Software Developers
Home – Industries – Software Developers
Need Help Getting Caught Up?
Reach out to our team to put together a discovery call. We can help get your business back on track!

Bookkeeping Services
$500-3,000
per month
- Monthly Bookkeeping
- Bank Reconciliations
- Sales Tax Filings
- Financial Statements
- Financial Analysis & Reporting
- Ongoing Tax Advisory
We provide our clients with live books and timely month end close.
Our Services for Software Developers
At Bennett Accounting & Tax LLC, we specialize in providing tailored financial services to software development businesses, helping them navigate the complex financial landscape of the tech industry. Our comprehensive bookkeeping, payroll, and tax preparation services—combined with expertise in Section 174 capitalization and the R&D Tax Credit—offer significant benefits to software developers looking to optimize their finances and focus on innovation.
Maximizing the R&D Tax Credit
The Research & Development (R&D) Tax Credit is a powerful tool for software development businesses, offering significant tax savings for qualifying activities. Our firm helps businesses:
- Identify Qualifying Expenses: We analyze your projects to determine which activities qualify for the R&D Tax Credit, including software development, innovation, and process improvements. By accurately documenting these activities, we ensure you can take full advantage of the credit.
- Detailed Documentation Support: Proper documentation is critical for maximizing the credit and defending it in the event of an audit. We work with your team to maintain clear records of qualifying R&D expenses, including wages, materials, and contract research costs.

Navigating Section 174 Capitalization
The recent changes to Section 174 require software development companies to capitalize and amortize their R&D expenses rather than immediately deducting them. We provide expert guidance in navigating these changes:
- Comprehensive Cost Allocation: We help businesses identify which R&D costs are subject to capitalization under Section 174. This includes development costs related to software, salaries of engineers and developers, and other qualifying expenditures. Proper allocation of these expenses is crucial for compliance.
- Amortization Planning: Section 174 requires the amortization of R&D costs over a five-year period for domestic research and a 15-year period for foreign research. Our firm develops amortization schedules that align with these requirements, ensuring your financial statements and tax filings remain accurate and compliant.
- Strategic Tax Planning: The shift from immediate deduction to amortization under Section 174 can impact cash flow and tax liability. We work with software development businesses to minimize the impact of these changes, helping them implement strategies that balance compliance with tax efficiency.
Bookkeeping and Payroll Services
Beyond the R&D Tax Credit and Section 174 capitalization, our firm also offers comprehensive bookkeeping and payroll services to ensure the financial health of software development businesses:
- Accurate Financial Tracking: We maintain precise records of all income and expenses, ensuring compliance with accounting standards while providing insights into project profitability.
- Efficient Payroll Management: Our payroll services handle the complexities of multi-state teams, remote workers, and contractors, ensuring that employees are paid accurately and on time while maintaining compliance with tax laws.
By partnering with Bennett Accounting & Tax LLC, software development businesses gain a trusted financial advisor who understands the intricacies of their industry, ensuring compliance with Section 174 capitalization, maximizing R&D Tax Credit benefits, and streamlining financial operations. This allows business owners to focus on innovation and growth, knowing their financial foundation is solid.
Free Discovery Meeting!
We're taking on new clients!
If you’re looking for a Certified Public Accountant to provide tax preparation, bookkeeping, or payroll services, we’re here to help!
Let’s figure out if we’re a good match for one another.
Our Services
Exceptional Quality in Accounting and Tax
Assistance with accounting and taxes ensures that tax obligations are met while maximizing your financial efficiency for small businesses, individuals, and large corporations alike. Below are some of the avenues where our team can help your business find success.
Comprehensive Tax Planning
We help clients from all across the United States plan ahead for tax season. If you’re looking to minimize your tax liability and avoid overpaying the IRS, we’re ready to help.
Contact us now to discuss your tax situation with a Certified Public Accountant (CPA).
Hear What Our Clients Have to Say
Our Client Testimonials
We assist clients in a wide range of industries at different stages of their lives and businesses. Below are some of the clients our practice continues to support to this day.
It's reassuring to have such reliable and personable professionals handling my financial matters.