Cost Segregation ~ Property Tax ~ R&D Tax Credits ~ Hiring Incentives
Reduce your tax liability and increase near-term cash flow by implementing programs and strategies at the state, local and federal levels resulting from special tax code provisions that are often not fully captured.
Documentation required for these programs is often outside the scope of work provided by your financial team. Our business process and tax experts will work with your team, get the required information and run the detailed engineering studies and data validation to enable you to take full advantage of what's available.
Engineering-based cost segregation permit commercial real estate owners to reclassify real property for depreciation purposes and reclassify it to accelerate depreciation. This reclassification results in significant cash flow benefits in both present and future years. Note that these studies are not limited to new buildings or new renovations. Over 75% of our projects are on older properties using the "catch up" method which can produce significant results. Although some building owners and CPAs have substantial experience with cost segregation, most do not. Countless building owners are missing out on this powerful tax savings strategy.
To facilitate this work, we do an initial consultation and develop a feasibility report to determine the cash flow and net present value (NPV) benefit potential. Our professionals evaluate your current tax status and your future business plans along with your CPA to determine if a full study would be of benefit.
Outside of income taxes, the single largest recurring charge for commercial property owners is property taxes. In most states, owners are required to pay taxes on both their real estate as well as their personal property. These charges are often an immense expense and a constant hit to the bottom line. To ensure you are not being overcharged on your property taxes, a specialist with extensive market experience in valuation, tax and law is needed.
Our experienced team of professionals in mitigation, valuation, assessments and law will work on your case to identify any potential opportunity for refunds and/or reductions in your current property taxes. We perform all the work on your behalf until savings are captured, including partaking in hearings and filing necessary paperwork. We act as an extension of your company toward the governing property tax bodies.
The Research & Development Tax Credit was originally enacted as a Federal Tax Program in 1981 and was designed to encourage American investment in innovation. In 2004, tax regulation changes significantly expanded this credit opportunity which is available to many small and medium sized companies whose activities include design, manufacturing and process improvements. Companies that qualify for this program get significant tax credits based on activities related with developing or improving a product and/or process.
Our team of highly qualified professionals which includes IP attorneys with engineering backgrounds, adheres to the Comprehensive project by Project Approach methodology required by the IRS. By following this methodology, we qualify every applicable employee, activity, hour spent and corresponding wage paid in order to maximize the incentive for your company. We strictly adhere to the applicable sections of the code and provide comprehensive documentation to substantiate our findings.
Hiring tax incentives are available to companies that are growing and creating new jobs, experiencing high turnover in a given year or have seasonal employment swings such as retail chains, warehouses, manufacturers, restaurants, hotels and motels.
Our experts are here to provide guidance on how to maximize the incentives you receive when hiring new employees, summer youths, new adults, new disabled veterans as well as benefits for each new long term family assistance recipient hired over a two year period. Some of the programs that we look into on your behalf are the Work Opportunity Tax Credit, Hiring Incentives Restore Employment Act and the Small Business Jobs Act. The PATH Act of 2015 has significantly expanded the platform of hiring incentives. Local, state and federal tax incentive programs allow employers to reduce taxable liability of private-for-profit employers for the hiring of qualified individuals.