Leyton Develops New Technology to Identify Businesses Eligible...
Leyton announced the launch of a new AI-powered algorithm that identifies thousands of businesses...
BOSTON – May 18, 2022 – Global consultancy, Leyton, today launches its new innovative digital platform, REV by Leyton. Designed specifically to help startups and small businesses capture lucrative and underused tax breaks, initially targeting Research and Development (R&D) and Employee Retention Credits (ERC), the digitalized platform combines efficient and effective technology with over 20 years of global experience in tax and business consulting. With REV, businesses save weeks of tax preparation work and reap more returns, further powering innovation, profits, and growth across all industries.
Annually, billions of dollars allocated to R&D-related tax credits are left unclaimed, and the many businesses who received the nearly $700 million of payments through the Paycheck Protection Program are leaving eligible funds through Employee Retention Credits on the table. For the R&D Payroll Credit, the maximum benefit eligible companies may receive is $250,000. For ERC, employers can claim up to $5,000 per employee for all of 2020 and up to $7,000 per employee per eligible quarter in 2021, equating to a maximum of $26,000 per employee.
“The IRS instituted tighter controls, new legislation and more paperwork to substantiate R&D and ERC tax claims, making it increasingly difficult for startups and SMBs to take advantage of the program,” said Tom McDanell, Senior Vice President of REV. “By leveraging our new digital technology and our experts on tax law in any number of fields, such as robotics, law, hospitality and healthcare, REV helps businesses at pivotal points in their development remain competitive and achieve their goals. Our mission is to maximize claims with a seamless, quick process, the unsurpassed expertise of in-house industry professionals, and a concrete audit defense.”
The R&D Payroll Tax Credit is a federal benefit providing businesses with cash savings for all activities relating to product development and improvement. The ERC supports qualifying businesses who retained employees while experiencing significant pandemic-related declines in gross receipts.
Leyton’s tax experts promise to produce the highest quality documentation and credit claim reports for all clients. With scrupulous detail to ensure all legal requirements for a credit are sound, businesses rest easy knowing the claim will be processed efficiently and timely.
To learn more about REV and Leyton’s other offerings, visit rev.orion-testing.leyton.com.
Leyton is one of the world’s largest innovation funding business consultancies on government funding initiatives. Through its rewarding innovation, the company provides tailor-made solutions to help organizations optimize annual budgets of all sizes. For more information, please visit Leyton.com.
Cody Dean
Matter for Leyton
leyton@matternow.com
(971) 998-6423
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