The corporate tax deadline has been extended. How can you optimize your benefits?
The IRS’s recent extension of the tax deadline means many businesses have an unexpected opportunity to reanalyze their taxes and determine if they are missing out on any lucrative benefits. Becoming tax credit savvy is not something you have to do on your own; an experienced team of national tax experts can guide you through the process
Many taxpayers submit their taxes without the knowledge that they qualify for lucrative credits. Our expert staff includes specialty engineers, tax accountants, and other technical advisors. We’ve partnered with businesses across many industries such as software development, commercial building property owners, architecture, manufacturing, technology, to help our clients gain the maximum amount of tax benefits they deserve. Does your business qualify for any of these specialty tax rewards?
Cost Segregation: A Strategy with Potentially Monumental Savings
- Increases short-term cash on hand by separating all building elements that can be depreciated over 5, 6 and 15 years
- Interior features, such as plumbing, as well as land improvements, such as parking lots, are included in the benefit
- A survey of all property components must be completed by a qualified tax engineer
179D: Deductions for Energy-Efficient Commercial Buildings
- Open to builders and property owners that construct qualifying dwellings or make energy-friendly improvements to current buildings
- Buildings must reduce energy consumption by 50%
- $1.80/sq. ft. can be deducted for new or existing buildings that meet all requirements
- $0.60/sq. ft. can be deducted for if buildings meet partial requirements
45L Credit: A Tax Benefit for Energy Efficiency
- Rewards property owners, contractors and developers who build or renovate commercial buildings that meet energy-saving requirements
- Property elements must reduce energy and power costs by 50%
- Energy analysis must be completed by an authorized RESNET certifier
- A $2,000 per dwelling credit can be claimed for current tax year as well as retroactively up to 3 tax years
Research & Development: Tax Credits for Innovation
- Rewards companies for practicing innovative activities within the United States
- Eligible activities aim at improving products and technology
- A wide range of industries can claim the R&D tax credit
- Eligible companies can also claim against payroll taxes
National Tax Group is your trusted partner in maximizing your tax returns. If you think your business qualifies for any of these tax savings, call National Tax Group at (561) 257-3436 to start your free analysis and take the first step to reexamining your significant tax savings.