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 that 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 is the Moving Forward Act and why should you be following? What Should We Be Watching? The Moving Forward Act is
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 &
An increase in demand for R&D tax credits has taken New Hampshire by storm. Governor Chris Sununu recognized 2020 as a historic high in the volume of R&D credit business applications — resulting in a whopping 276 recipients. However, the rising demand for this tax credit has resulted in a smaller share for businesses. This year, the number of businesses
Since it has entered the global market, the medical marijuana industry has continued to experience rapid growth. As state laws begin to adjust based on the legalization of both medical and recreational marijuana, companies are now finding themselves in unique positions to start exploring research and development for marijuana products and indoor growth systems. One of the main research
Industrial and manufacturing companies can start receiving more money back on their properties by using a strategic tool tax known as cost segregation studies. This study takes facilities like manufacturing and Industrial plants that usually depreciate over a period of 27 to 39 years and cuts the depreciation time to 5, 7, or 15 years. Lessening the time it
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