Financial Software Company

Financial Software Company

Client Profile
The client is a financial software company headquartered in Dallas, Texas, with employees located remotely across the United States. Founded originally as a communication platform in 1978, the company has expanded through multiple acquisitions over the years. Today, they employ approximately 45 people.

Process
As a current year client who had previously claimed the R&D tax credit, our R&D Tax Credits team followed an established process updated for the latest tax year. The team conducted remote fieldwork to comprehensively capture information about the company’s qualified research activities and expenses. Additionally, the client requested an accelerated timeline to receive the credit calculation earlier than their extension filing deadline for tax planning purposes. Adhering to the client’s mid-March deadline was the primary challenge; however, our team streamlined their workflow to meet this accelerated timeline.

Study Results
For the 2023 tax year, we calculated $2,155,330 in qualified research expenditures related to the company’s financial software development activities. This entitled them to a $113,627 effective federal R&D Tax Credit.