ONESOURCE R&D Tax Credit Manager: Services

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Providing Years of Knowledge and Experience

Thomson Reuters is comprised of knowledgeable tax professionals with years of industry experience gained while at Big 4 accounting firms and as heads of corporate tax departments. We've used this knowledge and experience to create a suite of services that can be deployed based on your specific needs-whether it's complete lifecycle support or selected areas of expertise to complement existing staff.

Our services work hand in hand with ONESOURCE R&D Tax Credit Manager software applications.

Assessment Services

Thomson Reuters professionals work with your corporate tax department to understand your company's R&D operations, assess the potential for claiming the Research Tax Credit, and determine the efficiencies and cost-savings to be achieved by using web-based automation to manage the process. A summary business case is prepared for management review, from which a go/no-go decision is made for the project.

As part of the ONESOURCE R&D Tax Credit Manager assessment service offering, Thomson Reuters experts identify the highest probability credit areas, as well as the potential research tax credit opportunity.

The key deliverables of the assessment service include:

  • Identify eligible R&D activities
  • Determine preliminary eligibility qualification
  • Conduct risk and value analysis
  • Prepare a value analysis report recommendation.

Depending on the company, an assessment takes just a few days. But it prepares the business case to gain executive sponsorship to move forward with the entire Research Tax Credit process.

Consulting & Support Services

After the assessment is finalized and approved, our professional services consultants support every client project. From the initial on-site kickoff meeting, through the filing of the research tax credit and beyond, the Thomson Reuters consultant will serve as the lead for your project, ensuring the goals identified during the evaluation phase are achieved.

Thomson Reuters supports you through every part of the process. Our experts provide overall planning, resource coordination, and task management. Specifically, our team can:

  • Develop an interview and documentation strategy
  • Build a comprehensive project plan
  • Configure all business unit and reporting hierarchies

And because our professionals have extensive real-world research tax experience, they can augment your company's tax and accounting team.

Services include:

  • Analyzing the base period
  • Preparing lookback studies
  • Conducting launch events
  • Managing the interview/survey process
  • Reviewing survey results
  • Providing audit support

In short, Thomson Reuters enables your company to improve responsiveness, increase the quality and quantity of documentation, and maximize the amount of credit claimed and sustained through audit.

Advisory Services

As needed, we can work with your preferred third-party accounting or legal advisors, leveraging their prior knowledge and experience with the research credit, as well as sharing the information and knowledge we gather with you.

We also connect you with world-class advisors who have extensive Thomson Reuters experience. This is done as needed for legal and accounting support.