Webinar: How to Optimize Your SR&ED Tax Credits?

Emergex, in partnership with Inno-centre, presents the webinar entitled: “How to Optimize Your SR&ED Tax Credits?”

Preview of the conference:

  • Are you claiming all the R&D credits your company is entitled to?
  • What are best practices and strategies for SR-ED claims to maximize your reimbursement?
  • What are the most common mistakes? (type of compensation, outsourcing, profit vs. credit rates, optimization with other programs, etc.)
  • Do you proactively manage the audit risks by the CRA, and therefore potential cuts, in the current context of administrative and financial tightening of the program?

If you are not 100% convinced of your answers to these questions, do not miss this webinar with Pierre Savignac, CEO of Emergex SE&ED Consultants and partner of Inno-centre for over a decade, who will share with you his 20 years of experience in SRED!

Emergex SR&ED Consultants is a professional services firm specialized in the financing of technological companies through the Scientific Research and Experimental Development (SR&ED) and E-Business (CDAE) tax credits, the Industrial Research Assistance Program (IRAP) and other government assistance.

Since 30 years, Inno-centre offers consulting services to innovative SMEs at various stages of their development. Its team of over 80 advisors intervenes throughout Quebec from its offices in Montreal and Quebec City. It has been recognized as one of the most successful Canadian accelerators by a committee of venture capital specialists retained by Finance Canada, as part of the selection for the Canadian Accelerator and Incubator Program (CAIP).

Inscription

Seminar on the technological aspects of the SR&ED program (in French)

  • Can you claim hours spent for project management, for training or for writing documentation as eligible SR&ED expenses?
  • Do you know how to define the start of a SR&ED project?
  • Must you absolutely use a timesheet system to claim SR&ED?
  • Can you claim work done by a subcontractor?
  • What tools can you use to simplify the collection of data to prepare your SR&ED claim?
  • Do you know what activities are eligible for the SR&ED program?
  • Do you know what your role is in SR&ED?
  • Do you know what inspectors expect?
  • Do you know if a technical resource can automatically be claim in SR&ED?

If you don’t have the answer to all of those questions, you risk losing your full potential for tax credits.

This event will be held on Wednesday, July 18th 2018, from 9 am to noon at Emergex’s head office.

Please note that this event is reserved for our clients and will be held in French. To reserve a spot, contact Stefania at 514-765-3333 #780.

Because places are limited, reservations are taken on a first-come, first-served basis.

Seminar on the financial aspects of the SR&ED program (in French)

  • Is a bonus paid to a specified employee an eligible SR&ED expense?
  • Does your taxable income have an impact on the rate of the tax credits and on your eligibility for a refund?
  • Is the salary of an administrative project manager eligible as a SR&ED expense?
  • How do you structure a contract with a subcontractor or a client to make sure that it can be claimed for SR&ED
  • Is it necessary to own the intellectual property of the finished product to claim SR&ED?
  • Is work done outside Canada eligible for SR&ED?
  • Are SR&ED expenses that have yet to be paid eligible?
  • Can SR&ED tax credits be pre-financed?

If you don’t have the answer to all of those questions, you risk losing your full potential for tax credits.

This event will be held on Wednesday, June 20th 2018, from 9 am to noon at Emergex’s head office.

Please note that this event is reserved for our clients and will be held in French. To reserve a spot, contact Stefania at 514-765-3333 #780.

Because places are limited, Reservations are taken on a first-come, first-served basis.

We hope to see you there.

The Government Is All But Giving Away Money To Startups – And You’re Missing Out

Mike C. Evans, one of Emergex’s client managers based in our Toronto office, was asked for an interview by a journalist from Tech & Design. The article written provides an introduction to the government program of tax credits for SR&ED, as well as its challenges, especially for startups. Emergex is mentioned several times, especially for its ability to assist startups and other companies of all sizes in the claims process. Emergex also plays a role of education for startups, which by definition would be the first beneficiaries of SRED, but often do not know the program. Here’s an excerpt of this interview:

If you’re a startup developing experimental technology – and that’s most startups in Canada – the government wants to help you recoup a good chunk of the costs that come with cutting-edge R&D.

Administered by the Canada Revenue Agencythe Scientific Research & Experimental Development program (SR&ED) offers a tax credit for eligible R&D expenses. The program has no fixed budget, so all eligible claims are approved. Mike Evans, Client Manager for SR-ED consulting firm Emergex, says that in 2012 alone the program processed 25,000 claims worth $3.6 billion in tax credits.

“The government is helping innovation in Canada by reimbursing some of the R&D investments that these companies have made,” says Evans. “SR&ED has been around for 25 years and yet, believe it or not, you’d be amazed how many people don’t know about it, and worse, how many think they’re not eligible.”

Emergex, which has been in this business for 20 years, helps tech startups determine their eligibility for SR&ED claims, and as well to put together and file those claims.

There are two parts to a claim. The first contains a 1400-word technical narrative describing why the R&D in question is eligible. The second part consists in a financial data collection that must be carefully right-sized (neither too much nor too little) to make sure the dollars being claimed match and support what’s actually been done. Success means recouping about 68% (for Ontario) of eligible salaries and in some case bonuses. A rejection or mishandled claim could lead to an audit, which Emergex is also well-equipped to defend.

“The biggest mistake startups make is when they try to file a claim themselves,” says Evans. “It’s a skilled, complex, sophisticated process. It’s not like filling out a T1 for your income tax return and 20 minutes later it’s done.”

Both parts are challenging. The technical narrative may seem straightforward, but “it’s where most of the claims are denied,” Evans says. “It’s knowing how to describe the technology in a way that meets some basic criteria: did the company have to overcome any technological uncertainties? Were there obstacles that had to be overcome that couldn’t be fixed by off-the-shelf solutions?”

The next step is to determine the number of eligible hours, a process which can often stall the claim. “What we find is that, especially with the smaller companies, they’re busy building and selling their product, and they’re not always the best administrators and accountants. So when we ask them to extract and compile the numbers – in other words, the efforts invested in hours and how much they pay people – that can be a challenge because they have no records, or poor records.”

A big hurdle Emergex is working to overcome is the 42% of companies that could file for SR&ED just don’t (according to Canada Revenue Agency’s own statistics), for lack of knowledge.

“Just about anybody that is a startup could be eligible,” says Evans. “They’re innovators who believe they have an idea that’s new, or else they wouldn’t be doing it. So by definition that means they could be eligible for SR&ED, and I wouldn’t discourage anybody from giving us a call and inquiring.”

You can reach Mike Evans by e-mail at mevans@emergex.com or by phone at 905-849-3033 #645.

Seminar on the financial aspects of the SR&ED program (in French)

  • Is a bonus paid to a specified employee an eligible SR&ED expense?
  • Does your taxable income have an impact on the rate of the tax credits and on your eligibility for a refund?
  • Is the salary of an administrative project manager eligible as a SR&ED expense?
  • How do you structure a contract with a subcontractor or a client to make sure that it can be claimed for SR&ED
  • Is it necessary to own the intellectual property of the finished product to claim SR&ED?
  • Is work done outside Canada eligible for SR&ED?
  • Are SR&ED expenses that have yet to be paid eligible?
  • Can SR&ED tax credits be pre-financed?

If you don’t have the answer to all of those questions, you risk losing your full potential for tax credits.

This event will be held on Wednesday, February 14th 2018, from 9 am to noon at Emergex’s head office.

Please note that this event is reserved for our clients and will be held in French. To reserve a spot, contact Lysanne at 514-765-3333 #590.

Because places are limited, Reservations are taken on a first-come, first-served basis.

We hope to see you there.

Seminar on the technological aspects of the SR&ED program (in French)

  • Can you claim hours spent for project management, for training or for writing documentation as eligible SR&ED expenses?
  • Do you know how to define the start of a SR&ED project?
  • Must you absolutely use a timesheet system to claim SR&ED?
  • Can you claim work done by a subcontractor?
  • What tools can you use to simplify the collection of data to prepare your SR&ED claim?
  • Do you know what activities are eligible for the SR&ED program?
  • Do you know what your role is in SR&ED?
  • Do you know what inspectors expect?
  • Do you know if a technical resource can automatically be claim in SR&ED?

If you don’t have the answer to all of those questions, you risk losing your full potential for tax credits.

This event will be held on Wednesday, February 28th 2018, from 9 am to noon at Emergex’s head office.

Please note that this event is reserved for our clients and will be held in French. To reserve a spot, contact Isabelle at 514-765-3333 #472.

Because places are limited, reservations are taken on a first-come, first-served basis.

Pierre Savignac

AQT Lunch & Learn: I survived the audit of my SR&ED claim by the CRA!

This lunch and learn workshop will focus on the evolution of the government’s Scientific Research and Experimental Development (SR&ED) program with expert advice from Emergex SR&ED Subsidies targeted at preventing audits and defending SR&ED tax credits in the event of one.

Emergex SR&ED Subsidies is a consulting firm in R&D tax credit claims particularly specialized in the software and IT services industries.

Target Issues

  • SRED audits are more frequent, more challenging and more expensive than ever before
  • Contemporaneous documentation has become an unavoidable requirement
  • Compliance costs in proportion to the amounts claimed are growing fast
  • Following a refusal, companies have filed 25 times more notices of objection challenging CRA decisions, compared to 2007

Against this backdrop, how to prevent or (if it is too late) prepare and succeed in defending your SR & ED claim in the event of an examination by the Canada Revenue Agency (CRA) ?

Advice Offered

  • How to document and structure your SR-ED projects indirectly from your client projects
  • … while meeting the 5 eligibility questions in Revenue Canada’s assessment process
  • How to present and simulate your projects before an inspection so that it complies with the decision-making process of the CRA auditors
  • How to survive the increased scrutiny of time sheets, job profiles, subcontractors, etc., by Revenue Quebec
  • Presentation of real-life cases in IT proving that it is possible to prevent, or else survive, an audit of your SR&ED

Guest Speakers’ Biography

Pierre Savignac, CEO and Founder

Pierre Savignac, CEO and Founder

  • CEO of Emergex SR&ED Subsidies that he founded in 1994
  • Emergex has been recognized as one of Canada’s fastest-growing companies in the 24th edition of the Profit 200 ranking
  • B.Sc. in Computer Science from Université de Montréal
  • 30 years of professional experience with: Videotron (high-speed Internet launch), Virtual Prototypes (acquired by CAE), MediaSoft Telecom (now integrated in Bell), Alis Technologies (bought by OpenText) and his own enterprises
  • Certified Project Management Professional (PMP) by the world-renowned authority PMI
  • Member of the Fiscal and Financial Planning Association (APFF)

Read more

Jean-François Djoufak,  SR&ED Technological Advisor

Jean-François Djoufak, SR&ED Technological Advisor

  • Ph.D. degree in Computer Science from Université du Québec à Montréal (UQAM)
  • 15+ years of experience in the information technology industry
  • 6+ years of experience in SR&ED technical writing
  • Former founder of a software company
  • Popularized science and technology as a professor and public speaker
  • Published 5 articles about Artificial Intelligence (AI) in international scientific journals

Registration

AQT members only

Cost: 35 $ + tax

Registration on AQT’s website

Pierre Savignac

AQT Lunch & Learn: I survived the inspection of my SR&ED tax credits by Revenue Canada!

This lunch and learn workshop will focus on the evolution of the government’s Scientific Research and Experimental Development (SR&ED) program with expert advice from Emergex SR&ED Subsidies targeted at preventing audits and defending SR&ED tax credits in the event of one.

Emergex SR&ED Subsidies is a consulting firm in R&D tax credit claims particularly specialized in the software and IT services industries.

Target Issues

  • SRED audits are more frequent, more challenging and more expensive than ever before
  • Contemporaneous documentation has become an unavoidable requirement
  • Compliance costs in proportion to the amounts claimed are growing fast
  • Following a refusal, companies have filed 25 times more notices of objection challenging CRA decisions, compared to 2007

Against this backdrop, how to prevent or (if it is too late) prepare and succeed in defending your SR & ED claim in the event of an examination by the Canada Revenue Agency (CRA) ?

Advice Offered

  • How to document and structure your SR-ED projects indirectly from your client projects
  • … while meeting the 5 eligibility questions in Revenue Canada’s assessment process
  • How to present and simulate your projects before an inspection so that it complies with the decision-making process of the CRA auditors
  • How to survive the increased scrutiny of time sheets, job profiles, subcontractors, etc., by Revenue Quebec
  • Presentation of real-life cases in IT proving that it is possible to prevent, or else survive, an audit of your SR&ED

Guest Speakers’ Biography

Pierre Savignac, CEO and Founder

Pierre Savignac, CEO and Founder

  • CEO of Emergex SR&ED Subsidies that he founded in 1994
  • Emergex has been recognized as one of Canada’s fastest-growing companies in the 24th edition of the Profit 200 ranking
  • B.Sc. in Computer Science from Université de Montréal
  • 30 years of professional experience with: Videotron (high-speed Internet launch), Virtual Prototypes (acquired by CAE), MediaSoft Telecom (now integrated in Bell), Alis Technologies (bought by OpenText) and his own enterprises
  • Certified Project Management Professional (PMP) by the world-renowned authority PMI
  • Member of the Fiscal and Financial Planning Association (APFF)

Read more

Jean-François Djoufak,  SR&ED Technological Advisor

Jean-François Djoufak, SR&ED Technological Advisor

  • Ph.D. degree in Computer Science from Université du Québec à Montréal (UQAM)
  • 15+ years of experience in the information technology industry
  • 6+ years of experience in SR&ED technical writing
  • Former founder of a software company
  • Popularized science and technology as a professor and public speaker
  • Published 5 articles about Artificial Intelligence (AI) in international scientific journals

Registration

AQT members only

Cost: 35 $ + tax

Registration on AQT’s website

Workshop-conference: How to prevent, or else survive, an audit of your SR&ED by Revenue Canada

Pierre Savignac
Jean-François Djoufak, Ph. D.

Professional development workshop on the SR&ED program with expert advice on defending your R&D your tax credits in the event of an audit.

Come and find out how to prevent or (if it is too late) to prepare and survive a CRA audit of your SR&ED.

The speakers, Jean-François Djoufak, Ph. D. in Computer Science and SR&ED expert, along with Pierre Savignac, PMP and CEO of Emergex, will answer your questions:

  • How do you document and structure your SR&ED projects indirectly from your client projects
  • … while answering the 5 eligibility questions in Revenue Canada’s assessment process?
  • How do you present and simulate your projects for an audit in a way that satisfies the decision-making process of the inspectors?
  • How to survive increased scrutiny of time sheets, job profiles, subcontractors, etc., by Revenue Quebec?
  • What is the impact of recent rate cuts and the new $50,000 expense minimum in Quebec?
  • Can you survive an audit of your SR&ED? Yes, you can! Using real-life cases, we will show you that it is possible indeed!

Emergex SR&ED Subsidies is the R&D tax credit consulting firm most specialized in information technology.

Schedule

9:30 Welcome and breakfast (pastries, fruits and coffee)
10:00 Workshop-conference
11:30 Question period
12:00 End of activity

Registration

Only for Emergex clients that have filed at least two SR&ED claims.

Cost: $10, taxes included. Free when registering to our newsletter.

For information or registration (before October 27th): info@emergex.com or 514-765-3333 #0

Hurry up, places are limited !

 

Seminar on the technological aspects of the SR&ED program – Toronto

  • Can you claim hours spent for project management, for training or for writing documentation as eligible SR&ED expenses?
  • Do you know how to define the start of a SR&ED project?
  • Must you absolutely use a timesheet system to claim SR&ED?
  • Can you claim work done by a subcontractor?
  • What tools can you use to simplify the collection of data to prepare your SR&ED claim?
  • Do you know what activities are eligible for the SR&ED program?
  • Do you know what your role is in SR&ED?
  • Do you know what inspectors expect?
  • Do you know if a technical resource can automatically be claim in SR&ED?

If you don’t have the answer to all of those questions, you risk losing your full potential for tax credits.

This event will be held on Tuesday, July 5th 2016, from 9 am to noon at Emergex’s office in Oakville.

To reserve a spot, contact Lysanne at 905-849-3033 #590.

Because places are limited, reservations are taken on a first-come, first-served basis.

Testimonials

Louis Côté, Hint innovation

Louis Côté, Hint innovation

Allow me to tip my hat to Emergex for the tour de force that represents the technological description of our SR&ED projects, which I find of outstanding quality.