I have a small business involved in developing software programs. Can this qualify as "..activities related to installing, developing, improving or creating goods that are “manufactured, produced, grown or extracted by the taxpayer in whole or in significant part within the United States.”
2007-01-21 04:20:26 · 2 answers · asked by nphxaz 2 in Business & Finance ➔ Taxes ➔ United States
The Domestic Production Activities Deduction is best handled by a competent accountant. For a question on a relatively new part of the tax code, your chances of getting a substantive answer that is close are almost zero on this board.
2007-01-21 04:27:04 · answer #1 · answered by skip 6 · 1⤊ 0⤋
Thanks, skip!
Yes, this is a tax advisor issue. It is also one of the top audit flags for 2006 according to our inside sources.
It is likely that this will qualify. But there are a bunch of restrictions, all of which I cannot enumerate in this forum.
2007-01-21 06:23:03 · answer #2 · answered by WealthBuilder 4 · 0⤊ 1⤋