed with the prior year's corporate tax return in order to qualify for credits for the current year. Business can sign up for the service at www.gusto.com

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