SR&ED Tips

SR&ED TIPS FROM our RESIDENT CPA

Our SR&ED tips help with everything from what software to use, to documentation and the technical reports. But we also talk about anything related to business and what our clients have done to make themselves successful. Unlike most other SR&ED firms, ours is owned and operated by a team of CPA’s who have been dealing with tax, accounting, payroll and audit issues their entire lives. When we provide a SR&ED Tips, it comes from a team of people with decades of experience and know how.

SR&ED Advice

If you are looking for a specific piece of information, simply contact us, and we can usually get you an answer within 1 business day at most. We are also happy to provide video responses or work with a specific scenario you are in whether it’s an audit or some confusion on what can and can not be claimed in your SR&ED tax credit claim. We are also happy to provide guidance and advice to those who are navigating the SR&ED waters by themselves. Whatever the situation is, or whatever the industry is you are in, we’ve probably seen or been involved with something similar.

CLIENT NETWORK

We are fortunate enough to have a large client base with which to draw from. While privacy is always paramount, we are able to draw on the knowledge gained from our clients over the years to offer advice on software, payroll best practices, hours tracking and more. We also introduce clients when appropriate, and have had several that have worked together on short term projects and some that are still working together to this day. Needless to say we look to add value to your business, even outside of the SR&ED tax credit program.

SR&ED Audit Blues?

CRA SR&ED audits, which are also commonly known as CRA reviews, are an inevitable aspect of SR&ED Tax Credits. Because you can expect these audits to occur at one point or another, it’s important to be…

SR&ED Tax Credit Program: Rate of the Return

The SR&ED tax credit program encompasses numerous factors that can influence the rate of return for a business. Some of these factors include the type of company, their revenues, and the taxable capital of associated groups…

SR&ED Overhead Gross-Up

SR&ED overhead gross-up is the next step once you’ve determined all Eligible SR&ED Expenditures.  Before you begin this step, it’s worth your time to ensure you have all the expenditures as one of the methods depends…

Eligible Expenditures for Financial Preparation

When it’s time to determine the investment tax credits for the taxation year, you may feel overwhelmed by the long, complicated process ahead of you. However, breaking the SR&ED tax credits process down into manageable steps…

SR&ED Technical Reports

SR&ED technical reports backed my clear financials and solid evidence are crucial to a successful claim. If you’re planning to file a SR&ED claim, you’ll need to deliver a technical report to the CRA. The CRA…

SR&ED Tax Credit Program Tips

Learn more about SR&ED tac credit program tips. For projects that are part of the SR&ED Tax Credit program, certain measures must be taken to determine whether this work qualifies as experimental development. The CRA considers…

SR&ED, Penalties and Fraud

SR&ED penalties and fraud are most assuredly not fun topics to discuss. That said, there is little doubt in anyone’s mind that if a SR&ED claimant can avoid unpleasant things like reduced claims, paying penalties, or…

SR&ED Tips For Your Year End – Diaries

SR&ED should be a year round affair. If you haven’t set up a diary or similar it’s time to start thinking about setting up your processes for next year and a SR&ED diary can strengthen your…

Maximizing SR&ED Like a CPA CHAMP

Maximizing SR&ED like a champ for the team at Bloom means following guidelines. These are of course set by our very own SR&ED champ (and CPA) Logan Hanson. We’ve listed some of the most important things…

How to Document Your SR&ED Claim Like a CPA

In order to document your SR&ED claim like a CPA it helps to know one. Or have one as your boss. I had the opportunity to sit down with our Technical Lead and CEO Logan Hanson…