Industry: Software Development
Company Size: 35 Employees
Annual Revenue: $8M
R&D Tax Credit Savings: $300,000
Challenges in Software Development
A growing SaaS company specializing in workflow automation software was continuously improving its platform, integrating new AI-driven features and backend optimizations to enhance user experience. Their developers frequently conducted beta testing, performance tuning, and API integrations, but they were unaware these technical advancements qualified as R&D.
Our Approach
1). Software Development Analysis: Identified key R&D activities, including feature enhancements, debugging processes, and software scalability improvements.
2). Expense Identification: Captured eligible developer wages, cloud computing costs, and testing expenses.
3). IRS-Compliant Documentation: Provided an audit-ready report showcasing their software development lifecycle and iterative improvements.
4). Future R&D Strategy: Implemented a tracking system to document ongoing and future qualifying software enhancements.
Outcome
- Secured a $300,000 R&D tax credit, allowing the company to reinvest in further AI development.
- Optimized internal documentation processes to streamline future tax credit claims including methodologies to identify projects through funding analysis and qualified expenses.
- Strengthened financial flexibility, enabling continued product innovation.
Unlock Your R&D Tax Credits Today
At Credits Granted, we help businesses uncover hidden R&D tax savings while ensuring full compliance.
Want to see if your company qualifies? Schedule a Free Consultation today.
