Strategically Positioning Your SR&ED Projects
When we meet with your technical and financial personnel to identify your SR&ED (commonly pronounced “shred”) projects, we also examine how these projects will impact other aspects of your operations. In many cases, projects that may be difficult to claim as SRED projects by themselves may be claimed as supporting activities for advancements you are trying to realize in other parts of the business. In one particular case, we helped a client claim turn their $7,000 SR&ED tax credit into a $150,000 SRED tax claim for the exact same project.
Claiming ALL of Your Eligible SR&ED expenditures
Our team examines each project and determines all of your eligible core and supporting SR&ED expenditures. Other firms often miss these supporting activities which can account for up to 50% of your claim. Supporting SRED expenditures are typically tied to activities that don’t meet CRA’s SR&ED technical criteria, but are allowed to be included in your SRED claim if they were incurred in support of eligible SR&ED activities. For example, the purchase of a computer system dedicated to monitor newly implemented productivity improvements would be considered an eligible expense.
Helping Clients Prepare For Future SR&ED Claims
Following your first claim with us, we help our clients implement an internal SR&ED tracking process to help document your SRED activities and expenses. This tracking process is your best defence should CRA decide to perform a SR&ED audit. We charge no additional fee to any of our clients who retain us for full service engagements.
Caring About Our Clients’ Bottom Line
Going through budget approvals for development projects? We help many of our clients assess whether their upcoming projects are likely to qualify for the SRED tax credit. This not only helps make budgeting decisions easier for projects that are likely to qualify, but also enables the company to fund more projects than they thought they could afford.