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THE APRIL 18TH TAX DEADLINE IS APPROACHING FAST
DON'T FORGET TO CLAIM YOUR R&D TAX CREDIT! BOOK A CALL TODAY
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June 22, 2022
1 min read
Luckily, this time around what happened in Vegas isn’t staying in Vegas. We’re giving you a quick recap of what you need to know from the week’s festivities.
Amongst a sea of interesting discussion panels and presentations, it is tough to pick just one. But if we have to, Starting A “Technology Focused” Advisory Practice, Where To Begin was a highlight. Our takeaways from the session were:
As the week began to wrap up, the Neo.Tax team was able to reflect on diversity, equity and inclusion during the Diversity Panel with Kimberly Ellison-Taylor, Alfred Ko, Becky Sproul, and Ken Bouyer. Accounting Today covered the eye-opening panel in a recent article.
One event that happened in Vegas and will stay in Vegas, was the Neo.Tax and Glean.ai Happy Hour capped off the week. For all those who attended, thank you for coming. For those who couldn’t make it, we won’t blame you if you have a little bit of FOMO (fear of missing out) – it was a blast and a perfect way to wrap up a terrific AICPA conference.
To the delight of accountants everywhere, the busy season is over. But it’s not too late to offer the R&D Tax Credit to your clients or file it with their extended tax returns. Our innovative software will:
Not to mention the latest addition to Neo.Tax’s product offerings, Platform, our answer to the accountant’s almighty workpapers. With the power of AI, Platform can analyze accounting data by uncovering anomalies and making adjustments all in one place. Who said there isn’t an easy way to do things?
The Neo.Tax Team enjoyed a fantastic week that culminated in an exciting networking happy hour. We can't wait to see you at the next event.
Until next time.
The Neo.Tax Team
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At Neo.Tax, we talk to scores of controllers and Heads of Tax every month. One thing is clear: the old way of filing for R&D Tax Credits has become a burdensome pain. You’d think that so many businesses moving their project management and payroll online, via software like Jira, Rippling, and Workday would simplify the filing process. But, in some ways, it’s made it harder.
The payroll and project management output is a rich dataset, but it’s also, well, voluminous. If that data is not inputted perfectly—and let’s be honest, it never is—that means it’s up to a controller or Head of Tax to sift through the mess to create the filing. Engineers need to be trained (and retrained) on the correct project tagging process, and then cajoled to sort out any inputting errors. It’s a waste of time for your filer and your engineering teams.
Which is why Neo.Tax created our AI system.
No one starts a company because they’re excited about accounting and taxes. Well, no one except the Neo.Tax founders :)
But for those other 99% of founders, here’s a cheat sheet and guide to ASC 350-40, an accounting guideline that pertains to Internal-Use Software Development Costs. Maybe you’ve never heard of ASC 350-40, but you should get to know the rule if you ever plan to go public.
