Methodology
The Inovatec Methodology is designed to optimize R&D Tax Credits for our clients.
Initial Assessment
During the preliminary phase of the Inovatec consultation, we use our proprietary assessment tools to determine if the scientific and technological activities of the client company qualify for federal and state R&D Tax Credits. We also provide an estimate for the anticipated tax credit or refund.
Detailed Analysis and Calculation
If the results of the initial assessment show that the company qualifies for an R&D tax credit, we meet with its technical and accounting staff to obtain detailed information about qualifying research activities. Our tax professionals use the company’s own financial information to calculate eligible R&D Tax Credits.
Substantiating Report
The Inovatec tax team then develops one or more detailed qualitative and quantitative reports that substantiate the company’s technical activities. Our tax team includes technical personnel with experience in evaluating diversified technologies.
We work with the company’s CPA to amend the appropriate tax returns based on our calculated R&D Tax Credits.
Qualifying Research Activities
A company qualifies for the R&D Tax Credit if it intends to apply the information being discovered to develop a new or improved business component, such as any product, process, computer software, technique, formula, or invention, for use in trade or its business.
