What is the R&D Substantiator?
The R&D Substantiator is a free tool that helps Tax Directors, Accountants, and Consultants time-track projects and business components in a format that is useful for filing taxes. It authenticates users and is useful in providing contemporaneous substantiation for compliance with tax laws and for other needs requiring substantiation. The Substaniator is a cloud-based web-app that creates credible evidence for companies with engineers/scientists/technologists and who can benefit from the research credit rules available in both state and federal tax. It can also be used by CPA's and Tax Consultants to set up "campaigns" to gather information for up to 6 of their clients.
Determining which of the activities performed actually qualify for state or federal research tax credits is beyond the scope of this program and should be evaluated by a qualified Accountant or Consultant.
The Substantiator is closely integrated with Google Chrome and appears as an unintrusive pull-down or Chrome Extension the Chrome browser. It can capture real-time activities plus allow for the recording of historical projects.
Although there were recently some rule changes that allow small business to benefit from the Research Credit (such as the ability to use it to offset payroll taxes), there is a point of diminished returns versus the effort involved for very small companies. It is suggested to contact a CPA or Accounting firm for more information on both state and federal tax rules in your local.
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