{"id":9041,"date":"2022-05-23T14:29:46","date_gmt":"2022-05-23T14:29:46","guid":{"rendered":"https:\/\/leyton.com\/us\/?post_type=news&p=9041"},"modified":"2024-09-18T11:25:38","modified_gmt":"2024-09-18T11:25:38","slug":"rev-by-leyton-accelerates-rd-and-erc-tax-credits-for-startups-and-smbs","status":"publish","type":"news","link":"https:\/\/leyton.com\/us\/news\/rev-by-leyton-accelerates-rd-and-erc-tax-credits-for-startups-and-smbs\/","title":{"rendered":"REV by Leyton Accelerates R&D and ERC Tax Credits for Startups and SMBs"},"content":{"rendered":"\n

Built on 20 years of experience, innovative digital platform allows businesses to maximize tax credits quickly, seamlessly and accurately<\/em> <\/h2>\n\n\n\n

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BOSTON \u2013 May 18, 2022 <\/strong>\u2013 Global consultancy, Leyton<\/a>, today launches its new innovative digital platform, REV<\/em> by Leyton<\/a>. 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<\/em>, businesses save weeks of tax preparation work and reap more returns, further powering innovation, profits, and growth across all industries. <\/p>\n\n\n\n

Annually, billions of dollars allocated to R&D-related tax credits are left unclaimed, and the many businesses who received the nearly $700 million<\/a> 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. <\/p>\n\n\n\n

\u201cThe 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,\u201d said Tom McDanell, Senior Vice President of REV. \u201cBy leveraging our new digital technology and our experts on tax law in any number of fields, such as robotics, law, hospitality and healthcare, REV<\/em> 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.\u201d <\/p>\n\n\n\n

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.<\/p>\n\n\n

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With REV, startups and SMBs have access to: <\/h2>\n