Overview: R&D Tax Credits for Clients w/ Adam Farnsworth
Do you know the 4-part questions to use to determine if someone qualifies for the R&D tax credit?
This conversation with Adam and Roger is going to be enlightening both personally and professionally. I’m sure you’ll get some great notes from this.
Also, how many of this have said to our spouse “Heh Hon, I’m going to start a business, “trust me I have a plan”, there’s this opportunity and I know what I’m doing?
As accounting professionals, it makes sense we’d create the business plan & proforma. But what happens when things don’t go as planned? Are you ready to pivot and following the numbers? Marketing can change so we need to be ready and willing to go where the clients are.
Adam shares some great ideas and shares some good examples.
Enjoy this next episode of this podcast, building the premier accounting firm!
About Our Guest: Adam Farnsworth
Adam Farnsworth has been working as a CPA since 2015 after he completed his master’s degree at the University of Utah and his undergraduate degree at Colorado State University. As the founder of Leaf Specialty Tax Consultants, he has built a team that saves companies millions of dollars annually by identifying tax credit savings.
Leaf Specialty Tax Consultants was born after founder Adam Farnsworth saw a need for businesses to have a better way to access and claim Research and Development (R&D) Tax Credits. Across the United States, companies are using innovation, technology, and research to make the world a better place. By creating a consulting business for R&D Tax Credit, LEAF wants to provide a way for businesses to have the advantage of a tax credit expert to provide computation and substantiation guidance surrounding Section 41 of the Internal Revenue Code (IRC) and affiliated code sections, court cases, regulations, and affiliated state tax credits.
- Helping accounting professionals confidently and competently offer quality accounting services to get paid what they are worth.
Speak with Adam regarding the possibilities related to R&D tax credits. You can reach him directly or schedule a time that is convenient for you at:
Book recommendation mentioned in the discussion, A legal guide to research and development by Alex Sadler.
Off quality tax services becoming a certified Professional Tax Preparer, PTP
As you work ON your business consider applying the proven principles from The Turnkey Business Plan for a successful accounting, bookkeeping & tax business. Creating your proforma.
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