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INSIGHT: Save Money While Fighting Cyberattacks

December 12, 2018Bloomberg Daily Tax ReportYair Holtzman, Melissa Cohen and Alex Okin
INSIGHT: Save Money While Fighting Cyberattacks

Given over 50 percent of American adults have experienced a cybersecurity attack, experts can be sure this issue is not going away. The best way businesses can fend off hackers is through investment in emerging technologies to solve current and future security problems. By failing to do so, companies put themselves at risk of losing significant worth. The Research and Development tax credit is a U.S. business incentive offered to companies that experiment with emerging technologies, including cybersecurity solutions. The article offers guidance related to this section of the tax code and highlights the types of core business activities that can qualify for this generous credit.

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