A way to minimize your tax liability and increase cash flow
Now is the time for you to take a closer look at how tax incentives can improve your bottom line. The federal government, as well as the states, are using tax credits and deductions to encourage investment, stimulate innovation, and conserve energy.
For instance, the federal government is encouraging contractors who are retrofitting government buildings to include energy-saving features in their plans. If they meet the requirements, it can mean tax deductions for them; and some architectural and engineering firms are using those tax incentives to greatly reduce their own tax liabilities.
Are you eligible for tax incentives?
Many tax incentives are industry agnostic like cost segregation. Under cost segregation if you have renovated or constructed property in the last 15 years that you own or lease, you may be eligible to receive tax credits.
Other tax incentives are industry specific, such as the Domestic Production Activities Deduction (DPAD, also called IRC Code 199) for manufacturers. Because we have tax specialists with industry knowledge, no matter what industry you are in, your organization can depend on us to maximize its opportunities for tax savings.
We will bring a team of experts to help you assess how an incentive fits with your tax strategy and if the time is right. The tax team will fit your particular situation, but it can include lawyers, engineers, architects, valuation experts, and tax specialists, as well as CPAs.
As a team we will analyze your activities and associated costs to determine if you meet the requirements for tax incentives. Often this is complex, so you will appreciate the experienced and specialized skills of the team. The tax specialists will come with a thorough understanding of relevant codes, regulations and administrative pronouncements on a wide range of tax incentives.
Because the IRS says the taxpayer bears the burden of proof, we will help you carefully document tax credit qualifications. We have developed a methodology that is designed to give you confidence in your decisions and the facts you can depend on in case of an audit.
A sample of the tax credits and incentives we document for clients includes: