R&D Tax Credit
The Research & Development (R&D) tax credit is designed to encourage businesses to increase their competitiveness by providing a credit for activities that qualify as research and development. This credit benefits a wide range of industries, including biotechnology, advanced manufacturing, architecture & engineering, software development and many other types of businesses.
Work Opportunity Tax Credit
The Work Opportunity Tax Credit (WOTC) is available to any business that hires individuals from “employment challenged” targeted groups. These individuals include U.S. veterans, recipients of certain forms of government assistance and individuals with a previous felony conviction. The tax credit ranges from $1,200 to $9,600 per individual, depending on the qualifications of the employee.
A cost segregation study is a federal income tax tool that helps owners of business real estate assets increase cash flow by identifying and reallocating property assets into the appropriate tax depreciation categories, thus reducing taxable income and maximizing return on investments.
179D Green Building Deduction
Section 179D allows businesses to deduct the costs of energy-efficient commercial buildings. This incentive encourages greater energy efficiency in large-scale building projects and is typically utilized by developers, architects, engineering and construction firms. Qualified businesses can claim a tax deduction of up to $1.80 per square foot of the eligible building’s size.