Research and Development Incentives
The IRS and many states provide research and development credits to attract new businesses and to keep existing businesses within their jurisdictions. A company developing a new product or improving its current business using technology would likely qualify for credits regardless of industry. Hito provides comprehensive credit studies and audit support in order to optimize your R&D credits.
First, we evaluate R&D activities within the company and identify all sources of Qualifying Research Expenses (QREs). Next, we analyze the benefits and risks of claiming R&D credits. Finally, we provide the credit estimate and subsequent work plan.
Analysis & Documentation
This phase begins with an in-depth review, analysis, and documentation of the credit claim. Next, calculations to support federal and/or state credit claims are performed. Finally, audit-ready documents are reviewed and compiled.
Strategies to further maximize future credit opportunities are presented using a various techniques such as "stratified QRE risk analysis" and supporting information. Audit and appeal defense is also provided when needed.