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The R&D Tax Credit and the Role of CPA Firms

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Insights
July 16, 2019

Lauren Highsmith discusses how companies can maximize returns by better understanding the role of their CPAs and R&D Tax Credit specialists

Taxpayers often hire CPA firms to prepare tax returns. They are the experts in tax planning, compliance and serve taxpayers by keeping them informed on tax regulations, positioning them for both short-term and long-term tax optimization. However, do they have the specialized knowledge of the activities that qualify for R&D Tax Credits?

While many CPAs have a some understanding of the R&D Tax Credit, very few CPA firms have the technical expertise or resources available to properly qualify, maximize, and substantiatean R&D Tax Credit claim.  The research credit is a highly specialized area of tax incentive. 

In assessing qualified research activities, companies must undertake a more dedicated assessment of their activities based on a solid and dedicated methodology. Think of a CPA as a general practitioner medical doctor. Although they have the experience and expertise for general health concerns, they would refer a patient to a cardiologist for a dedicated and specialized approach for heart health. This analogy is similar to addressing the R&D Tax Credit. In order to ensure that a taxpayer is accounting for every eligible research expenditure and filing a maximized credit claim, CPA firms often refer their clients to R&D Tax Credit specialists. In short, your CPA will make sure you are in compliance and out of trouble with all the compulsive taxes while Ayming will make sure you are reducing your taxes with all the research credit you deserve.

Ayming is a global leader in R&D Tax Credits with many R&D credit experts specializing in the U.S. R&D Tax Credit. Utilizing their many years of experience, Ayming’s tax professionals fully understand all qualifying activities and expenses to calculate and prepare the most accurate credit claim.

Ayming’s unique methodology and approach includes conducting in-depth interviews and on-site business component investigations to ensure all qualifying activities are identified, followed by proven financial analyses to calculate and capture all qualified research expenses.  With experts who work while being sensitive to clients’ time, resources and, impacts on the client’s daily operations, Ayming is consistently recommended and referred by CPA firms, its clients and associations.

Once Ayming calculates the R&D Tax Credit, a CPA firm utilizes its knowledge of the client’s complete financial and tax positions to:

  • Calculate quarterly estimated tax payments;
  • Defer taxes to future years;
  • Determine whether to make the protective 280C election;
  • Develop tax planning strategies;
  • Maximize total tax deductions and credit claims;
  • Prepare and file tax returns.

R&D Credit specialists are a critical component of maximizing your tax position.  Ayming prides itself on the relationships it has developed with both its clients and the client’s incumbent CPA to ensure that the optimum results for the client are realized.

Lauren Highsmith HeadshotLauren Highsmith—an R&D Project Manager for Ayming—has over 5 years of experience in the role. In that time she has identified and delivered over 250+ R&D Tax Credits for C-Corp, S-Corp, and LLC entity types, specializing in the telecom, manufacturing, IT/software, food & beverage, architecture & engineering, and automotive spaces.

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