Our objective is to optimize credits claimed and sustained for past, current and future years, while minimizing the cost of doing so.
Based on the principle underlying R&D benefits, providing incentives for experimentation to develop new or improved products, processes, or software, our approach has helped companies achieve these objectives more fully, whether they’ve claimed R&D benefits or have been claiming them for years.
In general, our R&D Services are designed to accomplish the following goals:
- Develop an understanding of how your company develops and improves its products, processes, or software
- Determine which states of that process comprise qualified elements of a process of experimentation; and
- Identify and document your qualified activities, projects, and costs in terms of those stages/elements
This approach is very effective because it ties your facts, your costs and activities, directly to the law. This enables us to effectively create a “nexus” between your activities and expenditures, making it more likely that all of your R&D benefits will be identified and supported on exams.
What do I need to do?
We need access to tax, accounting and project data as well as company personnel. Once we have this information, you can be involved as much or as little as you like.
Services for your Situation
We offer services to a wide range of companies, including those who regularly claim R&D credits and those who have not claimed R&D credits previously.
If you have never claim R&D credits, our approach is phased. After each phase, you decide, based on the results of the previous phase, whether and how you want to proceed.
- Feasibility analysis (estimated benefit and cost to claim credits)
- Calculate Actual Credits
- Assist CPA with Tax Form and Return Preparation
- Document Qualified Costs and Activities
- Develop & Implement procedures to identify, document and calculate future credits
- Manage & Support exams and appeals.
If your company already claims R&D benefits, you may not require a full-scale “R&D Study.” Our experience however, is that the majority of companies who have claimed R&D credits have not taken full advantage of the benefits available to them.
We can offer the following services, in addition to a full R&D Study:
Our professionals have reviewed hundreds of calculations. Because of law changes, using last year’s files, “start-up” rules, acquisitions, dispositions, etc., more than half of the calculations we have reviewed had errors, even when prepared by the biggest accounting firms.
Because costs are often qualified without reference to stages (elements) of the development process, they are often understated or missed altogether. Using our approach, we have found companies significant additional qualifying expenditures. We have also helped companies identify non-qualified costs erroneously included in their claims, costs which can taint an otherwise legitimate claim.
Proactive Future Planning
We can help companies develop and implement procedures and technologies to identify, document, and calculate their future credits efficiently and effectively. These services focus first on making better use of a company’s existing financial, accounting and project-documentation systems to accomplish these goals, second on introducing new systems or procedures.
Federal & State Examination and Appeals Support
IRS is prepared to hire more than 17,000 employees over the next few year and audits will increase dramatically as a result. Leverage TRCG’s expertise in managing a Federal or State Examination of any challenged tax position to avoid unnecessary issues and streamline the process.