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What to Expect when you’re Expecting R&D Study

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Congratulations! You have just taken the first step in claiming your R&D Tax Credits! Whether you are looking to reduce your payroll tax, planning for taxes in the future on your income tax return, or reflecting on the last few years and realizing how much of your profits were paid to the government, R&D Tax Credits can help!

I get asked the question all the time: “So what all comes with an R&D Study?” As there are so many companies at various stages claiming the credit, the Study will vary for each one, but the process will remain about the same. So, let’s dig in and see what the process looks like!


Once you’ve made contact with an expert at LEAF, you’ll begin the scoping phase. You and your R&D expert will discuss your projects and potential costs to get an idea of qualified efforts. During this phase it typically requires 1-2 phone calls with your R&D Tax Consultant and the sharing of information from prior tax returns and current financial information. Upon determining qualification and level of substantiation required by LEAF, you will be presented with an Engagement Letter to be signed. NOTE: Due to the level of confidential information, LEAF also is able to send non-disclosure agreements to ensure your confidentiality and privacy during all phases of the Study.


Once all documents are signed, then begins the engagement phase. The R&D Tax Credit consultant will work with you to gather all appropriate financial and project documentation. Financial documentation may include W2s, W3s, Trial Balances, Tax Returns, Organization Charts, Contracts for projects or contractors, etc. Wherein Project Documentation could include project scoping documents, bids and proposals, engineering notebooks, slack channels, etc.

As part of the engagement, your consultant will work with you to determine qualifying projects, representative projects for documentation, and qualifying costs. As part of this process, the company will be asked for subject matter experts or SMEs (i.e. those who can speak for the business surrounding projects and personnel’s time). These SMEs will be tasked with explaining the concepts and history of the representative projects, identify personnel working on the projects, and identifying other costs associated with the project.

LEAF’s R&D Tax Credit consultants will document their notes while creating the link between the tax code and the credits claimed substantiating the R&D Tax Credit claim. This process involves the review of the tax code, revenue rulings, and applicable court cases to then document the credit claim qualifications in the case of any future state or federal audit of the credits.


Upon completion of the computation of the credits, LEAF will provide you and your CPA with the necessary forms and instructions to claim the credit on your return. In addition, the Report Study will be completed shortly after the forms are delivered so that you maintain your support for your credit claim for your return.

So, what are you waiting for? With an R&D Tax Credit expert, you gain access to someone who knows the ins and outs of how the tax credit works. They can navigate pitfalls, help you understand qualifications, and provide the support you need to get your funds so you can keep creating.

LEAF can help you and your business with the most efficient and most effective method when it comes to filing for your well-deserved tax credits. Plus, you get the benefit of professional tax expertise that comes from years of experience. Let LEAF handle your tax credit while you get back to what matters, your business.

Visit our CONTACT US page today to receive a FREE estimate:

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