We Help Our Clients Use Tax Credits & Strategies to Build Profitable Practices.
TaxRx combines the experience of practicing clinicians with the expertise of tax attorneys and accountants to simplify and expand your options.
The Only All-in-One Tax Credit Solution
Your TaxRx is the key to your tax savings.
If overpaying taxes is the chief complaint, it’s important to start by identifying issues and opportunities. Every TaxRx client starts with a diagnosis. We evaluate your business for key-focused federal strategies as well as state-specific benefits.
After we identify your tax-saving opportunities, we move to treatment and our team of specialists does the heavy lifting – preparing detailed documents and working directly with your accounting team so that you can focus on your business.
f.a.q.
You have questions. wE have answers.
You might say that we focus on unleashing unparalleled expertise to navigate complex tax landscapes, delivering tailored strategies that drive financial growth and propel healthcare businesses forward. Our motto: “No credit left behind!“
The R&D tax credit is a $22B government tax incentive to reward U.S. businesses for their investments in innovation and technology advancements. Confusion and complexity surround the R&D tax credit, resulting in millions in unclaimed credits. Don’t let that stop your company from qualifying. TaxRx’s experts will quickly evaluate your tax credit opportunity.
Companies developing new or improved products, software, apps, processes, techniques, formulas, or inventions can qualify. This can include new functionality, as well as quality, reliability and performance enhancements.
Dollar For Dollar
The R&D tax credit reduces federal, state, income, and payroll tax liabilities. Meaning, if you owe $70K to the IRS and your federal credit is $70K, you will owe $0.
Federal & State
The Federal R&D tax credit is a permanent tax credit, thanks to the PATH Act passed in 2015. There are 36 states who currently have their own state-level version of the R&D tax credit. It’s important to note, a business can qualify for both the federal credit and their respective state credit.
Generate Cash Refunds
The IRS issues cash refunds to businesses and their owners (pass-through entities) that engaged in R&D but did not claim the credit on a timely filed return. Businesses can retroactively amend their tax returns for the past three or more years, resulting in substantial cash refunds.
Apply to Payroll Tax
Start-ups may be eligible to apply the R&D tax credit against their payroll taxes for up to five years. Recent legislation has increased the allowable amount for start-ups to offset payroll taxes from $250,000 to a maximum of $500,000 per year.
Also known as the “ERC” or “ERTC”, the Employee Retention Tax Credit provides businesses impacted by COVID-19 with a cash payment from the IRS of up to $26,000 per employee.
$26,000 Per Employee
Businesses that meet the requirements and are eligible for both 2020 and 2021 could be looking at up to $26,000 per employee in employee retention tax credits. While most won’t qualify for the full amount, that shouldn’t stop you from receiving the credits you are owed.
What if I Claimed PPP?
You can still qualify for the ERC, despite claiming PPP.
The amount of any PPP loans forgiven are simply backed out of the wage calculation. Strike experts ensure all of your calculations include any PPP forgiveness.
Do I Qualify?
If you own a small business and experienced any of the following, you likely qualify: Reduction in revenue or
- Reduction in hours
- Full or partial shutdown
- Supply chain disruptions
There’s Still Time to Claim
There is no limit to how many businesses can claim the credit or how much funds are available. But there is limited time to amend your tax returns and receive the credit.
Increase your practice revenue.
See how easy tax savings can be with TaxRx Group .
Start benefitting from
serious tax savings.
No Out-of-Pocket Costs
No monthly billings or fixed fee contracts. There are never any hidden costs to getting started with TaxRx. If we can’t find a benefit, receive a full refund.
Pay only when we find your tax savings or you receive a refund.
Unlimited Audit Support
We defend our work at no additional cost. While claiming credits does not increase audit risk, we understand that audits can happen and are with you the entire way.
Unlimited audit support with a 100% fee-back guarantee.
Focused firm, expert advice
The TaxRx Group is built around healthcare businesses. We are a team of industry experts who work with your accountant so that you don’t get stuck in the middle.
We focus on specific healthcare tax strategies.
Our clients say it best.
Join 1,000+ clients who are already saving money
Dr. Jeannie Moody
Moody Orthodontics
TaxRx Group helped my practice save money. Their team is receptive, experienced, and professional.
Shane Warburton, CPA
CFO Ortho
I have worked with several Research and Development Credit companies over the years, but the Tax Rx Group has been by far the best. They have a great team of industry experts to help with these complex tax credits. We recommend working with Tax Rx.
John Bender, MD
Miramont Wellness
The TaxRx system resulted in a significant savings. We were able to amend our taxes to receive a larger benefit than expected.
Tax Credit Simplification
We work directly with your accounting team.
TaxRx collaborates seamlessly with your accounting team, streamlining the process for our busy clinician clients and ensuring hassle-free financial optimization.
ROI-focused.
TaxRx is ROI-focused, diligently handling document preparation and investing the time to uncover savings, allowing our clients to focus on their core healthcare responsibilities.
Tax Strategy Library
Learn a little more about some of the tax strategies we often utilize in healthcare business to deliver substantial tax benefits. Each of our clients’ tax scenario is evaluated for federal and state benefits.
R&D Tax Credits
Maximize innovation in healthcare with the R&D tax credit, unlocking substantial savings and fueling future advancements.
ERC
Empower your healthcare business’s growth and stability with the ERC tax credit, enhancing workforce retention and financial resilience.
COST SEGREGATION
Accelerate your healthcare business’s financial success through cost segregation, optimizing tax savings and enhancing cash flow.
ENERGY CREDITS
Boost your healthcare business’s sustainability and profitability with energy credits, supporting eco-friendly practices and reducing costs.
See how TaxRx can help you save money.
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Unlock your healthcare business’s full potential with TaxRx’s expert tax strategies – contact us today for a financial breakthrough!
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390 E. Center St., Ste. A
Provo, UT 84606