May 22, 2015
Diane Giordano, Tax & Business Services Partner, Quoted in Long Island Business News Article, "Blinded by Science."
By Claude Solnik
Seviroli Foods isn't your traditional high-tech company. But in its Garden City test kitchen, a kind of culinary laboratory, workers have been busy with their pursuit of pasta perfection.
They have been looking at how to flash-freeze macaroni in special trays, so it stays tenderer. Traditional high-tech? Hardly. Standard science? Maybe not.
But it's an example of work to improve products being used to qualify for what's known as research and development tax credits.
Diane Giordano, a partner at Marcum in Melville, has seen a cross-section of companies qualify for credits. A recycler extracting precious metals from computers, a furniture firm improving software to design furniture and a company that switched to rice flour to make gluten-free cookies top the list.
"That's all part of experimentation," Giordano said. "It's a very underused credit. People don't understand it. They still think R&D relates to larger scientific companies."
Click here to read the full article on www.libn.com >>