Posted by Jeffrey Feingold on 06.29.23
CPA firms and their clients often need outside expertise when it comes to specialized tax services. Deciding on the right partner to manage your specialty tax credits can be intimidating, especially with the growing number of online pop up tax firms competing for your business. A study done by a very large firm can be expensive, while a study done by a smaller local mom and pop shop may not yield the maximum benefits and studies performed by either may run the risk of an IRS audit. Choosing a tax partner that can work seamlessly with your company can offer great value as well as save you time and money in the long run. To help select the right partner, there are three key attributes to consider the firm’s experience with the specialty tax credits your company is attempting to qualify for, the approach they take doing studies and organizing the documentation; and most importantly the fee structure for these services they will be providing your company.
Our Experience
To capture the maximum amount of federal and state tax credits for your company, you want to make sure you are working with tax experts who have comprehensive expertise in the field. In addition to a long record of successful R&D credit results, look for a good mix of strong CPA expertise and deep industry knowledge—especially in those industries ripe with R&D activities like manuafacturing and technology. For example, the CPAs on the Tax Point Advisors team have over 30 years of tax credit expertise, as well as experience in a wide range of industries across the U.S. Our advisers combine an understanding of the tax laws with engineering disciplines to maximize a companies’ credits and reduce their overall tax burdens.
Our Approach
One visit to a client from a headquarters office will not yield the same results as meeting with your clients throughout the qualifying process. Tax Point Advisors makes multiple client site visits for each tax study – large or small – always by experienced tax professionals. The first visit is part of the pre-engagement process; it qualifies the activity or activities that meet IRS requirements, and provides the client with a highly accurate credit range.
The next few visits are part of the study process, in which we perform a detailed analysis and document technical issues. These in-person visits allow us to better understand the clients’ processes, and lead to stronger study reports and more accurate credit numbers.
Our Fee Structure
Our pricing is done on a fixed-fee basis. Because our fee is fixed, the IRS knows we have no financial incentive to find your company a bigger credit than our original estimate. While we often do find bigger credits, we receive no additional compensation.
The last thing you want to worry about is extra fees from your tax credit partner. Make sure the tax credit professionals you are considering are transparent about any additional costs.
Tax Point Advisors never charges clients for out-of-pocket costs, such as travel expenses. In the event that we do need to fly in a specific Tax Point Advisors team member for a special project, we still don’t charge the client for our travel expenses. Tax Point Advisors will, of course, respond to any Information Document Request (IDR) that is presented to a client by any federal or state agency and provide full audit representation to our clients for no additional charge.
Don’t Worry About an Audit
No one wants to think about an IRS audit, but it is always a good idea to be prepared. However, if an audit is necessary, it is essential that a business is able to provide documentation that backs up its activity and eligibility. It is essential that you partner with a tax credit expert that has a successful track record for defending audits.
Tax Point Advisors has the industry’s leading audit success rate. We don’t just calculate tax credits—we have experts placed nationally so that we can also conduct a local, thorough on-site review process for every study, and then write a bullet-proof, audit-defensible study report.
We’re Here to Help
Tax Point Advisors provide services and solutions for all your specialty tax credit and incentive opportunities including; Federal R&D Credits, State R&D Credits, Cost Segregation Studies, Commercial Energy Efficiency Studies (179D), Residential Energy Efficiency Studies (45L), Payroll tax and employment credits and incentives. Let us help you to quickly identify if your company is a candidate for a variety of tax credits and incentives both Federal and state. For further information or a complimentary assessment of your eligibility and potential credit size, simply fill out the form on this page and a member of our team will be in touch with you. Or, you may call us at (800) 260-4138 nationwide.
