• Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Kelid™

  • R&D Funds
    • Filing SR&ED
    • SR&ED Eligibility
    • DIY SR&ED Business Fund
    • SR&ED FAQ
  • Business Funds
    • Research and Development Funds
    • Hiring Funds
    • Business Expansion Funds
    • Digital Media
  • Business Services
    • Business Training
    • Business Plans
    • Project Management and Planning
    • Business Advisory
    • Business Loans
  • About
    • Careers
    • Resource
      • ebooks
      • Download Kelid’s Flyer
      • Free Newsletter Subscription
  • Blog
  • Contact Us

April 30, 2014 by Kelid Leave a Comment

The Truth Behind DIY SR&ED Tax Credit

DIY SR&EDIn order to make sure that you claim all related expenses and maximize your SR&ED tax credit, you will need to possess some specialized knowledge in accounting and a team of technical experts in the field. More specifically, you have to have some specialized knowledge such as:
-Legal knowledge such as Income Tax Act and Tax Court of Canada rulings
-Updated knowledge of CRA guidelines and their procedures
-Expertise when it comes to solving financial and technical reviews
-Dispute resolution

Statistics show the number of complaints to MPs and objections to CRA have been increased dramatically in the past 3 years. CRA would not have been forced to educate its personnel so deeply to encourage claimants to DIY SR&ED tax credit mainly because of complexity in application procedure for majority of claimants! Through engagement of SR&ED consultants  the news have been spread all across Canada and there are more than 20,000 small to large businesses (CCPC and non-CCPC) who are taking advantage of the Canada tax credits. SRED consulting services have been significantly grown to simplify application process for current and new claimants.

Engaging an experienced and professional SR&ED consultant requires mutual involvement to assure following CRA guidelines through the entire filing process which includes Eligibility of the projects, Technicality of the reports, Documentation and Filing. It will be wrong by saying that either claimants or consultants are unnecessary in preparing SRED claims.Because of the high level of familiarity with the work performed, claimants are as just as important in this process as the consultants. Both claimants and SR&ED consultants can bring valuable knowledge to the table that can help conclude a successful SR & ED submission.

Discussing the necessary steps for the entire process with your consultant is really important when you are trying to DIY SR&ED.

For a 30Mins free no obligation consulting service contact us. Kelid™ has developed a SR&ED Fund Assessment Look Up, SR&ED Claim Calculator and Contingency Fee Estimator  to simplify submission of your SR&ED claims. We also invite you to join our monthly news letter or follow us on Twitter, Linked-in, Facebook, or Google+ for latest government funding news and articles.

Filed Under: Business Funds, SR&ED, T661, Tax Credit Tagged With: Claim Review, DIY SR&ED, federal tax return, tax credit ontario, tax credits

About Kelid

Kelid™ assists small to medium size enterprises (SME) to file applications for wide ranges of provincial and federal funding programs.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Request Info

We assist you to apply for Canadian Government Funds and Grants

Search Funds

Recent Articles

Grants to Reduce Green House Gases in Ontario

May 17, 2017 By Gargi Garach

Sell Your Innovation To the Government of Canada

April 19, 2017 By Gargi Garach

Grants for Collaboration with Academic Institutions

March 27, 2017 By Gargi Garach

Footer

About Kelid™

Business Funds Consulting Services

Kelid™ assists small to medium size enterprises (SME) to file applications for wide ranges of provincial and federal funding programs.

1-416-893-2921

Address 1: 18 Stoneybrook Crt
Thornhill, ON, L3T 1G6

Address 2: Suite 1901, 5000 Yonge Street, Toronto, ON, M2N 7E9

 

Main Menu

  • Home
  • About
  • Testimonials
  • Blog
  • Careers
  • 1-416-893-2921

Share us

Copyright © 2023 · Executive Pro on Genesis Framework · WordPress · Log in