What do you guys do for R&D tax credits? Looking at Mainstreet vs Fondo vs Neotax

[bobbilynn]

Unsure what section 174 will end up looking like - supposedly to be amended but wtfk. We're considering moving forward with an application this year but don’t know if we should do it ourselves.

For what it's worth, I've heard that most R&D firms charge clients a percentage of what they save you but also not too sure how that works.

Anyhow, how are you guys getting this sorted out?

 

[justpassinby1]

@bobbilynn I just put on a lab coat and goggles, pretend to do science, and hope the IRS believes I'm smart enough to deserve R&D credits.

 

[bluefleur]

@bobbilynn What's the application criteria these days?

 

[ktkls90]

@bobbilynn It's common for firms to charge 15-20% of the claimed credit as their fee, though some folks will do it for a flat rate.

We have a nice little ebook guide to the R&D credit here: https://pilot.com/ebook/rd-ebook-download.

(I'm Pilot's CEO but we don't do R&D credit standalone (you have to be a customer of our bookkeeping service), so I'm not trying to sell you anything here)

 

[cisikwe]

@bobbilynn Why are you assuming everyone here is from the US?