Tell us about your development projects.
Describe what your business develops or improves and what makes the work technically uncertain. A few specific examples are more useful than saying everything is innovative. Mention the years, entities, and states involved, along with any filing deadlines your accountant has identified.
Tell us if you have claimed a research credit before, received an earlier study, or changed ownership. An engagement that looks like a first study to the current team may still involve historical calculations or records that affect the review.
You can begin with a high-level discussion. Do not send payroll, tax returns, or confidential project files through the public website form.
Who should take part in the study?
Identify a technical contact and a finance or accounting contact. The technical contact should know the development questions, alternatives, and project history. The finance contact can locate payroll, expense records, and earlier tax workpapers.
Your accountant helps connect the study to the return and filing calendar. Decide who will coordinate requests so employees do not receive competing lists from different people. For a small company, one person may fill more than one role, but the questions still need to be addressed.
Which records should you gather first?
A short project list gives the review structure. Include the project name, dates, technical lead, what was being developed, and where supporting records are stored. Note cancelled or unsuccessful work as well as completed projects; the final business outcome is not a substitute for reviewing the activities.
- Project plans, design files, tickets, or experiment records.
- Payroll detail and available time or job-cost information.
- Contractor agreements, invoices, and work descriptions.
- Potentially relevant supplies and expense detail.
- Prior credit calculations and historical financial inputs.
This is a starting inventory, not a request to reconstruct every file before calling. The document request guide explains a staged approach that can help your accountant organize collection.
What happens during the review?
The study process should test the initial description against the records. Some project phases may support further review while others are routine or outside the requirements. Employee duties and contractor arrangements may also need separate analysis.
When evidence is missing, identify the gap and discuss what other records exist. Avoid filling gaps with uniform percentages or descriptions that staff cannot verify. The study should explain what the records support and where information is missing.
Credit calculations also need historical inputs and method considerations. Being a first-time claimant does not automatically mean there are no prior-year research expenses. Discuss the regular and ASC methods in light of the available records.
Confirm deliverables, timing, and fees.
Define the expected package before work begins: activity descriptions, qualified research expense schedules, source reconciliations, calculation workpapers, and outstanding questions. Identify who reviews factual descriptions and who handles return-level elections and filing.
Ask what happens if additional years or states are added. Discuss timing based on record availability and the agreed scope, rather than assuming every study takes the same amount of time.
Paribus Advisors has no up-front fees. Call to discuss your first study, the preparation your accountant needs, and the fee terms for your project.