If you have real estate or clients who own real estate, it’s important to know beneficial tax planning strategies to maximize your investments. One of the best tools to use is a cost segregation study! What is a Cost Segregation Study? Cost segregation studies are a strategic tax planning tool that is completed to maximize federal income tax depreciation deductions
Are you missing out on potential tax credits? While the technology, pharmaceutical, and manufacturing industries are thought of as the typical research and development (R&D) tax credit recipients, however, architectural and engineering firms can qualify, too. Through everyday activities where they continuously develop new and improved designs, concepts, and processes. The more qualifying activities you are participating in, the higher
Climate change has been a top priority for the current administration. The Budget Reconciliation Bill is moving quickly through Congress. This is the most comprehensive climate proposal coming out of Washington, tax incentives are changing to promote building with clean energy in mind. What Are We Watching? The 179D Tax Deduction Originally passed in 2005, the 179D tax deduction is
In 2005, the Internal Revenue Code added an internal revenue incentive called the Energy Efficient Home Credit, more commonly known as 45L. This incentive allowed “Eligible Contractors” to collect tax credits for the construction of energy-efficient homes. Eligible Contractors are categorized by the IRS as any trust, estate, partnership, company, or corporation that was in charge at the time of
We’ve all heard the saying politics is personal. Whether you love the news or hate it, it’s important to follow what legislation is making its way through Capitol Hill and how it affects you and your bank. What Should We Be Watching? The Moving Forward Act is infrastructure legislation passed this month in the House of Representatives that is set
Filing your taxes can be tricky. With so many different rules and regulations to follow, it can feel like a miracle just to have them finished in time, let alone spend extra time figuring out where you can save money. That’s where we can help. At National Tax Group, we want to keep an extra eye out for the little
Are you missing out on a tax deduction? If you have recently started a new construction or renovation of a commercial property, you might be missing out on a big-money opportunity. The 179D energy-efficient tax deduction is a tax incentive that is available for newly constructed or renovated commercial buildings. Our experts at National Tax Group can help you determine
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
The end of the year is quickly approaching. With only a few months left in 2021, improving your business should be at the forefront of your goals. There are many ways to achieve this success — from hiring the right people to figuring out a work schedule that best fits your business needs. However, the most important pillar to any
The key to building any profitable business is increasing sales and decreasing costs. While sales are largely up to the consumer, taking advantage of money-saving techniques can help your business avoid financial pitfalls even if sales are down. Our business tax advisors have compiled a list of ways to reduce costs and grow your business savings. 1. Claim Research &
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