Architectural and Engineering (“A&E) firms continue to be an industry that is growing significantly in the U.S. and their design and experimentation activities are of the nature that is eligible for the Research & Development (“R&D”) tax credit.
**This case study is an amalgamation of CTI client success stories – based on real-life outcomes – to showcase a balanced, conservative perspective in the interest of not inflating numbers or empty promises.
Federal and state research and development (R&D) tax credits are some of the least understood tax credits on the books. Most businesses aren’t claiming their full potential – but yours shouldn’t leave this valuable tax credit on the table.
Does your organization apply for employment incentives? Are you wondering if your organization qualifies for any employment incentive programs? Companies that frequently hire new employees over the course of a tax year may be missing out on significant tax savings if they do not submit for employment tax credits. California offers businesses a number of opportunities to earn credits through the California Enterprise Zone Program, the California Competes Tax Credit and the California New Employment Tax Credit.
Many hotels are familiar with the benefits of pursuing employment-based incentives. With increasing operating costs and rising minimum wage requirements, it can be difficult to stay profitable. Participating in employment-based incentives programs help many hotels offset these growing costs so that they don’t have to compromise on quality or jeopardize the customer’s experience. You may be asking how these hotels continue to drive growth in today’s market. Here are five employment-based tax incentives tips that successful hotels are using to thrive.
Most design firms in the A&E industry are focused on form and function of the buildings they create. Within this thought process is how to design and build structures with the most energy efficiencies as possible through the utilization of the latest technologies, materials, techniques, etc.
Has your company applied for federal, state and local programs? Most likely, you have applied for federal but not one of the thousands of state and local programs that are available. These employment-based tax credits and incentives help boost economic growth by encouraging businesses to expand into designated areas and hire people with certain barriers to employment.
Sometimes, businesses and CPA firms are hesitant to cash-in on the research and development (R&D) tax credit. Why? Because the risk of aR&D information leaks or the risk associated with an IRS audit is deemed too high to be worth the reduction in tax liability.
In order to maximize your Architectural and Engineering (“A&E) firm’s Return on Investment (“ROI”); it is important to carefully review and analyze the company’s activities as it relates to the R&D tax credit. Below are some of the key activities that are eligible architecture and engineering activities that A&E firms need to be aware of when identifying and calculating their research activities and credits.
When faced with rising operating costs, what can hotels do to maintain a stable profit margin without impairing the guest experience? In various cities across the country, hotels are seeking to solve this dilemma as they are subjected to escalating minimum wage rates.