Federal Research and Development Tax Credit Consultancy
Utilizing R&D tax credits allows businesses to enhance their financial capabilities, promoting growth and expansion. By embracing these credits, companies can create more technical jobs, refine their products and services, and gain a significant edge over competitors. Tri-Merit is dedicated to supporting small- and mid-sized enterprises across various sectors—including engineering, architecture, manufacturing, and software technology—ensuring they fully capitalize on available R&D tax credits.
Tri-Merit assists in gathering the necessary information for tax credit applications and extends our consulting services to small CPA firms, empowering them to deliver advanced financial solutions to their clients. With our comprehensive expertise, businesses are strategically positioned for success.
Our Approach
Our research and development tax consultants employ a two-pronged R&D tax credit consultation approach.
Extensive Data Collection
Tri-Merit is known for its thorough data collection process. Our consultants work closely with your team, interviewing key personnel to identify potential qualified research activities. We also obtain any existing documentation that can substantiate your claims. To ensure compliance, our tax credit consultants rigorously evaluate your initiatives against a strict set of criteria, guaranteeing that the final list of research activities is robust enough to withstand an IRS audit.
Non-Intrusive Information Gathering
At Tri-Merit, we prioritize a streamlined and efficient data collection process to minimize disruption to your daily operations. Our systematic approach ensures that we focus solely on relevant activities and internal reports essential for supporting your claims, saving you time and resources. We conduct our consultations swiftly, utilizing minimal resources while thoroughly exploring all potential initiatives to deliver tailored tax services that align with your specific needs.
Our Consultation Services
Our R&D consultation services include:
Our consultants refer to relevant personnel and departments to gather reports that can be used for tax credit calculation. We procure documents that detail the nature of R&D activities undertaken by the organization. On top of that, we gather existing documents that can support R&D tax credit claims.
If the Tri-Merit team is brought in to defend an audit, we will work with government agencies on your behalf. If there are requested documents or clarifications, we will follow up.
Before collecting information on qualified R&D initiatives, Tri-Merit examines the client’s structure to pinpoint which departments engage in research and development, outsourcing, and partnerships with third-party research institutions. We also identify key personnel who can offer valuable insights into the organization’s research efforts. This structured approach ensures that we gather all relevant information efficiently and effectively.
As part of the final documentation for credit claims, Tri-Merit creates detailed engineering reports to support both federal and state credits. Based on the collected data, we provide a thorough report outlining our data collection methods, prepare the required tax credit forms, and collaborate with each company’s CPA to ensure all necessary documentation is submitted on time for annual tax returns. Additionally, we act as a liaison with government agencies until the tax credits are fully approved.
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