January 25, 2024
Contact: Betsy Weissman – bweissman@hubsync.com
HubSync Revolutionizes the R&D Tax Credit Process for CPA Firms
Alexandria, VA - January 25th, 2024 - HubSync, a leading CPA firm technology platform, today announced an innovative new Research and Development (R&D) Tax Credit product to streamline the complex process of collecting, organizing, and submitting R&D tax credit data supporting taxpayer claims sent to the IRS for processing.
By consolidating and automating cumbersome manual processes, the R&D Tax Credit product reduces the time and resources required to compile supporting data and documentation for these claims.
HubSync developed this new platform in close collaboration with Plante Moran, one of the nation's largest audit, tax, consulting, and wealth management firms and a leader in the R&D Tax Credit market. Having firsthand experience with the challenges clients face when gathering tax credit documentation, Plante Moran identified the need for this type of end-to-end automation tool and understands the efficiencies and streamlined experience it offers clients.
“We are thrilled to expand the HubSync end-to-end Platform to now include a paradigm shifting CPA Firm and client experience for R&D Tax Credits” said John McGowan, Founder and CEO of HubSync. “Including R&D Tax Credits was a natural extension for us, integrating centralized data and client management, the ability to collaborate real time and submit R&D tax claims from one central location. This significantly reduces processing times and increases visibility. Collaborating closely with Plante Moran during this process was a tremendous experience and we are excited to see the benefits for both them and their clients for this unique industry platform.”
“The R&D tax credit provides significant tax savings for organizations that have made investments to develop or improve a product or process,” explained Amy Forester, partner and leader of Plante Moran’s Tax Solutions Group. “While the tax credit can be lucrative, the challenge for CPA firms and their clients is the collection of documentation, such as notes, test results, time tracking data, cost data, etc. Historically, this meant reaching out to dozens of employees across an organization to track down data. Now, with HubSync’s new tax credit tool, clients and their staff will be directed to one location where they’ll be prompted to upload documents and answer key questions. Our team at Plante Moran can then work within that same tool to quantify the expenses and assemble and deliver the R&D tax credit study. It’s a game changer and offers clients a more seamless process to achieve tax savings.”
Built to leverage HubSync’s end-to-end integrated platform, the key features of the R&D Tax Credit product include:
R&D Tax Credit Calculations are included in the product roadmap and expected to be delivered in the second half of 2024.
The platform is now fully live and in production and is available to other firms in the industry.
To contact HubSync about this revolutionary new platform, please contact Betsy Weissman, bweissman@hubsync.com or visit us at www.hubsync.com .
To contact Plante Moran about maximizing the value of your R&D Tax Credits, contact julie.peters@plantemoran.com or visit plantemoran.com.
About HubSync:
Led by Founder and CEO John McGowan and based in Alexandra, VA, HubSync is a cutting-edge tax & accounting technology platform founded by a team of veteran professionals who are passionate about modernizing accounting technology. Frustrated with the limitations of traditional tax & accounting preparation systems, the HubSync team has reimagined the experience from the "outside in" for clients and the "inside out" to dramatically improve CPA productivity. For more information, visit hubsync.com
About Plante Moran:
Plante Moran is among the nation's largest audit, tax, consulting, and wealth management firms and provides a full line of services to organizations in the following industries: manufacturing and distribution, financial services, service, healthcare, private equity, public sector, real estate, construction, and energy. Throughout the firm’s 100 years in business, Plante Moran has grown to a staff of more than 3,800 professionals throughout the United States with international offices in Shanghai, China; Mumbai, India; Tokyo, Japan; and Monterrey, Mexico. Plante Moran has been recognized by a number of organizations, including Fortune magazine, as one of the country's best places to work. For more information, visit plantemoran.com.
