Taking part at the PackEx Toronto trade show last week, we had an opportunity to talk to many business owners about
their experience with the SR&ED tax refund program.
We discovered a few points of concern:
- Too many companies spend over 90 hours preparing the claim, even though they employ consultants
- Some companies decided to prepare a SR&ED claim on their own – and that often resulted in over 180 hours of work, and brought
only a small part of the potential refund due to pure quality of technical report
- Very few companies are familiar with additional complimenting funding programs that are available to them.
The process of preparing the SR&ED claim has two parts – technical, and financial. The idea of hiring a consultancy to assist with
the application makes perfect sense:
- The company taps into an extensive technical knowledge and expertise in preparing SR&ED claims.
- The company (is expecting) to save substantial amounts of time
- The company expects to maximize the return from the claim.
An experienced SR&ED consultant will save you time by efficiently gathering all the required information, and using his financial and technical
expertise in putting it all down on paper in the appropriate way. The ability to properly determine costs, and to describe in sufficient detail
and in the proper language your experimental developments, is very important to make sure that your company receives the maximum amount of
funding possible.
The average time our clients spend on preparing the claim is kept to under 8 hours.
After all, our ability to save
time, and maximize the SR&ED tax return – is what our clients are paying
for!
Is there more beyond SR&ED?
Visitors to our booth at PackEx Toronto 2009 were surprised to learn about the availability of other programs, to work hand in hand with SR&ED, and provide an
additional source of government funding to the company.
Depending on your industry and nature of business your company may be eligible for several other funding programs. The money could be used
towards improving efficiency, streamlining production, or developing new products.
Our ability to access and successfully balance the various applications, in order to maximize the total funding to the company, is what
sets us apart from competition!
The government of Canada has created numerous opportunities for business to access much needed funding. We are in the business of enabling
you to get the most out of these opportunities!
Contact the Tax Refunds Credits - SR&ED Consultants for your FREE consultation.
Return to: SR&ED claims related articles
Revised:
November 13, 2009
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