You need a SR&ED Consultant. Here’s 5 reasons why.

A SR&ED Consultant works with a Business Owner, reviewing research notes.

To file your own SR&ED claim, or to hire a consultant – that is the question!

1.      A SR&ED Consultant’s expertise means maximum returns with minimal risk.

When you hire a SR&ED Consultant, like our team at Ward Weber Associates, you’re taking a significant step in moving your business forward, while also side-stepping significant risks that come with filing your own claims. A consultant ensures that every qualifying expense for every qualifying project is tracked and claimed properly, meaning that you’ll receive the largest return possible.

2.      A Consultant works with you to collect highly-detailed, accurate, well-organized information.

While the Provincial and Federal Governments are making the SR&ED program more accessible to researchers and business owners, there will always be highly specific policies and protocols that every SR&ED claim must follow. It’s all part of how the CRA ensures businesses and individuals are kept accountable.

The information in your claim must be whole, accurate, and follow the regulated format. It’s not impossible to learn how to file your own SR&ED claim, of course, but it can take up a significant amount of valuable time and resources. If you’re a do-it-yourself type, be sure to take the time to ensure that you fully understand what’s required by the CRA. If you’re in need of support, we’d love to answer your questions.

3.      A Consultant means you avoid mistakes, denied claims, and costly penalties.

Even if you have the time and the resources necessary to learn how to file your own SR&ED claim, mistakes happen. These mistakes can, at best, result in a denied claim and, at worst, result in costly penalties.

The best way to avoid a denied claim or penalizing fines is to be an expert, or to hire one. Consultants are devoted to collecting intricate details about a business’ research and development projects, and presenting them in a precise way to achieve maximum returns. The WWA team is thrilled to continually learn about clients, their businesses, products and projects, and to watch them grow.

4.      A Consultant helps you make the most of time & resources.

One of the more difficult parts of filing a SR&ED claim is thoroughly tracking time and expenses that go into a research project. Additionally, a company can juggle multiple research, development and experimentation projects simultaneously, which means even more data needs to be logged, tracked and organized.

A SR&ED Consultant can work with you to develop a custom time and expense tracking solution which works with tools and resources you already have (like QuickBooks, or Excel, for example). They can also help you get into the ongoing habit of tracking, so you’re not searching for missing information at tax time. Plus, a SR&ED Consultant’s expertise and keen set of eyes means they can identify claimable elements of your projects that you may have overlooked.

5.      A Consultant gets to know you, and helps you plan for the future.

The Canada Revenue Agency provides tools and resources for learning about SR&ED and how to file a claim, and they can consult with you on future projects. What the CRA can’t do is form a strong, professional relationship with you.  

When you hire a SR&ED Consultant, like Ward Weber Associates, they become a member of your team and a champion of your business. Year after year, we’ll be there to celebrate every advancement and to help spearhead every idea – big or small. You can click here to send us a message. We’re so excited to get to know you.

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5 Reasons your SR&ED Claim could be more valuable than you think.