ONESOURCE R&D Tax Credit Manager: Benefits

Quick Links

Events

Maximize the Research Tax Credit

  • Better identify tax opportunities
  • Our proven methodology developed from years of experience intelligently identifies all opportunities.
  • Improved identification of qualifying activities, especially outside core research areas.
  • Can easily run year-over-year comparisons to surface overlooked opportunities.
  • More thoroughly document gray areas
  • Broader, deeper information documented in controversial areas (e.g., plant personnel) by researchers strengthens positions under audit.
  • Electronic forms make it easier and faster for R&D staff to provide substantiating documentation. Eliminate traditional approach of supplying and organizing hard copy documentations. Result: stronger substantiation for claimed positions.
  • Online surveys lower risk of leaking intellectual property through third parties. Less intrusion on R&D staff enhances ability to provide more documentation.
  • Minimize audit exposure
  • Lowers audit risk because of higher quality and quantity documentation, completed by employees rather than third parties.
  • Turnover in research and/or tax staff is no longer an issue. Activities are securely archived and readily available in the ONESOURCE FileRoom.
  • Data can easily be re-loaded to amend

Minimize the Time and Cost

  • Improve cost effectiveness and bottom line
  • Replace costly, in-person interviews with less expensive online surveys.
  • Interview/survey all geographically dispersed operations cost-effectively.
  • Hold less reserve by having deeper, more accessible and sustainable documentation for IRS inquiries.
  • Eliminate high costs of executive, tax staff and consultant time to support an audit.
  • Control and maintain information assets and easily build on what has been accumulated from prior years. Information value and accumulated in-house knowledge compounds over time.
  • Complete the process in weeks, not months
  • Collect information more quickly, in a fraction of the time of antiquated, traditional methods that use in-person interviews.
  • Improve relationships with R&D executives and staff by taking less of their time and more effectively protecting intellectual property.
  • Spend less time on compliance and administrative tasks and more time on strategy and planning.
  • Automated survey and document repository storage lessens drain on tax department staff.