We Can Help Setup A System

EVAMAX can help you start documenting potential projects, namely products or processes that may qualify.

We will evaluate all your company’s activities for potential eligibility, then set up a system to begin tracking qualifying expenses and gathering documentation to support the costs. This will save you time and strengthen your claim.

To start, collect documents that:

  • Substantiate amounts, including financial, tax, and payroll records
  • Tie in the amount and the activities performed, such as project accounting or time-tracking records
  • Identify and show qualified nature of activities, such as development reports, patents, testing documentation

Documentation examples can also include employee time tracked to projects and time survey estimates based on project development notes, test reports, project designs, e-mail communications, and mock-ups or models. For software development projects, it can also include information taken from project management tools or code repositories that help demonstrate an iterative process of experimentation.

Documentation Tips

  • Retain notes, design revisions, and other support related to potentially qualifying projects in one place.
  • Isolate and track expenses related to potential R&D activities in a manner that works for your business and accounting system.
  • Give due attention to contract agreements, the IRS and state authorities are likely to request your contracts to verify that your company bears the financial risk of those contracts and retains rights to any intellectual property developed.
  • Be particularly cautious if you plan to carry credits forward. Companies on the verge of profitability (or that have plans to sell or go public) may be more scrutinized if they claimed credits on their tax returns to carry forward and use later.

To schedule a no obligation consultation

For assistance in preparing your submission and to position your application for approval contact EVAMAX Group to help you with the process. You may also email us at info@evamax.com or call 1-877-711-7733.