Clarus R+D's tax credit software makes it quick and easy for you to obtain your maximum R&D tax credit. Qualified small businesses may be eligible to claim a federal tax credit for costs related to their research and development activities, up to $250,000 per fiscal year.
Gusto integrates with Clarus R+D to help streamline company qualification for their eligible R&D tax credits by syncing employee wage data.
Customers who join Gusto from Clarus will receive Gusto free for their first 3 months.
Connect your accounts to automatically sync the data required to calculate your R&D credit:
Once connected, you should now see Gusto listed under the “integration” column of the “Payroll Integrations” section. Here, you can also view the company name and timestamp(s) for the last import.
You can import data as many times as you’d like, there’s no harm in doing so.
Adding and matching employees
If someone has not been imported, you can click add new employee to add someone manually in the Payroll section.
In the event you’ve added someone manually, and the employee has also been imported from Gusto, if the names match exactly, the system will recognize the duplicate and tie the records together.
In all other cases, the manually entered employee and the imported employee (with different spellings) will both remain in the study. If this is not supposed to be the case, use the trash can icon to delete the incorrect/duplicate record–you do not want to overreport wages in the study.
An accountant firm is required on your account in order to set you up to claim the R&D tax credit in Gusto.
Claim the Federal R&D Tax Credit in real time
Once the accountant firm has set you up to claim the Federal R&D Tax Credit, you can claim the credit against your employer Social Security taxes in real time. Important: This setting only appears in your account if there's a remaining balance to apply credit to. It also depends on when your accountant filed your most recent business income tax return, because you're eligible to claim the credit on the first day of the following quarter. Example: if your return was filed in May, then the credit period begins July 1st (the first day of the next quarter) and runs through June 30th of the next year.
This means Gusto will not withhold/debit the "employer" portion of Social Security tax on your employee's payroll if real time is enabled.
You will see the R&D Tax Credit savings on the next payroll you process.
Reach out to Clarus R+D.