The modern standard for claiming the R&D Tax Credit
The Research and Development tax credit has been a crucial part of the tax code since 1981. The intent of this incentive is to reward companies for keeping technical labor and intellectual property in the US. From Fortune 100 companies to small start-ups, many businesses claim the R&D Credit to remain competitive in the global landscape. In addition to the federal R&D Credit, over 30 states offer their own credit.
At SPRX, we’ve developed proprietary technology to simplify the R&D credit process. We work with our clients to deliver a full comprehensive study in days, not months. Our team of experts is here to support you every step of the way. You can claim these credits with confidence because audit support is included with every study.
At SPRX, we’ve developed proprietary technology to simplify the R&D credit process. We work with our clients to deliver a full comprehensive study in days, not months. Our team of experts is here to support you every step of the way. You can claim these credits with confidence because audit support is included with every study.
How SPRX saves you
time and money
1. Gather and upload your files to our software
We integrate with popular enterprise softwares such as ADP, Gusto, Paylocity, Quickbooks, Netsuite, Jira, Azure and much more.
For added flexibility, our uploading portal allows you to effortlessly import data via spreadsheets, PDFs, and various other file formats. Simply upload your files or integrate with your data provider, and our system takes care of the rest.
For added flexibility, our uploading portal allows you to effortlessly import data via spreadsheets, PDFs, and various other file formats. Simply upload your files or integrate with your data provider, and our system takes care of the rest.
2. Our AI-powered software processes your documents
Our industry leading software processes your payroll data, project lists, contractor expenses, master service agreements, works orders, etc.
We will generate predictions within minutes compared to what traditionally take weeks or months.
We will generate predictions within minutes compared to what traditionally take weeks or months.
3. Review and verify
We eliminate the administrative, mundane components of the R&D process. We present to you solutions from the get go.
By combining the human-in-the-loop approach with the power of our AI, we deliver reliable results you can trust.
By combining the human-in-the-loop approach with the power of our AI, we deliver reliable results you can trust.
4. Receive an audit-ready report
Your R&D claim package is ready, fully equipped with detailed calculations and all supporting evidence.
We go a step further by providing audit support and including all the comprehensive reports you need to seamlessly file your taxes, ensuring compliance and peace of mind throughout the process.
We go a step further by providing audit support and including all the comprehensive reports you need to seamlessly file your taxes, ensuring compliance and peace of mind throughout the process.
Frequently Asked Questions
What is the R&D Tax Credit?
The R&D Tax Credit is a federal and state tax incentive designed to encourage businesses to invest in research and development activities. It allows businesses to claim a tax credit for a portion of the expenses incurred during the development of new or improved products, processes, or technologies. This includes activities like experimenting with new manufacturing techniques, developing software, or conducting scientific research. The credit can significantly reduce your tax liability, providing businesses with the opportunity to reinvest those savings into further innovation.
How do I know if I qualify?
To qualify for the R&D Tax Credit, your business must engage in activities that meet the IRS’s criteria for "qualified research activities" (QRAs). Generally, these activities must involve:
1. Innovation: The development or improvement of a product, process, or software that is new or significantly improved.
2. Uncertainty: The work involves experimentation or testing to resolve technical challenges or uncertainties.
3. Process of Experimentation: A systematic process of trial and error to achieve technical advancements, typically through prototyping or testing.
4. Qualified Expenses: The credit applies to direct costs related to the R&D process, including wages for employees conducting the research, supplies used, and certain contract research costs.If your business is engaged in developing new products, processes, or technologies, there's a good chance you may qualify.
If you have questions about whether your company qualifies, reach out to one of our tax specialists who can help determine if you're eligible for the R&D Tax Credit and guide you through the process.
1. Innovation: The development or improvement of a product, process, or software that is new or significantly improved.
2. Uncertainty: The work involves experimentation or testing to resolve technical challenges or uncertainties.
3. Process of Experimentation: A systematic process of trial and error to achieve technical advancements, typically through prototyping or testing.
4. Qualified Expenses: The credit applies to direct costs related to the R&D process, including wages for employees conducting the research, supplies used, and certain contract research costs.If your business is engaged in developing new products, processes, or technologies, there's a good chance you may qualify.
If you have questions about whether your company qualifies, reach out to one of our tax specialists who can help determine if you're eligible for the R&D Tax Credit and guide you through the process.
Does SPRX Provide Full R&D Credit services?
We’re a one stop shop R&D provider that will compute your credit, prepare a report, and assist in IRS audit exams. What sets us apart from all other providers, we utilize advanced technology to automate 80% of the R&D credit tasks. We use our technology to save you time.
Will my data be secure?
Our software is developed and hosted on US soil at all times. Additionally SPRX is SOC II compliant. You choose what data to upload into your company specific, secure dataspace. We do not save data than longer is necessary to compute your credit.
Will my team have to learn new software?
No. We recognize that tax teams don't always have time to stop and learn new software. For this purpose SPRX has built an operations team which will manage your data and operate the software, thus eliminating any training needs on your end.
As a tech company, does SPRX have R&D Credit experts?
Yes! Our tax team has over 40 years of experience with the R&D tax credit rules. Including experts with years of experience leading the R&D credit team at Grant Thornton LLP. Having been founded on industry expertise, we continue to stay current on R&D Credit industry matters.
Will SPRX require me to collect different data?
SPRX uses the same data that you have been using in the prior years. At a minimum we will need employee wage data and a project list. However we can also accommodate project time tracking, research documentation, or anything else you might have.
Am I too big or too small to use SPRX?
Whether you are a new start up, or Fortune 500 SPRX technology can help you. Our client list includes all sizes of companies in multiple industries. We have found that all companies enjoy reducing interviews, eliminating bottlenecks, and saving money.
Ready to claim your
R&D Tax Credit?
Join thousands of companies saving time and money with our revolutionary platform.
