Rix® Technology Announces June 2010 Webinar Schedule

June 4, 2010 - PRLog -- Seattle, Washington USA – RIX® Technology, LLC announces two webinars (online seminars) scheduled for June 2010 (June 9, 2010 and June 23, 2010) demonstrating their new RIX® (Resource Information Xchange) online technology for tracking and documenting research and development activity, specifically for procuring Federal and State Research Tax Credits.

Both webinars will begin at 10 am PST, and will include a 30 minute presentation followed by a question and answer period. RIX® experts will demonstrate the online system and discuss the exclusive RIX® online process for capturing R&D activity contemporaneously, and their unique preliminary audit methodology for insuring all QREs are recorded and properly supported with complete documentation.

The webinars are an interactive seminar in which participants learn:
   How RIX® is implemented and used to track and record R&D activity,
   The measurable benefits of this new technology,
   Why the IRS approved RIX® in a formal Research Credit Record Keeping Agreement,
   How RIX® Technology changes the way companies capture and manage such records
   How RIX® simplifies the IRS review process,
   How RIX® reduces cost by up to  50%, expands your research tax credit, and increases the retained credit on review.

At the end of the presentation there is a Question and Answer period with RIX® Technology, LLC, founder and CEO, Rick Humphrey. All participants have time to ask questions specifically relating to their research credits, how the regulations affect them, how RIX® will specifically benefit their company, and the latest developments in the Research Tax Credit code.

The Webinar is designed for public and privately held companies who have applied for Research Tax Credits in the past, and for those who have never applied for Research Tax Credits. Interested parties should include principals of privately held companies, V.P. of Tax or Finance, CFO, Tax Director, R&D Director, Production Manager or other management personnel seeking to keep up-to-date on the newest technology for documenting Research Tax Credits, or wishing to discuss real-world questions about Federal and State Research Tax Credits specific to your company. Relevant industries include all companies engaged in the improvement of product or production processes, with activity (development or production) in the USA.

The webinar is free to approved participants. A schedule of RIX® webinars and registration information can be found online at http://rixtechnology.com/webinars/index.asp, or by visiting www.rixtechnology.com and clicking on “View Schedule” under the RIX® Technology Webinar heading.

WHAT IS RIX®?

RIX® combines new online software technology with an IRS approved methodology for documenting, reviewing, and verifying R&D documentation, in real-time. It allows companies to abandon the traditional costly and disruptive, year-end interview and reconstruction process that has been done since 1981, and replaces it with a real-time recording process that usually takes only fifteen minutes per month per reporter.

RIX® allows an unlimited number of divisions, groups, or individuals, to upload reports and documents monthly, at the time they are performing their work. RIX® also provides an immediate review process to ensure all reports are complete, including required documentation.

By replacing the traditional year-end interview and document reconstruction process with its monthly reporting methodology, RIX® ensures that at year-end, all reporting and documentation is complete and accurate. As a result, RIX® lowers the cost of documenting R&D activities, reduces the disruption to the production process, increases the amount of tax credit applied for, and increases the amount of tax credit retained after IRS review.

SIGNIFICANCE

As companies emerge from the current recession they need to capture every economic and competitive advantage possible. Recognizing the critical part that Research and Development plays in keeping American industry competitive, our Federal Government expects to continue Federal Internal Revenue Code §41, the Research Tax Credit. President Obama has called for a permanent extension of the Credit in his FY 2010 Budget, and recently stated,
“My budget finally makes the research and experimentation tax credit permanent. This is a tax credit that helps companies afford the often high costs of developing new ideas, new technologies, new products -- which means new jobs.  And this tax incentive returns two dollars to the economy for every one dollar we spend.  Time and again, I’ve heard from leaders -- from Silicon Valley to the Tech Valley -- about how important it is.”  

A new online technology, like RIX®, will increase accuracy and reduce overall resources required by industry, professional services, and the IRS. Using RIX® Technology companies will receive more in both Federal and State Research Tax Credits, resulting in additional stimulus to the US economy.

According to RIX® Technology CEO, Rick Humphrey,
“Since 1981 companies have compiled R&D records the old fashioned way, by doing year-end interviews and reconstructing documentation in retrospect. It’s inefficient, inaccurate, and very costly. That was understandable in the 1980s without a technology to make it easier. Today, RIX®  brings enabling technology to all participants in the R&D process, and helps them  compile supporting documents in real-time. Compared to traditional “after the fact” documentation methods and their typical IRS audit results, implementing RIX® online technology lowers costs, reduces interference with productivity, and increases net Research Tax Credit benefits by twenty-five percent or more. That’s significant, considering this is a dollar-for-dollar credit against taxes owed that goes directly to the bottom line.”

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RIX® provides an exciting new online documentation service for taxpayers seeking federal and state R&D tax credits under Federal IRC §41. RIX® is a web-based technology and tax consultancy that simplies the process of obtaining Research Tax Credits.