We use cutting-edge tools, processes, and technologies that allow us to conduct a nonintrusive, turnkey R&D study and provide the highest quality product deliverable in the industry. We conduct the R&D Tax Credit study using alliantgroup’s proven tax consulting process and formalized research credit study methodology. These proprietary processes and methodologies provide for an effective and efficient tax credit study. Our study focuses on identifying, substantiating, and documenting qualified research costs throughout the company, from wages to supplies to outsourced contract research expenditures. alliantgroup’s R&D specialists have worked extensively on procuring tax credits for a wide range of companies, and we have leveraged that experience to develop a turnkey approach – one that is designed to effectively calculate and authenticate research tax credits in a manner accepted by the IRS. We conduct the study in three phases.
A Three-Phase, Turnkey Process
The Three Phases of the R&D Study
Phase 1: Assessment and Feasibility
Our work during Phase 1 focuses on obtaining an understanding of your company’s business and research and development activities. During the Assessment and Feasibility Phase, alliantgroup performs preliminary analysis and interviews with key personnel to identify projects, departments, processes, technologies, department leaders, and project managers where potential qualifying research expenditures may be found. In addition, we evaluate the type and availability of contemporaneous documentation to substantiate the qualified research expenditures. Using the information gathered, we determine the potential tax savings and future benefits of conducting the Research and Experimentation Tax Credit Study.
We believe each study requires a unique approach. Phase I allows us to gain a detailed understanding of your company so that we can tailor the study around your unique circumstances.
Phase 2: Design and Implementation
In Phase 2, alliantgroup designs a detailed work plan and executes the associated implementation strategy. We interview additional company personnel, analyze contemporaneous documentation, link personnel and projects to finalize the quantitative calculation, and gather documentation needed to complete the analysis. This phase entails a full analysis of technical issues related to qualified R&D projects, detailed collection of eligible expenditures, and identification and documentation of qualifying expenditures.
Phase 3: Reporting
This phase includes the preparation and delivery of the detailed R&D Study and its quantitative and qualitative components, which will serve as the company’s documentation supporting the R&D tax credits claimed. The reporting phase also includes the preparation of the required amended tax returns. The R&D report is designed and organized to provide a clear audit trail for the IRS or state taxing authority.