“CPA firms have to stay competitive with their service offerings… that’s why they partner with Romo Incentives Group.”

The age-old adage in business is: “if you’re not growing, you’re dying.” Now, that may sound a little harsh, but the underlying message is true. If you’re not constantly improving your business, developing more “moats” to protect your company from competitors or new industry innovations, then it’s only a matter of time until your company gets phased out. Now, you might think I’m alluding to why companies who are innovating should claim the R&D Tax Credit, which is definitely a wise thing to do, but actually I’m alluding to CPA firms.

It’s been common knowledge for a while now, that if a CPA isn’t constantly improving its service offerings and staying up-to-date on tax code changes and new incentives available to their clients, then they we likely begin to loose clientele to other CPA firms who are offering a service or benefit that they are not.

Now, it’s obvious that the best service offerings to clients are those which reduce their tax liabilities. We are talking about depreciation schedules, tax loss harvesting, cost segregation, and yes, the crème-de-la-crème… tax credits.

Given that tax credits are a dollar-for-dollar reduction in your clients’ tax liabilities, if one of your clients qualifies for these credits why wouldn’t you claim these credits for your client? Well, it may surprise you that there are actually a couple reasons why someone wouldn’t want to claim a tax credit and specifically the R&D Tax Credit.

The first reason is typically both parties are concerned about triggering an audit, which is warranted. The R&D Tax Credit used to be a “tier one issue” with the IRS, which meant claiming the credit would almost guarantee an audit; however, as of 2012, that is no longer the case, as it has been removed from its tier one status. Secondly, CPAs and their clients are usually concerned as to how much time the credit process will take. Fortunately, we, that is Romo Incentives Group, have a streamlined method of procuring the necessary data, determining qualifying activities, and developing the necessary supporting documentation that is required from the IRS. Our process consists of a kick-off meeting, and subsequent one-on-one interviews that take an hour or two at most. Combine this with the fact that we primarily charge on a contingent fee basis, we include full audit defense of our credits, and we have a 98% post-audit retention rate of said credits, and you’re left with the feeling that at the very least you should give us a call for a quick conversation.

Long story short, I’m trying to make it as clear as possible that partnering with Romo Incentives Group to provide tax credit solutions to your clients is a “no-brainer”. All of the benefits of tax incentives are brought to your CPA firm and subsequently your clients, without you having to invest time that you may not have.

We look forward to hearing from you.


Graham Honig