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Financing & Cash flow are the biggest issues facing business today
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EMAIL - INFO@7parkavenuefinancial.com
7 Park Avenue Financial
South Sheridan Executive Centre
2910 South Sheridan Way
Suite 301
Oakville, Ontario
L6J 7J8
Direct Line = 416 319 5769
Office = 905 829 2653
Email = sprokop@7parkavenuefinancial.com
Sred tax credit financing in Canada (SR&ED), we maintain, comes with a ' no grain of salt required ' statement attached to it. Most business owners/financial managers would agree that a lot of advice/information/sales pitches they received must, in fact, be taken with ' a grain of salt ‘! Yet the thousands of firms that take advantage of SR ED loans in Canada have proved that cash flowing their refundable tax credits in Canada's ' SR&ED ) program becomes the final benefit of participating in the program - receiving your cash refund earlier! Let's dig in.
The general nature of Canada's R&D refund program allows companies in any industry to participate. (However, they must be privately owned, not ' public' firms). The incentive to recover your cash after the whole SRED process appeals to thousands of firms who receive billions of dollars in refundable tax credits (aka ' cash ‘! ) based on an ever more simplified application process.
‘Processes’ and ' Products ' are the heart of most of the r&d under the program. SR&ED consultants are the most commonly used third parties who document the costs and activity of your R&D process. They augment the role of your accountant, who typically files the claim with your year-end tax return - At that point, you're ' crystallizing ' your SRED receivable.
While companies choose different accounting treatments to document their SR&ED claim in their financials (‘govt receivable ‘refundable investment tax credit' etc.), the commonality is that you're now in a line up in the whole SR ED process—Vis a vis receiving funds.
SRED tax credit financing helps immediately monetize your recovery of wages/materials/ contractor costs etc., that are a part of your whole research and development process. We meet clients who have claims ranging from 50k to 1 Million dollars or more. In some cases, the cash monetized via your SR ED bridge loan is a critical part of the firm's annual cash plan needs. Since most SR&ED claims in Canada are prepared by third parties who work on contingency, the financing of tax credit loans makes even more sense - no cash outlay to prepare your claim and no monthly payment for the duration of your waiting period for your refund. (These loans have no monthly payment - they are short term ' bridge ‘finance’)
Business owners/financial managers we talk to are focused on accelerating their claim - that includes the use of a good/experienced SRED preparer, timely filing of their claim, and the choice to finance your credit refund if your firm needs cash.
If you're looking to finance your refundable tax credit and eliminate ' waiting ' for your refund, seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with discounting your claim for cash .. today.
Stan Prokop
