Now Available Software for easier compliance with the CRA or IRS R&D eligibility criteria
IRS targeting R&D claims ! Here is How To Comply & Maximize Your Tax Credits and Refund.
Be Ready For An Audit.
R&D audit is a special event. It is not like any other normal fiscal audit. In Canada or USA, there are two distinct issues, which must be examined to assess whether your company complies with the requirement and eligibility criteria of the R&D tax credits.
The first issue is the quality of the work done on developing new technological something. Such as a new process or product or a combination of both thereof.
The second issue is related to the expenses incurred to finance the R&D work that has been described under the technological issues and development activities. Both IRS and CRA have very elaborate definitions and policies of what type and category of expenses that may be claimed and allowed.
Finally, and as usual, both the IRS and CRA would like to review the substantiations of all or some of what have been claimed. There are documented cases where very good presented R&D study was disallowed because of lack of substantiation.
We have compiled some material and small tools to assist our clientele in being ready for an audit. If you are interested, please send us a message (under the tab contact us) and we will be delighted to send you a copy.
Automating The Paper Work Process And Substantiation.
To this end, we have been working on software to automate the entire R&D project management from inception to R&D submission. Our clients are enjoying the benefits drawn from the use of this software. They obtain it as part of our service.Please review the mechanics of the software at the website of our associated company at:http://sedfasoft.com/Flash/spm/spm.html
If you need to download it to try it out, please click on the image under the tab "Contact Us".