

You might be able to get a tax credit for your prototyping - juwo
http://www.ksrevenue.org/taxcredits-research.htm
if you are incorporated.
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nostrademons
Well, aside from this being Kansas-only...

" The credit is 6.5% of the difference between the actual qualified research
and development expenses for the year and the average of the actual
expenditures made during the year and the two previous tax years."

Wonderful. I can take a credit for 6.5% of...umm, $0 - $0. That comes to...$0.

Sometimes it sucks not paying yourself...

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juwo
1) This was an IRS benefit and guideline. As I understand it, every state
likely offers it.

The form is at <http://www.ksrevenue.org/pdf/forms/k-53.pdf>

2) If you were using your savings to live on so that you could do prototyping,
can that be treated as an expense? (payroll or other). This assumes you were
incorporated.

