Building Green Pays!
There are many IRS programs and tax credits to save your company big money during tax season. Our mission is to help you take advantage of each and every one of them.
The goal of cost segregation analysis is to segregate assets into distinct class categories including personal property, land improvements, and structural components.
The Tax Increase Prevention Act of 2014 allows the incentive to be claimed retroactively for all residential developments built within the last three years and any unused credit can be carried forward for up to 20 years.
The tax provision was implemented through the 2005 Energy Policy Act (EPACT) and was extended through December 31, 2020, by the Tax Extender and Disaster Relief Act of 2019.
Make money from funds that would have been used to pay taxes.
An installment sale can be a great way to defer paying capital gains tax for up to 30 years.
Retirement plan designs
Tax Free Asset planning
Exit Planning to Third Party, Family Members, Key Employees
Business Protection Planning
Key Employee Reward and Retention Plans
Business Interruption Planning
Maximizing Business Cash Flow
Estate Planning and protection while Minimizing taxes
Shift money out of the business for future real estate or business opportunities
By identifying your property components and reclassifying those assets, you can generate an immediate tax depreciation deduction in the current tax year, tax deferrals, significant cash flow benefits from real estate operations, and an opportunity to redeem depreciation deductions in preceding years.
Section 179D (Energy-Efficient Commercial Buildings Deduction) was extended through December 31, 2020 by the Tax Extender and Disaster Relief Act of 2019. The deduction grants commercial builders or building owners to claim a tax deduction for up to $1.80 per square foot for their energy-efficient structure or buildings during the open tax years
Section 45L or Energy Efficient Home Tax Credit is a tax provision that allows qualifying contractors to claim up to $2000 credit for meeting energy-efficient standards from their systems and installations operated around August 5, 2005, and December 31, 2020.
The Tax Increase Prevention Act of 2014 allows the incentive to be claimed retroactively for all residential developments built within the last three years and any unused credit can be carried forward for up to 20 years. There is no maximum number of units when claiming for the credit as long as your property meets the qualified energy-efficiency standards.
R&D Tax Incentives are available for businesses that have qualified research and development practices that are operating either globally, at a federal, and multi-state level. Presently, there are over a hundred countries and over forty states offering these valuable incentives. It remains one of the excellent sources for companies to tremendously cut down their tax liability.
To qualify for the R&D tax credit, the research and development efforts of your business must be determined to meet the following criteria established by the IRS:
The business activity performed must prove that it made attempts to eliminate uncertainty in regards to the method or design of the development or enhancement of a product or process.
The business activity must demonstrate an evaluative process that can perform an identification and evaluation method with several alternative ways to get the desired result. This may involve a systematic trial and error testing, simulation, modeling, and other processes.
The purpose of the activity must be to create or design new and improved products or processes that result in improved quality, functionality, reliability and performance.
The experimentation process of the business must rely on the principles of hard sciences such as engineering, biology, chemistry, physics, or computer science.
Aside from the activities that qualify for the R&D tax credit, the expenses incurred by performing these activities also make you eligible towards the credit when it includes the following types:
Wages that are paid to employees for conducting, supervising, or supporting the qualified research.
Supplies or any tangible property (except for land, land improvements, and properties that are likely to depreciate) that are used and consumed in the course of research and development.
Contract Research Expenses that are paid to third parties who operate QRA’s (Qualified Research Activities) on behalf of the taxpayer despite the prevailing result of the activity.
In March 2020, the government created new legislation that would provide financial aid and assistance to individuals and real estate investors in response to the coronavirus pandemic. Below are a list of topics covered:
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