Tax Incentives Blog

Elephant in the Room: IRS Addresses WOTC Certification Delays

Written by Ted Marquardt. Updated Jan 15, 2019.

There it is. Slowly lumbering around…back and forth. Everyone is keenly aware of its presence. In fact, it cannot be ignored. An immovable obstacle…a disconcerting distraction of mammoth proportions. With it comes a sense of helplessness, as your business and thousands more like it across the country are faced with the five-ton frustration of certification delays for the WOTC (Work Opportunity Tax Credit), and the burden of amended return filings.

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You Complete Me: CPA Firms Partner with Tax Consultants to Attract Business

Written by Darren Labrie. Updated Jan 9, 2019.

There is no shortage of famous movie quotes in the lexicon of pop culture, and the phrase “You complete me” uttered by Tom Cruise in the film Jerry Maguire certainly belongs somewhere at the top of the list. While expressed with complete sincerity in the film to his love interest, the phrase has enjoyed longevity having been oft quoted, sometimes as a comedic device, such as in the film Austin Powers and the TV show The Office, and in the deranged rantings of the villainous Joker in the Batman film The Dark Knight.

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No Excuses this New Year…Resolve to Claim the Manufacturing R&D Credits You Deserve

Written by Ted Marquardt. Updated Jan 5, 2019.

2018 has come to a close, and we’ve just rung in the new year, celebrating our most recent 365-day trip around the Sun with our family and friends, party hats, and noise-makers. With the new year, many people engage in retrospection, re-evaluating some life choices and declaring New Year’s resolutions to change an undesired trait or behavior, to accomplish a personal goal, or otherwise improve their life. Diet, exercise, learning a new skill…these are some of the many self-improvement endeavors that we will pursue.

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Arizona R&D Tax Program: Savings Easier to Claim than Hiking the Grand Canyon

Written by Mark Echols. Updated Dec 18, 2018.

Being one of the Seven Natural Wonders of the World, Arizona’s Grand Canyon National Park is a breathtaking and humbling vision to behold. But to fully appreciate its wonder, hiking down into the canyon is a must.  With dozens of trails available to visitors, hiking the canyon is a popular activity. However, despite all its beauty, taking to the trails that snake down along the walls of the Grand Canyon can be a demanding, even treacherous endeavor.

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You Don’t Need a Time Machine to Claim R&D Credits

Written by Mark Echols. Updated Nov 27, 2018.

The Federal Credit for Increasing Research Activities (“R&D”) tax credit has been available to companies since 1981, but the complex computational rules surrounding the credit have traditionally been a hurdle for companies to claim the benefit.

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Employment Incentives: The Gravy To Your Turkey This Season

Written by Stephanie Cornejo Banuelos. Updated Nov 13, 2018.

Thanksgiving will soon be here, a time for family and friends to gather around the dining room table and show appreciation for each other while celebrating with a bountiful turkey dinner and all the trimmings. And with this tradition, there is a phrase that many will hear drifting across the table…"Please pass the gravy.” As if the turkey, mashed potatoes, and stuffing aren’t enough for a succulent feast, here comes the gravy, a delicious, mouth-watering reward resulting from hours of toil preparing the feast.

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Making A Move To CTI – R&D Success Story

Written by Mark Echols. Updated Oct 24, 2018.

Client Profile:

Industry: 

Internet Security Software

Previous R&D Provider: 

None (completed internal)

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State Incentive Spotlight: Georgia Investment Tax Credit

Written by Stephanie Cornejo Banuelos. Updated Oct 13, 2018.

The Georgia Investment tax credit is designed to service two specific industries; Manufacturing and Telecommunications.  The intent is to help these industries grow by making it more affordable to expand and improve facilities. Investment tax credits can be used to offset up to 50 percent of a company’s Georgia corporate income tax liability. If the earned credit exceeds that limit, then the unused credit can be carried forward up to 10 years and applied to future years’ tax liability. Taxpayers generally claim one of the three Georgia credits for the same project and/or jobs. The credits available are (1) the Investment Tax Credit, (2) the Job Tax Credit, and (3) the Quality Job Tax Credit.

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Can Agriculture Costs Qualify for the R&D Tax Credit?

Written by Mark Echols. Updated Sep 27, 2018.

According to the U.S. Department of Agriculture, U.S. companies produce over $300 billion of agriculture products annually.  Many of these companies are not aware that their research and experimentation activities and related expenses to develop these new or improved products might be eligible for valuable federal and state research and development (R&D) tax credits. For many U.S. agriculture companies, the R&D tax credit can significantly reduce their income tax liability and increase much needed cash flow into their businesses.  Below is a case study of a taxpayer in the agriculture business who was able to utilize hundreds of thousands of dollars of R&D tax credits by identifying and documenting their R&D activities.

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Making A Move To CTI – WOTC Success Story

Written by Stephanie Cornejo Banuelos. Updated Sep 11, 2018.

Client Profile:

Industry: 

Mobile Auto Repair

Previous WOTC provider: 

National Payroll Company

Number of Annual Hires: 

2,800



Current WOTC Performance:

  • 97% Screening Compliance
  • $34,000 Annual WOTC
  • 12% Qualification Rate
  • $12 Average Credit per Hire
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