42 Canal Street, St. Catharines, ON L2N 4S9

Four critical characteristics to demand when choosing your SR&ED tax consultant

#1 Technical Expertise

Unfortunately, most consultants only know about the simple tax laws around the SR&ED program, yet know nothing about the technical issues that surround your unique business. Technical knowledge is the one of the keys to ensuring a strong maximum SR&ED benefit. If you are spending time explaining your business challenges to your consultant, you may not be getting your maximum benefit from the SR&ED program.

Successfully Claimed $88,908,312.76 For Our Clients
Claim Your Credits Today

#2 Experience & Inside Knowledge

In the SR&ED industry, it’s what you don’t know that costs you money! Not only does your consultant need to have experience in this industry, they should have a successful track record to back them up. As of April 29th, 2015, we’ve been able to get exactly $88,908,312.76 in credits and refunds back for our customers!

When it comes to SR&ED, it helps to have someone who knows the system inside and out, especially when it comes to writing your claim. If the claim is not written in the proper fashion, it will either get denied or put through at a lower percentage, deflating the amount of your refund. This is where experience really counts and why you should question your consultant’s past and current experience. Ask to see their track record and if they hesitate don’t be afraid to ask how come.

#3 Deep Knowledge of Laws

There are volumes and volumes of tax laws that can potentially affect the amount of taxes you can ultimately pay, or get back! This is where a deep understanding of specific tax laws that surround the SR&ED process comes into play.

Your consultant must have in-depth knowledge of these laws, and the people who constantly monitor them. They should be continually attending courses, briefings and seminars on an annual basis to keep up-to-date. Working very closely with your accountant also plays an important role. You must have your books inline with the R&D process once it has been implemented. Doing so ensures you get the most money back allowable under the SR&ED program guidelines.

Don’t Let A Part-Time Tax Consultant Prepare Your Claim!
It Can Literally Cost You Tens Of Thousands Of Dollars!

#4 Attention to Details

The number of steps involved with reviewing, assessing, preparing and even appealing your SR&ED tax claim is sometimes a bit daunting. Make sure the consultant you choose to use has a system that ensures every detail is attended to in a timely manner.

Everything including initial assessment, paperwork, amendments, recovery of taxes from sub-contractors, resolving all questions as they arise, and training of your staff on your tax procedures, must be covered. Check that they include all the necessary references and explanations to substantiate the claim and provide you with detailed reports outlining all the areas of the claim. If this is not a standard procedure, then you should think twice before deciding to do business with them!

This All Sounds Great and a Bit Overwhelming
What Do I Do Now?

Looking at last year’s returns, the average company claiming R&D had a successful claim of approx. $150,000.00; the average profit margin for these companies was 3%. Therefore, getting a refund (or credit) of $150,000.00 was similar to getting a new order for $5 Million Dollars! You’ve already done the work, now it’s time to reap the added benefit.

To get you started on your way to a claim, simply contact us and let us know you’re interested. Together, we’ll help you understand all of your requirements in submitting a claim to the Government for your SR&ED tax refund or credit.

Be sure to check out our FAQ page, as it will answer the questions that this page has undoubtedly brought up for you!

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