SYOSSET, N.Y., Oct. 5, 2018 /PRNewswire/ -- R&D Tax Savers announces the release of its Kitchen Kabaret (http://www.rdtaxsavers.com/kitchen), a compendium of 16 published articles related to 3D printing for food and food related products. America's heightened interest in all aspects of food, including artisan, clean, organic and healthy food is simultaneous with major improvements in 3D printing technology. 3D printing for food is an integral part of the Kitchen of the Future, which is also included in the curriculum of many major universities' culinary programs.
The food industry is increasingly engaging customers through digital systems and better matching of customer expectations. Consumer demand has created specialized competition that has given way to unique and creative methods of producing food products that is relentlessly improving the entire food landscape and maximizing overall table experiences. 3D printing has grown tremendously in direct relationship to the overall food industry. The 3D printed food segment is expected to reach $425 million by 2025, according to MarketsandMarkets™. Businesses involved in 3D printing for food and food-related products represent excellent opportunities for R&D Tax Credits.
The Research & Development Tax Credit
Enacted in 1981, the federal Research and Development (R&D) Tax Credit allows a credit of up to 13 percent of eligible spending for new and improved products and processes. Qualified research must meet the following four criteria:
- New or improved products, processes, or software
- Technological in nature
- Elimination of uncertainty
- Process of experimentation
Eligible costs include employee wages, cost of supplies, cost of testing, contract research expenses, and costs associated with developing a patent. On December 18, 2015, President Obama signed the bill making the R&D Tax Credit permanent. Beginning in 2016, the R&D tax credit can be used to offset Alternative Minimum Tax and startup businesses can utilize the credit against $250,000 per year in payroll taxes.
The food industry is continuously introducing unique and innovative methods which is facilitated by continued experimentation with 3D printing. 3D printing advancements have led to new capabilities and expansion of manufacturing materials -- beyond just plastics and metals. R&D Tax Savers' Kitchen Kabaret highlights this transformation. From noodles and pizza to cakes and ice cream, the potential for printing food is becoming seemingly endless and will only continue to rise as more companies experiment with new materials and methods within 3D printing.
About R&D Tax Savers:
R&D Tax Savers (http://www.rdtaxsavers.com) is one of the nation's leading providers of R&D Tax Credit services with completed projects throughout the country. Our multidisciplinary staff of Attorneys, CPAs, and Engineers, help clients maximize their R&D Tax Credit benefits.
Our firm has significant project expertise at the intersection of food and 3D printing. Our food industry expertise includes commercial baking, prepared foods, craft beer, nutritional products, chocolate/candy, pet food, cheese processing etc.
R&D Tax Savers
SOURCE R&D Tax Savers