Strategic alliance helps middle market companies boost after-tax returns on
R&D investments
MINNEAPOLIS, March 18 /PRNewswire/ -- In a joint effort to help more
companies increase their after-tax return on their R&D investment and to
provide enhanced R&D tax services to companies, RSM McGladrey, Inc.
(http://www.rsmmcgladrey.com/), and Axiom Solutions, LLLP
(http://www.axiomsolutions.com/), two of the nation's leading business
service providers for middle market companies, have announced an agreement
to work together to provide Research & Development Tax Credit services to
companies in the upper end of the middle market.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080305/AQW023LOGO)
The R&D Tax Credit program, an economic investment incentive, has been
in place since 1981 and recognizes investment that leads to the development
of new, more efficient products and technological services. The R&D credit
has become increasingly attractive to a broad range of businesses,
primarily in the manufacturing, technology and engineering industries. The
credit applies not only to product development efforts, but also to
manufacturing process improvements and certain types of software
development.
In 2007, in an effort to close the tax gap, the IRS increased the
scrutiny of Large and Medium Sized Businesses (LMSB) R&D Tax claims,
declaring the claims as a Tier 1 Issue. As a result, RSM McGladrey and
Axiom Solutions have each strengthened their offerings to an even higher
level of precision and focus in documenting and substantiating the IRS
areas of interest.
"This is a very attractive strategic alliance for RSM McGladrey.
Working together with Axiom will create additional critical mass and
synergy from two forward-thinking R&D practices. Together we can offer high
quality R&D Tax Credit services to a broader base of clients," said Tom
Windram, national R&D tax practice leader for RSM McGladrey. "We are proud
to work with Axiom, which has developed an excellent R&D Tax Credit
practice very similar in philosophy to our own."
The RSM McGladrey R&D team is composed of more than 60 R&D professional
specialists, including accountants, tax attorneys, consultants and former
IRS specialists with significant experience preparing R&D claims and
supporting documentation. Axiom's R&D business is comprised of more than 45
accountants, engineers and tax attorneys from a variety of industries.
"This is a major step for the two companies," said Larry Nealy, Partner
with Axiom Solutions. "Axiom has spent years developing one of the most
advanced process methods in the market leveraging focused engineering and
tax based study teams with proprietary software technologies. RSM McGladrey
has an excellent R&D team as well. Combined, we have an R&D practice that
is bigger and deeper than any other firm focused on serving middle market
companies."
This cooperative agreement allows RSM McGladrey and Axiom to work
together on targeted marketing efforts and perform joint consulting
engagements under primary/subcontractor arrangements.
About RSM McGladrey
RSM McGladrey is a leading professional services firm providing
accounting, tax and business consulting. RSM McGladrey operates in an
alternative practice structure with McGladrey & Pullen LLP, a partner-owned
CPA firm that delivers audit and attest services. Through separate and
independent legal entities, they work together to serve clients' business
needs. Together, the companies rank as the fifth largest U.S. provider of
accounting, tax and business consulting services (source: Accounting
Today), with 8,000 professionals and associates in nearly 100 offices. RSM
McGladrey Inc. and McGladrey & Pullen LLP are member firms of RSM
International, an affiliation of independent accounting and consulting
firms. RSM McGladrey is the official accounting, tax and business
consulting firm of The PGA of America.
About Axiom Solutions
Axiom Solutions is one of the nation's leading professional services
firms specializing in R&D Tax Credits for medium-sized companies.
Headquartered in Denver, Colo., and with offices in 12 other cities
nationwide, Axiom provides its R&D Tax Credit expertise to CPA firms and
their clients as a value-added service. To date, Axiom has completed
hundreds of engagements in more than 50 industry sectors.
SOURCE RSM McGladrey, Inc.
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Related links:
http://www.rsmmcgladrey.com
http://www.axiomsolutions.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20080305/AQW023LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Betsy Weinberger of RSM McGladrey,
+1-980-233-4711, cell, +1-980-939-5426,
betsy.weinberger@rsmi.com; or Nick Kromenacker of Axiom
Solutions, cell, +1-303-746-5575, nickk@axiomsolutions.com; or
Misty Zelent of Fleishman-Hillard, +1-919-457-0742, cell,
+1-512-799-0180, misty.zelent@fleishman.com, for RSM McGladrey
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