As a CPA, one must be a wise and trusted advisor. At BRAYN, we see the analogy of the bishop on the chess board who must keep the entire board in mind and move diagonally across the board as required. The bishop here is the CPA, and the board represents the penumbra of personal and business tax issues of the taxpayer. Therefore, when selecting an R&D tax credit consultant, and/or consultant for other incentives like 179D, 45L, Cost Segregation, and others, the CPA often considers many factors, including:
- Competency of the consultants – Competency includes both education and experience of not only who the consultants highlight in their materials, but also on who actually works on the projects.Make sure your projects are not being handed off to inexperienced staff and demand to know who will be on the project team. At BRAYN, only highly seasoned professionals with backgrounds at Big-4 or other national tax firms, and industry experience will be working on your project.
- Value proposition offered – Scrutinize the fee type and the end product offered. Fee types can vary from hourly, hourly with percentage caps, and fixed-fee arrangements, among others. Also, keep in mind what the final product is going to be: a cookie-cutter summary, or comprehensive deliverable demonstrating what was completed, how, and why. BRAYN operates on fixed-fee arrangements, and issues a high quality, comprehensive deliverable completed with an eye towards examination, designed to stand on its own.
- Sensitivity of consultants to needs of client and CPA – Ensure the consultants have the capacity to complete jobs timely with enough time for the “ink to dry” prior to when returns need to be filed. Many times there are important issues, options, and elections to discuss prior to filing. Additionally, issues like client utilization, cash flows, carry backs, carry forwards, and other potential limitations are practical issues to consider. Beware of consultants that want to sign-up the client without first understanding these issues.At BRAYN, we like to address these issues from the start during our Phase I process. Our Phase I analysis is a no obligation, complementary assessment of benefits likely available to the client, along with fixed-fee options to meet the client’s needs.
Different factors can affect each type of credit and incentive; let BRAYN Consulting assist you by helping sort through the potential benefits along with related requirements.
BRAYN works with the CPA firm and the client to identify opportunities, claim, and document these incentives in a timely and efficient manner.
We help you find additional tax credits and incentives through our 3-phase process:
Let BRAYN uncover tax credits and incentives to help you bring optimal value to you, your firm, and your clients.
Please also check out our busy season checklist for a quick reminder on incentives with which we can assist.
If you’re ready for your complimentary Phase 1 assessment, or would just like to learn more, contact BRAYN at 888.773.8356, ext. 700 or firstname.lastname@example.org