COLUMBUS, Ohio, Jan. 11, 2022 (GLOBE NEWSWIRE) -- Clarus R+D (https://clarusrd.com/), a fintech software company focused on helping innovative companies maximize their R&D tax credits, announced a customized and enhanced research and development tax credit platform that allows Clarus R+D to bring their streamlined cloud-based software, and their years of R&D compliance expertise, to enterprise companies and larger tax practitioner organizations. The updated, more robust platform officially went live in December 2021.
Since its founding in 2016, Clarus R+D has focused on helping start-ups and growth companies take advantage of America’s largest tax incentive: the research and development tax credit. It builds cloud-based software to deliver access, compliance, and clarity for federal and state R&D tax credits: a process that could be daunting, but can also put substantial money back into businesses that truly need it to continue to grow and thrive. To date, Clarus R+D has helped more than 1,400 customers and 170 partners claim over $135 million in tax credits. Now, Clarus R+D is thrilled to unveil version 2.0, which allows businesses of all sizes, as well as tax practitioners – whether solo practices, big 5 firms or anything in between – to utilize the same time-saving, cost-saving, tax credit software platform that has been so successful for start-ups and growth businesses.
“The start-up community was a natural initial target audience for us,” explained Jeff Haskett, Clarus R+D’s CEO and Co-Founder. “To be able to ensure that struggling entrepreneurs and growth businesses could take advantage of the country’s largest tax incentive, in many cases giving those businesses the capital they needed to continue to develop and thrive, was not only logical – it was necessary. We are thrilled to take our experience and expertise to larger enterprise companies and tax practitioners. By providing easy-to-use streamlined data gathering, smart credit calculation, expert guidance and support, and a platform that will play nicely with other technological tools, we are confident we can help larger businesses and CPAs save money and time – the most valuable assets for any business.”
R&D PLATFORM FOR ALL
While the R&D tax credit program appears to be simple and straight-forward when considering the items necessary for completion, it is the required process and documentation behind the final form that is detailed, time-intensive and dependent on a certain level of expertise. The greatest benefit that the Clarus R+D platform provides is that the software runs automated calculations on users’ R&D studies using both methods – regular and simplified – to ensure that the final incentives are optimized for each client. Clients save valuable time as a result of the automated dual calculation process, and they maximize their R&D tax credit.
Additionally, Clarus R+D has designed its platform to allow start-ups, growth businesses, enterprise companies, and tax practitioners of all sizes and scopes to easily provide details regarding any and all potential R&D incentive-worthy projects, and go through the four-part test (permitted purpose, technological in nature, elimination of uncertainty, and process of experimentation), which is an integral part of any R&D tax study project. Users can also easily submit any and all relevant expenses. IRS regulations require any company filing for an R&D tax credit to have and keep certain supporting documentation, and the Clarus R+D platform ensures that every R&D study completed includes all of the necessary backup evidence and documentation, modeled after the IRS R&D Audit Technique guides. The platform truly simplifies compliance.
ABOUT CLARUS R+D
Clarus R+D is the leader in world-class technology that enables every business to unlock the full value of R&D tax credits for innovation and growth. Founded by tax and technology experts, Clarus R+D builds cloud-based software so companies of all sizes can realize and optimize the power of America’s largest tax incentive to materially impact their business. Clarus R+D also partners with CPAs who need a smarter way to prepare R&D tax credit studies. To learn more, visit https://clarusrd.com.
MEDIA CONTACTS
Tammy Marino
tammy.marino@orcapr.com
Martin Stein
martin.stein@orcapr.com
