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Restaurant owners who have recently built or remodeled their property have the opportunity to earn more back on their properties by using a strategic tool tax known as a cost segregation study.   This study takes properties like restaurants that usually depreciate over a period of 39 years and cuts the depreciation time to 5, 7, or 15 years. Lessening

Over the past few years, the automotive industry has seen massive growth when it comes to manufacturing vehicles, car parts, paints, and the processes used to design them. With the emergence of electric cars, increased safety features in vehicles, added environmentally friendly components, and more, companies within the automotive industry can earn research and development tax credits now more than

For many business owners, accelerated depreciation is not an unknown concept but it may be hard to fully understand without the help of an attorney or CPA. However, gaining a simple understanding of the different ways your business can take advantage of accelerated depreciation not only helps your company save money in the short term but also helps you plan

Recent changes to Connecticut’s tax laws have been set in place after Governor Lamont signed the state’s budget legislation into law on June 23, 2021. One of the most important tax changes centers around the state’s research and development tax credits.   These tax credits are given to businesses by the state for performing research and development to help develop

If you’re a hotel owner looking to earn tax savings on your property, there are two lucrative tools that can help you achieve this goal.   The 179D Energy Efficient Tax Deduction and Cost Segregation Studies (CSS) are two of the most important tax benefits when it comes to saving and earning money on hotels. Here at National Tax Group,

Many industries and companies have now started to integrate technology into their day-to-day processes and the medical industry is no exception. Incorporating technology into the medical field has not only made the practice more efficient for both doctors and patients but has also paved the way for medical software companies to gain research and development tax credits to further software

The IRS is still experiencing a massive delay in getting refunds and stimulus payments to American taxpayers, according to a number of national taxpayer sources. Currently, they are facing about 35 million unprocessed returns and backlogs and have been unable to give a timeline on when these issues will be resolved.   This delay is largely due to the fact

With the current boom in housing and residential properties and the populations’ rising concern for climate control, many contractors and builders have taken this opportunity to shift their building approach to construct more eco-friendly properties. This shift has opened the door to massive tax credits for individuals in the construction industry.   Contractors, builders, and property owners who have either

Over the past couple of years, the need for technology in the education sector has increased significantly and continues to rise as more individuals are now pursuing their education online. This increase began partially due to the response to school closures during the pandemic. With schools and universities needing to adjust to online classes and advancements, the industry as a

Businesses in the apparel and textile industry are regularly developing and manufacturing new products, materials and processes in order to keep up with changing trends and their competition. Staying on top of these shifts requires a good amount of time, money, and research in order to develop products that match the current market and its requirements.   Because so many