Boast AI
Click to visit website
About
Boast is an AI-driven platform that helps companies identify and claim innovation capital. It combines technical and R&D tax expertise with AI to simplify claim preparation and maximize returns. Boast helps you easily identify and claim more innovation capital with our secure, AI-driven platform and in-house R&D tax expertise. From project identification and strategy, to evidence collection, Boast assists throughout the entire process. The platform continuously identifies eligible R&D work and investments throughout your product development. With features like real-time tracking of your claim, R&D investment analysis, secure data management, and a digital audit binder, Boast offers complete transparency and control.
Platform
Task
Features
• ai-driven platform
• r&d investment analysis
• real-time tracking of your claim
• digital audit binder
• secure data management
FAQs
What are R&D tax credits?
R&D tax credits are government incentives designed to encourage innovation by reducing the tax burden on businesses conducting research and development activities.
What are the eligibility criteria to qualify for R&D Tax Credit programs in Canada?
To qualify for R&D Tax Credit programs such as SR&ED, a business must: 1. Conduct research and development activities aimed at advancing scientific or technological knowledge. 2. Show a systematic approach to experimentation. 3. Incur eligible expenditures.
Who benefits the most from R&D Tax Credit programs?
R&D Tax Credit programs benefit multiple stakeholders: Business Owners/CEOs, CFOs/Finance Teams, CTOs/Engineering Leads, Innovation & Product Leaders, R&D Tax & Compliance Teams.
Startups: How do R&D Tax Credit programs benefit startups?
Startups benefit significantly from refundable tax credits, such as SR&ED’s enhanced rates for CCPCs, which can provide much-needed cash flow to reinvest in early-stage product development and innovation.
Small and Medium Businesses: How do SMBs benefit from R&D Tax Credit programs?
SMBs use these programs to offset R&D costs, reinvest in scaling operations, and reduce taxable income, allowing them to compete with larger players in the market.
Mid-Market Businesses: How do mid-market businesses benefit from R&D Tax Credit programs?
Mid-market companies leverage these incentives to fund significant R&D projects, gain a competitive edge through technological innovation, and optimize overall profitability.
What is the SR&ED program?
The Scientific Research and Experimental Development (SR&ED) program is Canada’s largest federal tax incentive program supporting research and development.
What is the Investment Tax Credit (ITC)?
The ITC is a federal tax incentive under the SR&ED program, allowing taxpayers to earn credits on eligible R&D expenditures, with enhanced rates for Canadian-Controlled Private Corporations (CCPCs) and Canadian Public Corporations.
What are the ITC rates?
The basic ITC rate is 15% for most entities, while CCPCs and CPCs may qualify for an enhanced refundable rate of 35% on the first $3 million of eligible R&D expenditures for claims prior to December 13, 2024, and $4.5M after December 13, 2024.
British Columbia: What is the SR&ED tax credit rate in British Columbia?
BC offers a refundable credit of 10% on eligible expenditures for CCPCs and a non-refundable credit of 10% for other corporations.
Alberta: Does Alberta offer a provincial SR&ED tax credit?
Alberta offers the IEG (Innovation and Employment Grant) program, which is SR&ED, by another name. Companies get 8% to 20% back on all Alberta SR&ED eligible expenditures.
Ontario: What is the Ontario Innovation Tax Credit (OITC)?
The OITC is a refundable tax credit of 8% for small and medium-sized corporations conducting eligible R&D in Ontario.
Ontario: What is the Ontario Research and Development Tax Credit (ORDTC)?
The ORDTC is a non-refundable tax credit of 3.5% for corporations conducting eligible R&D in Ontario.
Quebec: What is the Quebec R&D tax credit rate?
Quebec offers a refundable tax credit with varying rates depending on the company size and research type.
Other Provinces: Which provinces offer refunds versus credits for R&D tax programs?
Refundable credits are available in provinces like Nova Scotia (15%) and Manitoba (7.5% for in-house R&D and 7.5% non-refundable). Non-refundable credits are common in other provinces.
Job Opportunities
There are currently no job postings for this AI tool.
Ratings & Reviews
No ratings available yet. Be the first to rate this tool!
Featured Tools
GirlfriendGPT
NSFW AI chat platform with customizable characters, AI image generation, and voice chat. Explore roleplay and intimate interactions with AI companions.
View Details
AI Song Maker
AI Song Maker is an AI music generator that helps users create songs effortlessly. Compose tracks, generate AI songs, and enjoy royalty-free music creation with ease.
View Details
Wan 2.5
Wan 2.5 is a revolutionary native multimodal video generation platform. It features synchronized A/V output, 1080p HD cinematic quality, and precision image editing.
View Details
xMates AI
xMates AI is a next-generation AI chat app powered by large language models, offering human-like interactions and roleplaying with customizable AI characters.
View Details
Sora 2 AI
Sora 2 AI is the next generation AI video generator, creating more realistic, controllable, and immersive videos that understand the laws of physics.
View Details
Sora 2 AI
Sora 2 AI is OpenAI's flagship model for video and audio generation, creating physics-accurate videos with synchronized dialogue, sound effects, and music.
View Details