Incentives and Credits
At Braj Aggarwal, CPA, P.C., we know that over 50% of tax incentives and credits go unclaimed annually. In this fast-paced and ever-changing business environment, busy executives may overlook the multiple incentives and credits that are available to their specific businesses or industries. We want to ensure that every opportunity to reduce tax costs, accelerate deductions, improve cash flow and generate refunds is addressed.
Here are just some of the methods we help reduce your tax obligation:
- Identifying federal and state tax credits and incentives that apply to your industry and your specific business
- Providing Energy Tax Incentive Services for clients who may be constructing new buildings, renovating existing buildings or other structures such as parking garages, warehouses, etc. We can help take advantage of the Section 179D deduction and other energy tax incentives.
- Quantifying and qualifying the potential opportunities among the options available to your organization.
- Notifying you of new or expiring tax credits and incentives
RESEARCH AND DEVELOPMENT TAX CREDITS
Many companies believe that their company qualifies for a research and development (R&D) tax credit. However, documenting R&D activities in a way that meets the stringent IRS requirements or state taxing authorities is complicated and time consuming. As a result, companies may not receive the R&D credit they deserve or potentially even worse, do not qualify for R&D credit at all.
Some industries that often overlooked are:
- Aerospace
- Architecture & Engineering
- Automotive
- Biotech, Health & Life Sciences
- Construction & Heavy Equipment
- Distributors
- Electronics & Hardware
- Financial Services
- Food & Beverage
- Machine Building
- Manufacturing
- Medical Devices
- Oil, Petrochemicals & Plastics
- Software
- Tool& Die
The firm’s Research and Development Credit Group has helped numerous clients enhance their businesses through detailed assessments of their R&D activities to ensure they receive the maximum R&D tax credits available under federal and state laws. Contact us to learn how we can help you identify, claim and support these benefits.