Profile: Jeff Haskett
Meet Jeff Haskett. President of Clarus R+D.
Name: Jeff Haskett
Job: President of Clarus R+D
City: Columbus
Hometown: Stow
Q: What do you do at Clarus R+D?
At Clarus R+D, our mission is to put hard-earned money back into the hands of companies that fuel the growth of our economy.
Our cloud accounting solution offers a simple and cost-effective solution for startups, SMBs, and enterprise customers to claim both federal and state R&D tax credits. Our software leads clients through their R&D study using a series of well-defined steps, with real-time credit calculations along the way.
Utilization of our Turbo Tax-like software ensures a consistent and quality product at the right price for our customers.
Q: What’s a problem that you are working to solve?
The PATH Act of 2015 greatly expanded the R&D credit’s usefulness to startups and SMBs. As a result, the Joint Committee on Taxation projects that 400,000 companies will claim roughly $30 billion in R&D tax credits in 2025.
The majority of these new claimants will be SMBs with an average credit amount of $50,000 - $75,000. Yet a traditional R&D study would cost $30,000. Clarus R+D is solving this ROI problem by leveraging technology to offer affordable, fully compliant R&D studies for startups, and SMBs.
Traditionally, taxes and tax incentives are boring. A lot of programs haven’t changed for decades. But now with the global pandemic, these programs are being used to channel billions of dollars to employers to help them rehire workers. It is critically important for businesses to understand how to find these credits. In addition to the R&D tax credit, we can help our customers claim the Employee Retention Tax Credit and other specialty tax benefits.
Q: What’s a lesson you’ve learned that has helped shaped your work?
I’ve learned that most of this funding simply gets missed. It never gets into the hands of innovators and entrepreneurs. Business owners and governments need intermediaries to make this process easy and these funds accessible.
Partnerships between the public and private sectors help give access to these programs. If we stay focused, we can create a lot of benefits to our economy.
Since launch, Clarus R+D has helped 500+ growing companies claim over $42 million in tax credits. Our goal is to give SMBs access to the same opportunities that larger corporations have had. By simplifying the process to claim these tax credits, SMBs can make an impact on local economies.
Q: What’s a trend in technology or innovation that you believe doesn’t get enough attention?
The trend to simplify. I like when technology makes things simple, accessible, and affordable. That is what technology should do.
Historically, professional services models commonly seen in accounting and legal services fundamentally focused on expertise and valued over-complicated processes to justify high hourly bill rates. By disrupting or reinventing old business practices, we can use technology to make things simple, efficient, and high value. Progressive, forward-thinking firms are catching on to this and turning to solutions like ours.
That is what technology is meant to do - disrupt and make things more efficient. We tend to overlook things that seem boring. But creating this value is very exciting. Like when businesses fundamentally serve people. We unlock a lot of value by making something simple and accessible. Sometimes the trend is to make things entertaining or flashy. But the real value is making things simple and easy - giving us back time in our day.
Q: What’s one moonshot idea that could help make Ohio a world leader in technology and innovation?
Let’s embrace who we are. Ohioans know how to create and grow well run businesses. I think our special sauce in Columbus is that we are people who know how to do the basics well. We have great products, good customers, and deliver excellent service. We shouldn’t necessarily try to be the next Silicon Valley. Let’s be Ohio!
We should focus on the foundation of running strong businesses and show who we are - hard-working midwesterners that can build and scale sustainable companies. We see too many stories out there of companies that are just not fundamentally sound, built on shaky foundations.
Q: What’s a recent book, podcast or news story that you found interesting?
How I Built This - Guy Raz (podcast): I enjoy listening to the individual entrepreneurs tell their stories on how they built their companies. They share all the ups and downs along the way. It is very relatable for anyone growing a business.
Freakonomics - Stephen J. Dubner (podcast): Presented in story form, this podcast is fascinating and engaging as it talks about the social impact of economics and policy.
Q: What's your favorite place in Ohio?
1.) Ohio Stadium. Because I am a Buckeye. I have so many great memories there.
2.) My backyard - Home is a peaceful place that centers me. As an entrepreneur, I’ve had to train myself to leave the office each day with things undone. My home (and family) are a place of rest, relaxation, and refuge. I just love being at home with them.
Q: What makes Ohio special to you?
Ohio is my home. This is where I was born, where I grew up, where I went to school, where my family is. With my oldest daughter studying at Ohio State, we are 4 generations of Buckeyes. It is who we are. It is a core part of my identity. I love to travel but it always feels great to come home. And more specifically, Columbus feels like a city on the rise. There is so much potential here. I firmly believe my children will always have opportunities and jobs available to them.
Connect with Jeff on LinkedIn.