The consulting firm was looking to make an SR&ED claim for the expenses associated with developing a new software application to help their clients manage their businesses more efficiently. The application was designed to integrate with existing systems, giving clients a unified view of their operations.
The objective of the consulting firm was to optimize their expenses associated with the development of the software application to help them maximize their SR&ED claim.
The consulting firm worked with a tax specialist to identify all eligible expenses associated with the software development project. This included research and development costs, employee salaries and wages, materials, overhead, and other related costs. The consulting firm worked with the specialist to create a detailed claim that was tailored to their specific situation.
Stratos worked with the client to quantify the eligible work for SR&ED including: 1. Experiments and testing related to the development of an improved process, material, device, or service. 2. Designing, constructing, and testing prototypes. 3. Identifying and resolving technological uncertainties. 4. Researching, analyzing, and interpreting data. 5. Gathering information, formulating hypotheses, and developing theories. 6. Developing computer software and programs to support the research and development activities. 7. Developing, constructing, and testing models, molds, and tooling. 8. Making modifications to existing products and processes. 9. Defining and implementing improvements to products, processes, materials, and devices. The consulting firm was successful in their SR&ED claim and was able to maximize the amount of their claim. The consulting firm was able to utilize the funds to further the development of their software application and to improve their services for their clients.