How Version2 Claimed $100,000+ in R&D Tax Credits With Fewer Meetings and No Pressure
At a glance
Client: Version2, an advertising technology company headquartered in Las Vegas
People: Shane Taylor, co-founder and COO, and Nicole Jensen, CPA, accounting manager
Service: Federal and California R&D tax credits for two operating entities
Referred by: Version2's CPA
Result: More than $100,000 in combined credits, including $20,000+ from a second entity the team hadn't expected to qualify
The situation
Version2 is a technology company at its core. Since its founding in 2020, it has grown steadily around ORION, its own platform for planning, launching, and analyzing programmatic ad campaigns across several major ad-buying platforms. Much of the team's year goes into building new and improved features for that platform, which is exactly the kind of work the R&D tax credit was created to reward.
Version2 had claimed the credit before, so qualifying wasn't the question. The experience was. Their previous provider did not create a customer-friendly experience, and the process stretched over months. Shane also remembers the pressure. Once they got started, the provider called him almost every day.
They wanted a better fit.
How they found Firestone
Version2's CPA recommended Firestone and introduced the team to founder Rance Hughes, CPA. That introduction mattered.
"Our CPA spoke extremely highly of Rance, so that always helps," Shane said.
Rance sees it the same way. A cold call comes with no trust, but a referral from an advisor the client already relies on does. Because Firestone doesn't provide tax preparation or accounting services, the CPA stays the client's primary advisor from start to finish.
Shane said the relationship itself counted too. "You're personable, thoughtful, and thorough," he told Rance. "We feel very comfortable with you. That kindness and professionalism comes across immediately."
How the work got done
The first thing Nicole noticed was how little of her time the process took.
"When we used a different firm before, it was four or five meetings and took months," she said. "With Firestone, it was one or two meetings. They got the information, and then they were able to do it."
Fewer meetings can mean less care, so Rance asked about that directly. Nicole said the level of detail felt the same. Shane's answer was simple: "No, not at all." Both said the work was just as thorough as before, or more so, and asked less of their team.
The engagement covered two operating entities and both federal and California credits. Magnitude of Change, Version2's sister company, generated more than $20,000 in credits the team wasn't expecting.
Along the way, Firestone identified areas where the rules called for a more careful approach. For certain members of Version2’s team, Firestone recommended reducing their R&D percentage to just below the 80% “Substantially All” threshold to ensure a reasonable and defensible credit claim. Nicole welcomed the guidance.
"We don't know the guidelines very well," she said. "Making sure we stay compliant is really important for us."
That's how Firestone approaches every credit: claim what the facts support, and document it well enough to defend.
What changed for Version2
Beyond the credits, Version2's leadership came away understanding the R&D credit better than in past years. Nicole has been through the credit four or five times. She noticed that Shane and David Burns, Version2's co-founder and CEO, retained much more this time because Rance explained the reasoning as he went.
"I learned a lot," Shane said. "It was a very fluid experience."
The contrast with their previous provider came up again at the end of the conversation. "There's a massive difference between being pushy to get the business and being helpful and encouraging to get things done by a deadline," Shane said. "I didn't feel any pushiness whatsoever."
Both rated Firestone a 10 out of 10 on how likely they'd be to recommend it, and Nicole already has another business in mind that could use an R&D credit. When Rance asked Shane what Firestone could do better, he couldn't think of anything. "Your approach to this was nails," he said, borrowing David's phrase for incredibly good.
Could your company qualify?
Software and technology companies often do more qualifying work than they realize. Companies already claiming the credit can benefit from a fresh look, too. Learn more about the R&D tax credit for software and technology companies or read our R&D tax credit FAQs. If you're a CPA with clients like Version2, see how Firestone works alongside your firm in our CPA partnership case study.
Curious what your company could claim?
