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R&D All across the nation

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All across the nation, Civil Engineering Firms are consistently missing out on millions of dollars in Federal Tax Incentives!

How?

Simple. Federal Tax Incentives have been crafted, passed, and signed into law making hundreds of millions of dollars available. For some reason, Civil Engineering firms consistently fail to capture the money allocated for them.

Why? Read More

The Permanence of the R&D Tax Credit, a Reality?

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The R&D Tax Credit has been in existence for the past 33 years, having been extended by Congress 15 times since it was created in 1981. On Wednesday, May 20th the U.S. House of Representatives passed a bill known as the “American Research and Competitiveness Act of 2015” or H.R. 880, to make the federal research and development tax credit permanent. The bill passed with a 274-145 vote, indicating that the bill has support from both parties however it still needs to make it through the Senate and many hurdles await the bill there. Republicans hold the majority in the Senate so the bill seems favorable to pass but President Obama has threatened to veto. Read More

“R&D, I don’t think we do that!”

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If, when you hear R&D, you think of people in lab coats tinkering with chemicals, ultra high tech industries and Fortune 500 companies, you are not alone.  However, things have changed!

In 2001 the IRS changed the definition of R&D and the changes were so broad that it virtually encompasses all manufacturing or technology organization in some way.

Why is this?  It’s because, by and large what do manufacturing companies do?  Read More

The #1 Lie About Cost Segregation

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Cost Segregation on Older Buildings?

It is impossible for me to calculate the number of calls I’ve had with building owners and CPAs on the subject of Cost Segregation. Working some numbers in my head (ok, on my calculator), the number is likely well over 10,000. Out of all those calls there is one particular item that continues to rear its ugly, uninformed head and I can no longer stay silent. I must respond… with vigor!

The “item” in question comes in the form of the following quote, which I’ve heard too often to count: Read More

Do you have a ‘Tax Preparer’ or a CPA?

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Depending on your answer, you could be getting bad advice which puts more money in the IRS’s coffers (and leaves less in your pocket).

Below is the crux of a typical tax preparer’s opinion regarding Engineering Based Cost Segregation Studies which an experienced CPA would say has kept many commercial property owners from implementing this highly beneficial tax strategy which is effectively encouraged by the IRS.

Here is a typical ‘tax preparer’ statement to commercial property owners: Read More

Auto Dealerships See Tax Benefits From Renovation

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Many automobile dealerships implement significant renovations as the industry morphs due to technology changes and as manufacturers rebrand.  The goal of the renovations are, of course, to improve top line performance (sales).

Top line goals can effectively be achieved more quickly by capitalizing on the tax benefits associated with the renovations; for instance, it’s not uncommon for $1MM in renovations to conservatively equate to a $60,000 tax related improvement in the bottom line. Given a 10% profit margin, that equates to a $600,000 increase in top line results. Read More

9 out of 10 Commercial Property Investors Are Overpaying on Income Taxes

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Year after year, the Federal Government has continued to incentivize those who invest in Commercial Property. The IRS has established guidelines that, if ignored, cause commercial real estate investors to pay more in taxes than they should.

What guidelines are being ignored by Commercial Property Investors?

Those revolving around Accelerated Depreciation; known in the taxation world as Property Cost Segregation. Read More