contact us for more information on Research & Development Tax Credit Consulting

Corporate Headquarters
6000 Western Place, Ste 800
Fort Worth, TX 76107
817.732.5494

Regional Business Development Contacts:

Texas Gulf Coast Region:
Candace Willingham

Midwest Region:
Diane Smith

Northeast Region:
Jennifer Weston

Southeast Region:
David DeGrand

South Central Region:
Jennifer Chin

Pacific Northwest Region:
Laura Collins

Upper Midwest Region:
Al Schmitt

 

 

Research and Development Tax Credit Accounting and Auditing

IRS regulations finalized in 2003 make it significantly easier for more companies to qualify for the Research & Development Tax Credit. Record keeping requirements have been liberalized. The discovery test relating to new information has been significantly eased. Process improvements are now included as a qualified activity.

WHO QUALIFIES FOR THE CREDIT?
A Company Qualifies When One or More of These Criteria Are Met:

• Fights to survive international and domestic competition.
• Invests time, money or resources to advance or improve their products or processes.
• Manufactures products.
• Maintains a staff of technical personnel such as engineers, designers, labs, chemists.
• Invests in continuous improvement projects.
• Implements cost reduction initiatives.
• Attempts to use new materials.
• Adds new equipment.
• Develops prototypes, jigs, fixtures and molds.
• Automates or streamlines internal processes.
• Develops new technologies.
• Performs testing functions.
• Develops, implements or upgrades systems or software.
• Develops proprietary software applications for resale.
• Obtains patents.
• Spends money on outside consultants to do any of these things.

SOME EXAMPLES OF THE BENEFITS OF R&D TAX CREDIT STUDIES

Industry Type	Gross Sales	Total Benefit Received
Plastic - Blow Moulder	$49,000,000.00	$283,000.00
Metal Fabrication	$42,000,000.00	$704,000.00
Plastic Consumer Products	$20,000,000.00	$184,000.00
Equipment Manufacturer	$24,000,000.00	$356,000.00
Instrument Manufacturer	$8,000,000.00	$156,000.00
Consumer Products Manufacturer	$16,000,000.00	$136,000.00

 

WHY CHOOSE SourceCorp?

Maximized Benefit
We ensure the federal and state benefit is maximized. Our R&D and technical expertise and your support allows us to accurately plan for your short- and long-term ability to maximize the federal and state credit.

Longevity
SourceCorp has a 23-year proven track record for service and support.

Lessened Audit Risk
IRS requires contemporaneous documentation to support the credit claim. SourceCorp’s R&D study methodology will achieve IRS requirements for credit claims. We will provide free support of the study in the event of an audit.

Quantified Benefit
A pre-engagement visit to the facility ensures the estimated benefit analysis is realistic.

Fixed-Fee Billing
Our fees are straightforward and are based on an accurate pre-engagement analysis of the business -- No "contingent-based" or "success-based" billing schemes.

Non-CPA Firm
We are a tax consulting practice specializing in tax areas requiring significant engineering and technology expertise.