Tax Credits – Business & Individual

There are various IRS and State tax credits available to businesses, depending on which field of business you are in.  

IRS and State tax credits can be a substantial piece of lowering your taxes. 

If your business is hiring new employees and if your employees meet certain criteria, you may qualify for a credit equal to 40% of an eligible employee’s qualified wagesup to a statutory maximum 

If you are in a business where your employee receives tips as part of their wages, you may be eligible to claim a tip credit. The difference between an employee’s federal minimum wage and cash wage would be your tip credit.  

Many electric vehicles can qualify for the Plug in Electric Drive Vehicle credit. Depending on which vehicle you purchase, the credit may be as high as 7,500.  

A crucial tax credit to companies engaged in activities to improve or develop processes, software, techniques, or formulas are eligible for the Research and Development credit. This credit provides a dollar-for-dollar cash savings on money spent on qualified domestic expenses, such as wages, supplies, and contract research expenses. 

Tax Services

Our professionals have extensive experience in tax preparation and planning for S-Corps, Partnerships, LLCs, C-Corps, Estates, and Trust tax returns. We pride ourselves in understanding complex tax transactions and can implement tax strategies to minimize tax liability.

Business Advisory

Our firm will guide you through any challenge you face such as buying or selling a business, succession planning, understanding how the tax reform (TCJA) can benefit your business, converting your entity structure to a more favorable treatment, assisting in getting your business a loan, analyzing your current insurance policies, among various other advisory services.

Individual Advisory

Our professionals will assist in helping you reach your financials goals. We take a closer look at your current financial/retirement planning and analyze your options, while taking into account tax deductions. We consider the value of your estate and will be able to implement estate planning strategies so your wealth can transfer seamlessly to your family.

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