Tax Incentives Mean Money For You
Business Owners are rightfully frustrated with the complexity and length of the federal tax code. It is that length and complexity that allows the largest corporations, with their army of attorney’s, including tax specialists, to take advantage of tax incentives that others would never even know about.
Just as most doctors would not be able to perform brain surgery, most CPAs don’t have the specialized expertise and experience to help their clients capture complicated tax incentives.
That’s why good CPAs and Financial Advisors love working with our consultants to help their clients take advantage of the specialized tax incentives and audits that are typically only taken by the largest corporations.
Some of the specialized tax services offered by our consultants include:
Cost Segregation of Commercial Property
Engineering based cost segregation studies permit commercial real estate owners to reclassify real property for depreciation purposes and reclassify it as more rapidly depreciating personal property. This reclassification can result in a cash flow increase of 5% – 8% of the building’s cost.
“Cost Segregation Studies are a lucrative tax strategy that should be considered in almost every real estate purchase.” -US Treasury Department
Research & Development Credits or Manufacturing Incentives
Any company that designs, develops, or improves products, processes, techniques, formulas, inventions, or software may be eligible for an R&D Tax Credit. In addition to the current year, businesses may claim for the last three years where credits were not taken.
“The R&D credit is designed to spur growth through innovation by enabling taxpayers with research-related expenditures to receive a credit against their regular income tax liability”-American Institute of CPA’s (AICPA)
Hiring Tax incentives
Many employers are not aware of the many tax incentive programs available to help companies hire and keep employees, such as: The Work Opportunity Tax Credit, Hiring Incentives Restore Employment Act, and the Small Business Jobs Act. The PATH Act of 2015 significantly expanded the platform of Hiring Incentives. Congress and the IRS want you to take advantage of these tax incentives.
Commercial Property Tax Audits
Commercial property owners who haven’t appealed their property taxes this year, or ever, are likely overpaying the government by thousands or tens of thousands of dollars. Besides the reduction of commercial property tax liability going forward, a commercial property tax audit may recapture overpayments from previous years.
Get Money Now
If you would like to see just how much money we can find for you to add to the bottom line, book a 15 minute meeting with me. We’ll find the money in 5 minutes and you can ask questions for as long as you like.
By the way, we guarantee that you will not be audited or if you are we pay for it and we defend you! Think your CPA will do that? Our specialized tax attorneys have educated a lot of the IRS auditors on how these various studies should be done and how to do an effective audit.
Usually an hour of education by one of our attorneys and the auditors close their books and go away. But if they should proceed we’re still there for you to the end and you pay NOTHING!