R&D Case Study: Financial Services
Case Studies Unlocking R&D Tax Credits in the Financial Services Industry A Comprehensive Source Advisors Case Study R&D Tax Credits
Source Advisors
In an industry where well-being is paramount, R&D is the cornerstone for innovation. Discover how Source Advisors transformed the R&D tax credit landscape for an industry-leading company specializing in health and pet care.
For over 25 years, this company has been a stalwart in promoting healthy lifestyles and pet care through extensive research and development. Not only have they set high benchmarks in production standards and quality control, but their work is also widely recognized and published in medical and veterinary journals.
Managing a multi-disciplinary team, adhering to stringent regulatory standards, and refining products through a constant cycle of testing and reformulation present the company with a unique set of challenges in R&D.
The company engages a multi-disciplinary team comprising the R&D Laboratory, New Product Development, Analytical Chemistry, Project Managers, and the Executive Team in its R&D cycle. From investigating pharmacokinetics across different species to developing accurate testing assays, their work covers a broad spectrum of research activities. All these tasks contribute to the final product, whether it be in liquid, tablet, or powder form, ensuring its efficacy and safety.
Source Advisors partnered with the company to not just be a service provider but an educational resource as well. Our detailed understanding of the R&D process in health and pet care made us more than a consultant; we became a decade-long strategic partner.
We conducted a thorough review of the company's multi-faceted R&D activities, focusing on everything from pharmacokinetics studies to assay development, thereby identifying all qualifying expenses.
We scrutinized financial records, covering labor costs, supplies, overheads, and other R&D-related expenditures, to calculate the potential federal and state tax credits that the company could claim.
Our team ensured that all identified R&D activities and expenditures were in compliance with federal and state tax laws, making the claims audit-proof and optimizing the company's tax benefits.
Don’t miss out on the potential to maximize your R&D tax credits. Source Advisors can help you identify, claim, and sustain these valuable tax benefits.
Contact Source Advisors today to explore how we can unlock tax advantages for your food or beverage company.
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