Clarus R+D is proud to be recognized as an honoree for the 2022 Inno BizTech Fire Awards.  This annual program, presented by Columbus Business First, splotlights local companies that are driving innovation through technology.

All  honorees will be celebrated at an event taking place in December 2022.

At Clarus, we are committed to making tax credits accessible to hardworking business owners.  Our world-class platform combines technology and expert support to get money back into the hands of innovators across the country. 

To date, we have helped businesses claim over $200M in credits.

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Clarus R+D is proud to be a recipient of Columbus Business First’s Fast 50 Award for the second consecutive year. This award honors 50 companies in the Columbus region who have posted the best growth rates from 2019 through 2021.

The final rankings will be unveiled at an awards ceremony on October 20th.

At Clarus, we are committed to making tax credits accessible to hardworking business owners across the country.  Our growth is a result of our amazing and dedicated team members who work tirelessly to support SMBs. By combining technology and expert support, the Clarus R+D solution gets money back into the hands of hardworking business owners.

To date, we have helped businesses claim over $200M in credits.

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Clarus R+D is proud to announce that we have been nominated as one of Columbus Business First’s Best Places to Work in Central Ohio. Additionally, we are one of only 10 local companies nominated in our category.

This annual award is Columbus’ longest-running workplace recognition program, and honors local companies who have maintained a supportive and positive environment, especially as they navigate pandemic-related changes and shifts in the business ecosystem. Nominated companies must also “have strong cultures that reinforce values and mission”.

The nominees are determined by workplace satisfaction surveys, completed by their employees, and are then placed into categories based on their size.  The final rankings will be revealed at a celebratory awards gala later this year.

We are grateful to our amazing team for working tirelessly to make tax credits accessible to the small business community, and are proud to be recognized with this award.

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Chris Winslow, CEO of Clarus R+D, spoke with Accounting Today about how the historic Inflation Reduction Act demonstrates continued bipartisan support for research and development in the US.

Small businesses are particularly impacted by this historic bill. By doubling the amount startups can claim of the R&D credit, as well as expanding it to be able to be claimed against both Medicare and FICA payroll taxes, the federal government has shown its commitment to supporting growing American businesses. As small businesses extend their capabilities and invest in their research and developmental work, the opportunity to claim the R&D tax credit becomes increasingly valuable.

The new provisions in the Inflation Reduction Act provide a higher incentive for companies to take advantage of this lucrative credit.

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Our VP of Operations, Monika Diehl, spoke with Law360 about the Inflation Reduction Act and how expanding the R&D tax credit will be especially important to smaller businesses across the country.

The Inflation Reduction Act, signed into law on August 16, 2022, includes significant legislation for various issues. One of the most noteworthy is an increase in the Research and Development Tax Credit.

The credit will see an increase of $250,000, which is double its original amount. Additionally, the Inflation Reduction Act allows the R&D tax credit to be claimed against both Medicare and FICA payroll tax obligations, as opposed to just FICA. Both of these changes significantly benefit companies working to create and improve products or processes.

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Clarus R+D CEO Chris Winslow spoke with Carrie Ghose at Columbus Business First on his transition to the role and how the company’s accelerated growth will make the R&D tax credit more easily accessible to businesses of all sizes.

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SOC 2 compliance is a crucial framework for technology and cloud computing companies today. Created by the American Institute of CPAs (AICPA), the goal of SOC 2 is to make sure that systems are set up to assure the security, confidentiality, and privacy of customer data. It demonstrates an organization’s commitment to maintaining a high level of information security.

Clarus R+D is proud to be certified as SOC 2 (type II) compliant.

The goal of SOC 2 is to make sure that systems are set up to assure the security, confidentiality, and privacy of customer data.

Becoming SOC 2 compliant involves adhering to a complex set of standards and requirements pertaining to how a company safeguards data and how well those safeguarding measures are performing. Being type II compliant involves a more thorough audit process to observe how security functions operate over a longer period of time, instead of an audit done from reports taken at a specific moment in time.

SOC 2 audits are performed by auditors at licensed CPA firms who specialize in information security. Receiving a SOC 2 certification indicates that an organization has significant security processes in place in order to protect customer data, confidentiality, and privacy.

R&D studies require the compilation of personal and sensitive information, including wages, employee details, and company product information. Having systems with advanced security measures allows users to feel confident since this data is crucial to building R&D studies that are IRS compliant and defensible in the event of an audit.

At Clarus R+D, we are committed to the security and protection of client data. Our R&D tax credit platform is built around IRS standards to provide defensible and complete R&D studies, all while securing the sensitive information that is used within these studies.

Sophisticated Software Forever Alters The Way R&D Credits Are Claimed

COLUMBUS, Ohio May 12, 2022 – The newest version of the Clarus R+D Tax Credit Platform has been released globally.. Clarus R+D, a fintech software company focused on accelerating the funding of innovation through technology, is announcing its game-changing platform to help companies maximize their R&D tax credits.  The sophisticated and robust platform is the industry leader to make claiming the credit compliant and efficient, just as companies have learned applying for America’s largest and most underutilized tax incentive — the R&D tax credit — has become even more complicated.  

The Clarus R+D executive team will be presenting the R+D Tax Credit Platform at the upcoming Marcus Evans Tax Officers Summit at the Four Seasons Resort in Dallas, May 12 to 14. 

R&D expenses must now be capitalized and amortized over the course of five years for domestic activities (and 15 years for research and development outside of the U.S.) rather than being applied to the current year. This and other changes in legacy legislation create uncertainty where any mistake can result in lost tax benefits at best and IRS audits at worst. The Clarus R+D tax credit platform eliminates audit risk while streamlining the process.

“No matter how many legislative changes occur at the federal level, our new platform will adjust and adapt so that our users will always have a guarantee of defensibility and clarity,” said Brent Johnson, Clarus’ co-founder. “The platform truly simplifies compliance.”

The new platform also allows practitioners to easily provide activities and expenses for all potential R&D incentive-worthy projects on behalf their clients and go through the four-part test (permitted purpose, technological in nature, elimination of uncertainty, and process of experimentation), which is an integral part of any R&D tax study project. 

The platform is SOC 2 compliant and built to ensure the highest level of cyber security. Backend access lets coordinators manage entire teams while individual members have access to work with specific customers, and the ability to generate up to 600 reports per annum. The platform ensures that every completed R&D study includes all required evidence and documentation as outlined in Treasury Regulations and that the reports generated are modeled after those outlined in the IRS’s audit technique guide.

Clarus R+D is proud to announce that the newest version of our R&D tax credit platform was released on May 2. The updated platform features:

• software enhancements
• a cleaner, more streamlined user experience
• better functionality to assist with complex R&D studies

The research and development tax credit is America’s largest tax incentive, but it is extremely underutilized due to its complex nature. Built by R&D tax experts, our platform automates R&D study processes and directly adheres to IRS code. Whether you are completing one study or hundreds, the platform will guide you step-by-step through the process while ensuring you have all necessary documentation to remain IRS compliant. Our expert team is also available for support and guidance along the way. 

Our mission is to ensure that companies of all sizes can realize and optimize the power of the R&D tax credit in order to materially impact their business. We are excited to unveil these platform updates and continue to make the R&D tax credit accessible to innovators across the country.  

For an overview of exciting new features offered in this platform update, watch the video below.

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