Technology Initiatives Group offers clients a complete host of SRED services that are designed to generate the highest possible tax credits and refunds without consuming their time and disrupting their day-to-day operation. We abide by the highest code of ethics and standards to ensure confidentiality and ultimate customer satisfaction.
SRED Tax Credit Review: Below is the typical, no risk, process our customers can expect once we determine the work performed satisfies the requirements necessary for a successful claim under the envelope of Scientific Research and Experimental Development.
Introduction: A consultant will provide management and key personnel with an overview of the tax credit program and the process required to submit a successful claim. The goal is to educate businesses about the significant benefits they will be entitled to and how to properly prepare and identify projects that are under the envelope of SR&ED.
Discovery: A consultant will meet onsite with appropriate personnel to identify potential qualifying activities and expenditures. Upon determining which projects qualify, the technical analyst will ask a series of systematic questions to uncover the technological uncertainties and process changes that will form the basis of the claim.
Technical Reports: A consultant who has a similar background to the client’s industry will draft and prepare a comprehensive technical description for each qualifying project using our proven case methodology to support the claim. All technical reports will require approval by Senior Management as part of a rigorous quality control program.
Financial Reports: A consultant will collaborate with your accounting department to assign costs for each qualified project. Labour expenditures including subcontracting charges, materials, capital expenditures and overheads will be incorporated into the claim. First time claimants will be allowed a degree of leniency for cost estimations, but will be expected to improve their reporting for future claims.
Audit Assistance: A scientific and financial cost audit, conducted in a different spirit than corporate audits, is to be expected especially on larger or first-time claims. Although the Government wants to give money or tax credits, they do need to verify that the claim is legitimate and well supported. A SRED consultant will accompany you during the audit process, providing you with assistance in defending the claim.
Appeal Assistance: If the government challenges the technical or scientific integrity of a project either by rejecting it or reducing the qualified work performed, a consultant will submit an appeal on your behalf and defend the claim.
Internet Site: This website contains the latest Research and Development Tax Credit news, legislative changes and highlights, links to CRA government websites, and related industry articles. We also built a secured client area to enhance communication by providing our customers with status of file, meeting calendar, task schedule, preparation tools, audit results, and refund status.
SRED Tax Credit Info-Line: If you have any questions or need clarification on any SR&ED tax credit issue, 905-935-0746 will connect you to one of our senior consultants who will assist you with your inquiry and ensure you are maximizing your SRED tax credit benefits.