About Firestone
Specialized Tax Experts Helping Businesses Maximize Available Incentives
Introduction
Based in beautiful North Idaho, Firestone specializes in helping companies obtain the maximum available R&D tax credit and improving cash flow for property owners via cost segregation. Firestone believes every project is unique, because every company is unique — the team invests the effort to tailor its approach to the way you run your business. The R&D tax credit and cost segregation studies are complex; Firestone is determined to cut through the technical jargon and show clients the true value available to them.
Rance Hughes, Founder
Nicole Pereyaslov, Operations & Project Manager
Meet the Team
Firestone was founded by Rance Hughes, a Certified Public Accountant who has focused on claiming and supporting R&D tax credits and other tax incentives since 2013. He earned his Bachelor of Science in Accounting from Lewis-Clark State College and worked at large public accounting firms before founding Firestone. He has delivered over $100 million in tax credits to his clients, and has successfully retained numerous tax credits scrutinized by the IRS and state tax authorities.
Nicole Pereyaslov joined Firestone in 2022 as Operations and Project Manager. She graduated from Eastern Washington University in 2017 with a Bachelor of Arts in Public Accounting and began her career in R&D tax incentives, previously working at CliftonLarsonAllen, Eide Bailly, and a small consulting firm. She has experience across manufacturing, steel fabrication, engineering, robotics/automation, health, food, and software, and leads project management, process improvement, and client and CPA communication at Firestone.
Our Expertise
R&D Tax Credits — identifying and documenting qualifying activities and expenses across a wide range of industries
Cost Segregation — engineering-based studies that accelerate depreciation on commercial and income-producing property
Tax Incentive Analysis — technical analysis that stands up to IRS and state scrutiny
Results & Experience
$100M+ in tax credits delivered to clients
Partnered with over 100 tax CPAs
Tax credits retained under IRS and state audit scrutiny
Experience across manufacturing, technology, engineering, construction, and more
Industries We Serve
Manufacturing & Precision Machining
Software & Technology
Engineering
Construction & Architecture
Real Estate (cost segregation)
Life Sciences
Food & Beverage
Why CPAs Partner With Firestone
Firestone partners with CPAs who want to provide additional value to clients without developing specialized R&D tax credit and cost segregation expertise internally. Firestone collaborates with existing advisors, respects client relationships, and provides the technical documentation and compliance support to back up every claim.
Zach Boyd, CPA and founder of Boyd CPA, has partnered with Rance since 2017. In one engagement, Firestone's cost segregation study for one of Zach's commercial real estate clients produced a $280,000 deduction and an estimated $60,000 in tax savings. "Many CPAs are looking for ways to offer more strategic value to their clients," Zach says. "Partnering with Firestone is one of the best ways to do that, and Rance has never once tried to pull a client away from my practice."
Steps to Success
Firestone’s Process
#1
Investigate
Free, with no obligation. Each project begins with a meeting to identify areas within your business where potential tax savings may be found. Firestone works to understand your circumstances, gathers relevant information, and estimates the potential tax benefit available.
#2
Calculate
Firestone performs a full technical analysis to apply the relevant tax rules to your company, identifies qualifying items, analyzes costs and expenses, and prepares the final calculations — then provides the forms, schedules and instructions needed to claim the tax benefits.
#3
Document
Firestone prepares schedules and memoranda supporting the tax benefits claimed, built to hold up under IRS or state audit.