Our company has no other income except for the SBIR phase 1.
And even for the grant, it’s cost reimbursement, so all the money we received/reimbursed from NIH means we have spent them. In this situation, I have two questions,
1) Does this grant money we received from the reimbursement account for ‘Annual Income’ when we do the 2022 annual tax report
2) How about the 7% fee? Does it account for income?
Since this amount of money does not have to be reimbursed with any receipt.
Thanks a lot!