Claim Your Lucrative R&D Tax Credit by Amending Your 2019 Return

Get rewarded for Research and Development initiatives even in prior years of tax returns.

This year, many companies submitted their tax returns – not knowing their everyday activities qualify as research and development initiatives, entitling the company to the lucrative R&D tax credit.

However, it’s not too late for companies to take advantage of this potential cash flow, even though they may have technically missed the deadline. If your company created new products, applied research or developed new processes in the last tax year, you may be able to maximize cash benefits by amending past year tax returns. NTG tax experts can help you go back up to three previous tax years for even more potential benefits.

According to Forbes, the R&D tax credit is still the best tax incentive for small to medium businesses. In the 21st century, when many companies are relying heavily on technology and experimentation, this tax credit can serve to fund businesses across a vast number of industries, making them more competitive in today’s global economy.

If you are looking to amend your tax return, it’s important to partner with tax experts that focus on this specialty tax area. Using the IRS’s four-part test, our tax experts at National Tax Group can help you evaluate if your business qualified for the R&D tax credit. Step by step, we will lead you through the process of retroactively filing for this dollar for dollar reduction.

National Tax Group assists businesses of all sizes, helping them navigate the legal language of the tax code to maximize R&D tax credits, even if they already submitted their return. If your company has been actively involved in research and development activities, give us a call today. We can help you receive the R&D tax credit you may have missed out on.

3 Ways CPAs Can Benefit By Utilizing Cost Segregation Experts

CPA Partnership+ Advisor Meeting with a Client

In the last few decades, CPA’s have begun to realize the opportunity that Cost Segregation Studies can provide for their clients. Cost Segregation is an engineering-based study that gives a strategic tax plan to accelerate property depreciation and helps businesses cut costs on any real estate that has been recently purchased, remodeled, or constructed. CPA’s have been slowly but surely taking advantage of this tax-saving opportunity for their clients, but some still have doubts.

National Tax Group specializes in working directly with our CPA partners to ensure their clients stay satisfied and maximize their return with our assistance. We offer many advantages to our CPA clients, but these top 3 can help your clients save money while boosting your business.

Maximizing your client’s dollars will keep them coming back and increase your yearly revenue. Clients have a lot of trust invested in their CPAs, and you work hard to keep that trust. Spending time to leverage tax incentives that your clients qualify for can save them thousands of dollars during the tax season. Satisfied clients that see these significant savings are likely to come back year after year.

Find other hidden tax savings for your clients. National Tax Group specializes in more than just Cost Segregation. We can take a look at your client’s financials and find other hidden tax savings they could benefit from. Many businesses do not realize they qualify for several tax incentives that are available to them federally and through the state.

Direct your clients to new cost saving opportunities when building new properties, expanding their properties or making capital investments in their business. By being able offer a strategy for their success, your added value will be appreciated.

Our exclusive CPA Partnership+

CAP Partnership+National Tax Group offers a unique program for all of our CPAs called the CPA Partnership+ Program. Through this program, we partner with you to save your clients more in taxes and provide you with an added incentive. When you refer your clients to us for savings through 179D, R&D, Cost Segregation, and 45L, we’ll return the favor with a tiered bonus. We’ll work hand in hand with you to determine which of our specialized tax services your clients can obtain. Once we determine eligibility, we’ll handle the rest. You’ll start earning commissions as soon as your clients start saving on their taxes.

To learn more about our CPA Partnership+ Program, click here, or give us a call at (561) 257-3436. We offer a free assessment of all our clients to ensure customer satisfaction and a risk-free partnership.

We’re Here to Help Your Business Weather the Storm

We are fully operational during these challenging times and expect no delays, as we are a remote-based company. We will continue to do everything we can to save your business money.

National Tax Group is a team of industry professionals with over 20 years of experience in the field of federal taxes, deductions and credits. Obtaining top-dollar benefits from specialty areas of the tax code has always been our first priority, and during these uncertain times, we are here to help business owners save money. We are currently maintaining our operation as usual, and expect to continue operating at full capacity for the foreseeable future.

Our assessment of benefits is always free and available. We’ll work together with you to determine your eligibility for tax incentives you may be qualified for. We understand the challenges of business ownership, and we are here to help you find new ways for you to reduce your expenses. Discover the savings you’re eligible for.

Architects, Talk to NTG Before Filing your 2019 Taxes

Towards the end of 2019, we saw a lot of major positive changes and renewals within the tax codes that we specialize in. National Tax Group has closely been monitoring the life of the 179D tax code for the benefit of our clients. With the filing deadline for corporate tax returns coming up on March 16th, we want to make sure that you get everything your business qualifies for. 

The 179D is an incentive that expired at the end of 2017, so we are thrilled to be able to help our clients take advantage of this credit for their 2019 taxes, and retroactively for their 2018 taxes. Yes, you read that right, you can claim your benefits for these tax codes from 2018! This is an especially lucrative opportunity for architects. 

Do I Qualify for the 179D tax deduction?

This tax incitative is applicable to any newly constructed or renovated buildings that have installed energy-saving elements. A few qualifying features include but are not limited to: hot water systems, building envelope systems, HVAC, interior lighting systems, insulation throughout the building, lighting sensor and controls. Architects that work on projects that include any energy-efficient elements in those categories are most likely qualified for maximum deductions. 

So before you file your corporate taxes on March 16th, give us a call at 561.257.3436 and we will assess your qualifications for free. It’s not too late to earn double this year, so make sure your business does not miss out!

Restaurant Owners – Are You Taking Advantage of Cost Segregation?

Woman setting a table

Restaurant owners who are building or remodeling their property can reduce their federal tax liabilities through a cross segregation study. Restaurant owners can benefit from Cost Segregation studies by increasing their cash flow and lowering federal tax burdens.

Cost segregation studies are a strategic tax planning tool that is completed to maximize federal income tax depreciation deductions by identifying fixed assets and their costs. It allows for restaurant owners to take their property and have it be categorized into acquisition or construction costs and then applied to the appropriate IRS tax credit. Through a cost segregation study, properties can be reclassified from a standard 39-year depreciable life to a 5, 7, or 15-year depreciable life, which enhances federal tax credit savings, and improves cash flow.

Does My Restaurant Qualify? 

Almost any property from any company or industry can benefit from a cost segregation study, but restaurants are ideal property candidates. National Tax Group has performed cost segregation studies for a variety of enterprises over the last 20 years and has saved our restaurant owners millions in tax incentives. 

Qualifying items that can be reallocated include:

  • Carpeting, vinyl, and epoxy flooring
  • Canopies and awnings
  • Kitchen equipment gas systems
  • Sound systems
  • Equipment related electrical and plumbing connections
  • Decorative light fixtures
  • Kitchen storage and preparation equipment

Cost Segregation is often most lucrative on properties that have spent over $1 Million on the property and its improvements. 

Why Should I Invest in a Cost Segregation Study?

By taking advantage of the benefits a Cost Segregation Study can provide your business, the acceleration of depreciation can give massive tax benefits years sooner than expected. This allows restaurant owners to capitalize on their value and start the new decade by increasing their cash-flow. 

Give us a call today! Our team of Cost Segregation experts will give you a free assessment today to see if your properties qualify! With little work on your part, you could start 2020 off with more money to invest back into your business. 

179D Extended Through 2020

Pen and house blue prints

Retroactively Claim 3 Years’ Worth of Deductions

One of the best things that happened at the close of 2019 was the long-awaited extension of the 179D! This Energy Policy was cultivated in 2005 to allow a tax deduction of up to $1.80 per square foot for both new and existing buildings. This policy was recently extended through 2020, which means commercial building owners and architects who qualify have the opportunity to go back and save for 2018 & 2019!

What does this mean for my business? 

This is excellent news for commercial building owners and architects because this extended tax deduction is for newly constructed or renovated buildings that have installed energy-saving elements. Your business can take advantage of these tax deductions for your 2020 projects, as well as retroactively go back and add these deductions to your 2018 and 2019 taxes. This can mean you earn up to 2 years’ worth of deductions to start 2020 off on a lucrative note. 

What qualifies for the 179D tax deduction?

This tax incitative applies to any newly constructed or renovated buildings that have installed energy-saving elements. A few qualifying features include but are not limited to: hot water systems, building envelope systems, HVAC, interior lighting systems, insulation throughout the building, lighting sensor and controls. If your project includes any energy-efficient elements in those categories, it most likely qualifies for the maximum deduction possible. 

How do I take advantage of the credit? 

Give us a call today! Our team of 179D Tax Deduction experts will give you a free assessment today to see if your properties qualify! With little work on your part, you could start 2020 off with every tax deduction you missed in 2018, as well as take advantage of it for your 2019 taxes! So contact us today because we are ready to help you maximize up to 3 years’ worth of deductions!

45L Extended Through 2020

Increase Your Cash Flow Today for Past and Future Projects

Contractors everywhere are starting the new year on a lucrative foot, thanks to the extension of the 45L bill. 45L is a tax credit available to contractor’s projects for installing energy-saving elements to newly constructed single-family homes and low-rise residential buildings that reduce energy and power costs. It was a lucrative tax incentive that expired at the end of 2017, but was recently extended through 2020 and retroactively applies to 2018!

What does this mean for my business? 

This extension will not only allow qualifying professionals to take advantage of this tax credit in their 2020 taxes, but they also have the opportunity to update their 2018 and 2019 taxes now! National Tax Group is a family of in-house experts that will work with you to obtain up to $2,000 in tax credits for each dwelling unit that qualifies for every year you missed during the expiration. 

What properties qualify for the 45L tax credit?

Any residential property three stories or less that is currently undergoing construction, or has recently undergone renovations to meet the efficient energy threshold has the opportunity to claim this credit for each dwelling unit. So if you are working on adding energy-efficient upgrades to a freestanding single-family home, townhome, manufactured home, condominium, or an apartment unit, that project is highly likely to qualify for the 45L tax credit. 

How do I take advantage of the credit? 

Give us a call today! Our team of 45L Tax Credit experts will give you a free assessment today to see if your properties qualify! With little work on your part, you could start 2020 off with the tax credit opportunities you missed in 2018 as well as take advantage of it for your 2019 taxes! So contact us today because we are ready to help you maximize up to 3 years’ worth of credits!


Tax Alert: 179D and 45L Extended Through 2020

National Tax Group is excited to announce that the 179D and 45L tax incentive legislation has been extended through 2020!

We have been closely monitoring the status and working with government representatives to lobby for the extension of these expired tax incentives that we specialize in. Legislation has extended these two tax initiatives through December 31, 2020. This is major news in the world of construction & development and means your business can again, take advantage of this most lucrative tax incentive.

This is great news for those that took advantage of these incentives before their expiration in 2017 because your business can now claim for the missing years through 2020! The Bill H.R.1865 (H.R. 1865) was a significant win for real estate and architect professionals that can benefit from these tax codes. If your residential property is currently under construction or has recently undergone renovations in order to meet the energy efficient threshold, you can immediately claim those benefits by updating your taxes for 2018 and 2019. 

179D is a tax incentive that is available for newly constructed or renovated buildings that have installed energy-saving elements. This green tax deduction provides tax-saving benefits for commercial building owners, as well as architectural and design firms that have worked on government projects which can now be claimed back for 2018, 2019 and through 2020. 

So contact us today because we are ready to help you maximize these credits for 2020 as well as claim the credits you would have earned from 2018-2019. 

Hotel Owners Stay Alert

New Tax Laws for Significant Savings

Every hotel owner remembers in 2017 when the Tax Cuts and Jobs Acts brought 100% depreciation into place. However, it was not until recently when they finalized the rules of what qualifies and how every hotel owner can claim these savings. 

What Can Your Hotel Write Off?

While the rules set in place in 2017 were beneficial to hotel owners, the new specifications make it clear that they can write off 100% of depreciable business assets with a recovery period of 20 years or less. This means that your hotel can write off 100% of:

  • Furniture 
  • Appliances
  • Computers
  • Equipment 
  • Machinery

This final version gives some clarification on the requirements these assets must meet to qualify for this deduction. With these updates, it gives hotel owners to save big on standard upkeep expenses.  

It is also important to keep in mind that just because these new rules were released in September 2019, this deduction applies to qualified property purchases that were placed in service after Sept. 27, 2017.

How Does Your Hotel Take Advantage?

Of course, your hotel wants to be able to take advantage of this opportunity to increase your cash-flow with this deduction. National Tax Group is here to walk with you every step of the process to make sure you get every dollar your hotel is eligible for. 

With our expertise and experience in the hotel industry, National Tax Group will do a thorough investigation of your hotel assets to make sure you not only get rewarded for recent purchases but previous purchases as well. Even if you missed filing for this deduction in a previous year, you could still qualify them for this coming tax season. 

A cost segregation study is one of the most profitable investments a hotel owner can make due to the revenue-enhancing opportunities they can uncover. To claim your free assessment, call us at (561) 257-3436 or contact one of our tax experts. 


179D & 45L : Green Act 2019 Has High Chance of Passing

Growing Renewable Energy and Efficiency Now (GREEN) Act

National Tax Group has closely been monitoring the Senate situation in regards to the fate of the Green Tax Credits, which is now part of the Green Act of 2019. Through the uncertainty, things are looking good for the bills that have been expired since the end of 2017. Top tax writers from both political parties are growing confident that the presented bill will pass in the next few weeks. 

While the draft is divided into seven sections, the majority of the action falls into three categories: renewable energy production and storage, energy efficiency, and electric vehicles. Some of these provisions renew and otherwise modify extenders themselves; others are pegged to finite quotas that require adjustment, and a few are entirely new incentives meant to spur energy innovation.

Last week the Green Act of 2019 was called to extend the 179D and 45L incentives, alongside several others, from 2017 to 2024. The energy efficiency level to qualify for these tax incentives is also to be lowered from 50% down to 30%. To top it all off, the 179D incentive has been increased from $1.80 per square foot to $3.00 per square foot. The 45L credit will also be granted an upgrade from $2,000 per unit to $2,500 per unit should this green initiative pass on it’s expected passing date of December 20, 2019. 

These Green Tax Deductions will make it possible for businesses and developers to reduce their carbon footprint as well as increase their cash-flow each year. National Tax Group is siding with the tax writers in confidence that this bill will pass. Get your green plans locked and loaded because once this passes, National Tax Group is here to help you claim all of the incentives your business or unit qualifies for. 

Nothing in this draft, except perhaps the inclusion of a biodiesel phase-down, comes as much of a surprise. But the timing, along with the fact that Democrats conspicuously omitted any poison pill pay-fors, is reason enough for optimism as it relates to the tax policy endgame. Congress is poised to approve a stop-gap funding measure this week, giving them until December 20th to procrastinate. In the meantime, the trajectory must change for a tax deal to happen. The Four Corners need something to bring the terms of an agreement into focus, and Democrats speaking with one voice on their ask—in this case regarding clean energy—will be critical. Perhaps an olive branch could be the good-faith catalyst that spurs a needed breakthrough. We’ll know more in the coming days—stay tuned.