What Does Boast Do?
Boast helps businesses claim SR&ED Tax Credits in Canada. Historically, claiming SR&ED credits has been an arduous and difficult process.
Boast brings a complete solution to maximize tax incentive claims and eliminate the difficulty and mystery of traditional offerings. Its AI powered platform connects with your financial system to gather data and categorize eligible projects and expenses to be claimed.
Boast also allows companies to access a portion of their SR&ED refund 12 months early by loaning up to 75% of the expected refund. This allows businesses, and especially pre-revenue businesses to reinvest that money sooner to grow more quickly.
Why We Love Boast
It’s nearly impossible for business owners to tackle SR&ED credit preparation and filing on their own without consulting a specialist. And specialists often take a large percentage of the tax credit as their fee.
The average SR&ED consultant requires between 60 and 80 hours of your team’s time to complete a SR&ED claim. That’s time that your team isn’t building products or moving your business forward.
Boast aims to solve this by combining tech-enabled consultants with its proprietary software to make the SR&ED claim process much more efficient. The system is set up and runs throughout the year so that data is constantly gathered instead of all at once after the year-end.
SR&ED claims requiring as little as 5 hours of the business owner’s time or his staff’s time is a pretty spectacular feat.
Use Cases for Boast
Boast supports businesses through the process of claiming research and development tax credits.
Businesses that can claim Scientific Research and Experimental Development credits typically include:
- Software development companies
- Manufacturing
- Biotechnology
- Oil & Gas and Energy
- Agriculture
The idea is that the business must have a technological uncertainty that they are solving with their service or product.
If you’d like to learn more about whether you may be eligible to claim SR&ED, Boast offers a free consultation call to help figure that out.
Boast Pricing
Similar to most SR&ED consultants, Boast works on a contingency fee basis and charges a percentage of the SR&ED credit received.
They don’t publish their rate and requested that we don’t share it here, but we do know that it is in line with other consultants. You can find out more on their process and pricing by booking a consultation call.
Boast does a great job of making the SR&ED claim process as painless as possible while maximizing the tax credit a business can receive.
Based on their pricing and what they do, we recommend them to our clients and would also use them ourselves if we had any SR&ED eligible costs!