The biggest befit of CrediTrak™ is that your firm will be have the confidence to offer clients additional services in the form or R&D tax credit studies. Additionally, your firm can generate significant fee income by offering a service which is greatly appreciated by the clients.
However, claiming R&D tax credits can be a time-consuming, laborious, and expensive process if your firm does not have a reliable system in place. During typical R&D tax credit studies, CPA firm personnel must identify and work with corporate accounting/tax and engineering personnel reviewing stacks of expense records, combing through project documentation, and encouraging corporate employees to remember the details from previous R&D projects. Perhaps the most difficult task of an R&D study is juggling schedules and coordinating meetings with management, R&D, and manufacturing personnel in order to conduct the required project and expense investigations.
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"Perhaps the most difficult task of an R&D study is juggling schedules and coordinating meetings with management, R&D, and manufacturing personnel in order to conduct the required project and expense investigations. Creditrak makes this process easy."