Neo.Tax utilizes artificial intelligence to automate the R&D tax credit process by integrating with platforms like GitHub and Jira, eliminating the need for interviews. This technology generates audit-ready documentation that enhances credit substantiation and streamlines software capitalization, maximizing financial benefits for engineering teams.
Funding
$13M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many companies find the process of claiming R&D tax credits to be cumbersome, requiring extensive interviews and manual data collection. This process is not only time-consuming for engineering teams but also prone to errors and can lead to missed opportunities for maximizing potential credits. Traditional methods often lack the contemporaneous documentation that the IRS prefers, increasing the risk of audit scrutiny.
Solution
Neo.Tax provides an AI-powered platform that automates the R&D tax credit process and software capitalization by directly integrating with engineering tools such as GitHub, Jira, payroll systems, and general ledgers. The platform eliminates the need for time-consuming interviews by ingesting data directly from these sources to generate audit-ready documentation. By leveraging AI, Neo.Tax ensures that companies can substantiate their claims with contemporaneous data, aligning with IRS standards and reducing audit risk. The system streamlines the process of identifying eligible R&D activities and calculating the associated tax credits, while also facilitating software capitalization in accordance with ASC350-40.
Target Audience
Neo.Tax is designed for tax and accounting teams, as well as engineering teams, seeking to streamline the R&D tax credit process and software capitalization while ensuring compliance and maximizing financial benefits.
Features
- AI-driven automation of R&D tax credit and software capitalization processes
- Direct integration with GitHub, Jira, payroll systems, and GL for data ingestion
- Generation of audit-ready documentation that meets IRS standards
- Elimination of manual data collection and interviews with engineering teams
- Real-time capitalization of development costs
- Transparent and traceable outputs, providing a clear audit trail
- Secure data handling with dedicated cloud infrastructure and world-class security measures