No one wants to miss out on a good money opportunity, especially when it ties directly to your finances. At National Tax Group we have built a team of experts to navigate you through complex tax incentive programs that give you an extra bang for your buck.
First, you need a personalized solution to ensure your claims are accurate and completed promptly. Finding the right specialty tax service for your business or organization could save you thousands of dollars or more on your taxes. Here are some of the best-kept tax credit secrets.
R&D Tax Credit by Industry
Research can be risky for a business to undergo, and through the R&D Tax Credit, you can receive reimbursement for business activities and resources that were utilized during the research.
Research is not just for lab coats and scientists. You may already be implementing research in your business that could qualify. To know if you can qualify for an R&D Tax credit see if you can pass the 4 part test: do you have permitted purpose, does your research identify technological uncertainty, do the activities involve a systematic process, is the research technological in nature?
179D Energy Efficient Tax Deduction
When you go green you save green. The 179D Tax deduction provides benefits to energy-efficient renovation projects Originally passed under the 2005 Energy Policy, the 179D tax provision allows a tax deduction of up to $1.80 per square foot for both new and existing buildings. Projects do not have to be huge overhauls, some qualified examples are hot water systems, interior lighting systems, and insulation.
Almost any company or industry can benefit from a cost segregation study. If your business owns the property, chances are you can increase your cash flow with this tool. Businesses such as restaurants, hotels, apartments, and commercial property can save millions through this incentive.
If you think you could qualify for any of these tax credits, contact the National Tax Group for a free assessment.