Business Incentives
Our Business Tax Incentives can unleash new found money to help you grow faster!
RESEARCH & INNOVATION CREDITS (R&D)
If a company has invested time, money and resources into the advancement and improvement of the company’s product or processes, then it’s likely that the organization qualifies for the Federal R&D Tax Credit Incentive Program. However, many firms are unaware of how to qualify or what to even qualify for, so the opportunity goes unclaimed.
While more than 14,000 U.S. companies claim federal R&D credits annually, less than 33% of companies that qualify for the credits apply for them.
- A hidden and immediate source of cash for many small and mid-size companies
- A significant reduction to current and future year’s federal and state tax liabilities
- Over $5 Billion in federal R&D tax credit benefits are given out annually
- Approximately 80% of the $5 Billion goes to a few of the nation’s largest companies
EMPLOYMENT RETENTION TAX CREDIT (ERTC)
The Employee Retention Tax Credit (ERTC) is a refundable tax credit that rewards businesses for keeping employees on payroll during the pandemic. It extended until the end of the third quarter of 2021, September 30, 2021. (You can only receive the ERTC in the fourth quarter of 2021 if you qualify as a “recovery startup business” under Section 3134(c)(5) of the IRS Code.)
Eligible employers can claim the credit against the employer share of Social Security tax equal to 70% of the qualified wages they paid to employees after December 31, 2020, through September 30, 2021. Because qualified wages are limited to $10,000 per employee per calendar quarter in 2021, the maximum ERC amount available is $7,000 per employee per calendar quarter, for a total of $21,000 in 2021. The maximum ERTC amount available in 2020 is $5,000 per employee per year, bringing the total amount of available per employee would be a total of $26,000.
ARE YOU LEAVING MONEY ON THE TABLE?
We find that 8 out of 10 businesses and commercial property owners are leaving money on the table every year.
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