Technology

Professional Accountants and Auditors for the Technology Industry

In technology, staying stagnant will leave you behind your competitors. Your company needs to evolve as quickly as tech does. With new advancements, your accounting and advisory needs must also adapt just as quickly.

As a top Illinois accounting and advisory firm, Mowery & Schoenfeld helps startups, SaaS companies, software developers, IT businesses, and other tech companies stay at the forefront of their industry by building stronger financial foundations and enabling smarter planning. From bookkeeping and tax planning to audit, advisory, and growth strategy, our team provides practical guidance to help tech companies improve performance, manage risk, and prepare for what’s next.

CONTACT US

Stefan Beal >
Assurance Partner
Michael Kidd >
Partner, Transaction Advisory Services Leader

Insights

Cash Flow Management: A Complete Guide for Businesses >
Is Your Company’s Finance Tech Stack in Order? >

Who We Serve in the Technology Sector

Your accounting needs can look different depending on the type of tech company you are and where you are in the business lifecycle. Mowery & Schoenfeld partners with a wide variety of technology businesses, from early-stage software companies to mature, investor-backed organizations preparing for their next phase of growth. We partner with:

  • Software-as-a-Service (SaaS) companies
  • Enterprise software providers
  • Software developers and app companies
  • Technology-enabled services companies
  • Cloud and infrastructure businesses
  • Fintech companies
  • Cybersecurity companies
  • Artificial intelligence (AI), machine learning, and emerging technology companies
  • Data and analytics platforms
  • IT services firms and managed service providers (MSPs)
  • Hardware, IoT, and technology manufacturing companies
  • Health tech companies
  • Venture-backed and private equity-backed technology businesses
  • Companies expanding into new domestic or international markets

We understand that a technology company’s needs and goals change. A seed-stage company may want help setting up the right accounting systems, tracking costs, and understanding available tax credits. A growth-stage company may be focused on multi-state tax exposure or investor reporting. Companies preparing for a transaction may need quality of earnings support, financial reporting, and tax. After an exit, business owners may require wealth management, estate planning, and family office services. Wherever your company is, our team can help you get ready for what comes next.

Technology Accounting, Tax, Audit and Advisory Services

Our Firm supports your tech firm and leaders in myriad ways.

  • Tax services and credits: We help you plan ahead, stay compliant, and find tax opportunities that support growth. This includes R&D tax credit studies, federal and state tax planning, QSBS planning, multi-state sales, income, and franchise tax nexus, SaaS sales and use tax, remote workforce state tax implications, international and global scaling considerations, transfer pricing, IP structuring, GILTI planning, foreign entity setup, and individual tax planning for your major stakeholders and owners.
  • Audit and assurance: As your company grows, investors, lenders, customers, and leadership teams need more reliable financial information. Our audit and assurance services include audits, internal control assessments, GAAP reporting support, revenue recognition and ASC 606 compliance from a GAAP perspective, and support for equity and stock-based compensation arrangements, including ASC 718 and 409A considerations.
  • Transaction Advisory Services: We can help you understand the financial impact behind a deal. Our team helps with due diligence, transaction structuring, quality of earnings (QoE) reports, working with your other advisors, and ongoing support after closing.
  • Client Advisory Services: Many tech companies need finance support before they are ready to build a full in-house accounting department. We provide outsourced accounting, fractional CFO support, budgeting, forecasting, risk advisory, and royalty compliance.
  • Wealth management and planning: Thanks to our integrated services, we also help business owners think through their individual tax planning, wealth management, estate planning, succession planning, charitable giving, family office needs, and other financial decisions.

R&D Tax Credits for Technology Companies

If your company invests in software development, SaaS feature engineering, hardware prototyping, artificial intelligence, machine learning, or other technical improvements, the Research and Development (R&D) Tax Credit may help reduce your tax burden. For technology leaders, the credit can offset a portion of the cost of building, improving, and testing new products, processes, software, or technology.

For qualified small businesses, the R&D credit may also be applied against payroll taxes, creating a potential cash flow benefit for startups or growth-stage companies that are investing heavily in development but may not yet have significant income tax liability.

The One Big Beautiful Bill Act (OBBBA) introduced another important opportunity for companies investing in innovation. Under IRC Section 174A, qualifying domestic research and experimental (R&E) expenses paid or incurred in tax years beginning after Dec. 31, 2024, can generally be deducted immediately rather than amortized over five years. For tech companies, this may improve cash flow and make it easier to reinvest in product development, hiring, and growth.

Foreign R&E expenses are still treated differently and generally must continue to be capitalized and amortized over 15 years, so companies should review their research costs carefully and work with advisors to evaluate the best tax strategy.

Should you commission an R&D study?

To properly document Qualified Research Expenses, you need an advisor who can help find eligible activities, put together supporting documentation, and prepare a compliant, defensible R&D credit study.

Your tech company may be ready for an R&D study if you’re investing heavily in development, have a high amount of technical payroll, or spend a lot of time improving products, software, or processes.

The R&D credit and Section 174A deduction rules are related but separate planning considerations. The credit helps eligible businesses reduce tax liability, and certain qualified small businesses may be able to use it against payroll taxes. Section 174A focuses on when qualifying domestic R&E expenses can be deducted. Reviewing both together can help technology companies understand the full cash flow impact of their research investments.

LEARN MORE ABOUT R&D STUDY SERVICES

Get Started with Technology Accounting and Advisory Services from Mowery & Schoenfeld

Talk to an advisor today.