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March 10, 2023
1 min read
We couldn’t be more excited to announce that Neo.Tax has been named a Top FinTech Product in the 2023 Product Awards. The Product Awards, presented by Products That Count in partnership with Mighty Capital and Capgemini, is the only awards show designed to celebrate the tools that help Product Managers build great products.
Nominees are chosen by Products That Count’s product manager network, and winners are chosen by an independent Awards Advisory Board composed of top product leaders. This year’s Board included product leaders from companies like Intuit, Oscar Health, and Macy’s.
Neo.Tax is the only software solution that gives companies a 360-degree view of their R&D expenditures — we’ve solved for everything from R&D Credit filings to R&D Capitalization. By giving innovative founders, CFOs, and CPAs the ability to understand the true cost of spending on R&D, Neo.Tax can make sure innovation remains a valuable tool for American companies committed to building the future.
“The bar for what makes a great product gets higher every year,” said SC Moatti, founding CEO of Products That Count. “Neo.Tax is a testament to that. We expect them to keep defining what it means to be at the cutting edge of product, not only in 2023 but also in the years to come.”
“This is particularly exciting for us for a number of reasons. First, I'm a product manager turned founder, so product is really at the core DNA of what we do at Neo.Tax and we take great pride in building our product. It's awesome to get that kind of recognition from folks that really know great product,” said Neo.Tax cofounder and CEO Ibrahim. “Secondly, because our product helps other product companies build great products by allowing them to get a credit for any investments that they made in developing new products and new features, this is doubly cool. Thank you so much for this award!”
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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.
