Most Businesses Qualify for

Tax Credits & Incentives

We partner with GMG Savings’ nationally recognized team of industry experts.

Tax credit studies they have already completed have yielded

well over $500M for companies across the US!

PROPERTY TAX MITIGATION

Outside of income taxes, the single largest recurring charge for commercial property owners are Property Taxes.

In most states, commercial property owners are required to pay taxes on both their real estate as well as their personal property. These charges are often an immense expense and a constant hit to their bottom line.

Most companies consider property taxes to be a fixed cost. However, a review of real and personal property tax assessments often results in the identification of opportunities for lower property tax bills.

To be ensured our clients are not being overcharged on Property Taxes, we use an industry specialist with extensive market experience in valuation, tax, and law to perform their Property Tax Mitigation.

A property tax review can result in savings up to 10-25% or more of the total real and personal property taxes paid. Savings identified in the current year are typically realized in future years as well.

If you pay $50,000 or more in real and personal property taxes annually on a commercial property, CLICK HERE to see how much you could save.

RESEARCH & DEVELOPMENT TAX CREDIT

The Research and Development Tax Credit is a Federal program designed for companies that perform manufacturing and other industries such as Engineering, Software, Chemical & Pharmaceutical companies that perform product development activities in the U.S.

An R&D Tax Credit Study is an avenue to receive ‘tax money’ back from prior years while also reducing current taxable income on a dollar-for-dollar basis.

In our R&D Tax Credit Study, we utilize our engineering-based program that focuses on a client company’s operations and processes in order to determine their qualification for incentives.

Our team of highly qualified professionals, including Intellectual Property (“IP”) attorneys with engineering backgrounds, adhere to the Comprehensive Project by Project Approach methodology as required by the IRS. We strictly adhere to the applicable sections of the code and provide first-in-class documentation to substantiate our findings.

By following this methodology, we qualify every applicable employee, activity, hour spent and corresponding wage paid in order to maximize the incentive for our client.

Please note that increased benefits are available for companies that are involved in:

  • Developing and improving quality and cost-efficient solutions and processes
  • Quality assurance and testing
  • Engineering and design
  • Manufacturing
  • Prototyping or modeling
  • Process improvement resulting in better productivity and turn around cycle
  • Specialized assembly processes using technology
  • Developing tooling applications and solutions
  • Product development and improvement

If your company has $1.5M or more in annual payroll AND, has paid Federal taxes within the last 3 years, or plan to in the current year, we need to talk about an R&D Tax Credit Study for your business.

COST SEGREGATION

Cost Segregation is an engineering-based study that permits commercial real estate owners to reclassify portions of real property as more personal property for depreciation purposes.

Because personal property depreciates more rapidly, this reclassification results in significant cash flow benefits in both present and future years through considerably shorter depreciable tax life and accelerated depreciation methods.

If you own a commercial property that:

  • Was purchased or built within the last 20 years, with $500K or more in cost, or
  • Has had renovations/improvements within the last 20 years of $250K or more in cost,
  • AND you have paid federal taxes within the last 3 years or plans to do so in the current year, then

CLICK HERE to see how much you could save with your Cost Segregation Study.

BONUS AND 179 TAX CREDITS

Depreciation is writing off on taxes of the cost of large purchases or investments in regular amounts over a number of years. Through a set of incentives designed for small business, you may claim a larger percentage, or, in some cases, all of the costs in the first year.

Through Bonus Depreciation, you can claim up to 100 percent of the cost of an item for the 2018 tax year.

Section 179 depreciation (first-year expensing) lets you deduct all or part of the costs of tangible personal property items like software, hardware, machinery and equipment used for your business at least 50 percent of the time.

The definition of “tangible property” is can seem somewhat unclear because while it includes some capital items, it excludes others, like land, buildings, and inventory.

Beginning January 1, 2018, the maximum annual expense deduction became $1 million (with rates adjusted annually for inflation).

If you have purchased a significant amount of software, hardware, machinery or equipment for your business, we should talk about how Bonus and Section 179 can help your business.

Employment-Based Tax Credits

With unemployment regularly dipping below 5% and employers facing rising labor and health care costs, there has never been a better time to take advantage of the local, state and federal hiring tax credits that help employers offset income tax liability.

Some programs base their benefits on the creation of new jobs, while other programs are designed to offer tax credits for employing individuals from specific target groups.

Employers who participate in Employment-Based Incentive programs have the opportunity to minimize their company’s tax liability and offset the high capital costs associated with new, expanding or relocating business sites.

Employment-based Tax Incentives can also improve the company’s cash flow. And that extra cash can be used to offset the need for cutbacks or to fund additional growth, or even provide additional compensation.

Some of the more popular Employment-Based Tax Incentives  include:

New hires and existing employees may fall into groups that are eligible for Employment-Based Tax Credits. Virtually all employers in these industries qualify for Employer-Based Tax Incentives:

  • Manufacturers
  • Software Companies
  • Producers of Products
  • Architectural / Engineering / Design Groups
  • Pharmaceutical Companies
  • Labs
  • Startup Companies
  • Companies Performing Technical Functions

Are you ready to take advantage of the benefits waiting for you?