A “distressed area” will develop as markets evolve and cause companies to leave a given location. Multiple events in one city can leave desolation in its wake. The federal government and some states have developed incentive programs that offer tax credits to companies that are willing to move into these areas and create jobs. The result will take hold as people find places to live, enroll children in schools, and make purchases in the community. Over time, the entire community will recover. The term “enterprise zone” has been developed to designate areas under this federal definition.
Alliant Group works with clients that might have aspirations in these zones. Extensive research allows the client to examine the possible benefits for such a move. Tax incentives associated with enterprise zones are offered to cover moving costs, hiring expenditures, and employee retention efforts. People who remained in the enterprise zones through the desolate times will be eligible for worker training programs. Permanent jobs offer people in the community an opportunity for a better life. Schools are an essential element for the community since the young people are meant to be the next generation of employees. For this reason, opportunities to receive high-quality education are part of the foundation required to revitalize the area.
Clients in certain phases of the business life cycle can seize remarkable opportunities in “enterprise zones.” Alliant Group specialists will find out more about the local, state, and federal programs as the client begins the due diligence process. Accurate research will support the client’s decision to move one or more business functions into the “enterprise zone.” The availability of trainable employees is essential for the company’s venture, and existing employees must be willing to move and be involved in the creation of the new team. Significant research is required to allow everyone to feel that the venture is advantageous to the entirety of the company.
Clients know that the IRS is not the only taxing authority that can ruin the day by sending a tax audit letter. Alliant Group has an entire team of experienced attorneys with litigation experience and these former agents or auditors with various state departments of revenue know the intricacies of the audit process and appropriate taxpayer administrative remedies.
Clients will have different tax positions that demand sufficient and unique resources to devise an appropriate defense and Alliant Group experts will reduce the risk of potential tax liability. The business owner will sleep better at night because of the partnership between his company and Alliant Group.
- 72 attorneys
- 35 accountants
- 19 professionals with advanced degrees
- 12 engineers
- 11 software developers
- 8 MBAs
- 7 biologists
- 7 chemists
- 2 certified financial planners
This extensive team will devise an effective offensive strategy that is ready before the tax audit letter arrives. Alliant Group guides the client through the necessary due diligence activities and many different TCS services are available for the client.
- Pre-examination analysis
- Risk analysis
- Examination planning
- Audit defense
- Conference appeals representation
- Litigation support
Accountants and tax directors have more than enough work to do each day. Alliant Group is a reliable business partner with the client’s best interest at heart. Audit responses will be handled in an efficient manner while augmenting the accounting department. External CPA firms can rest assured that their clients’ audit needs will be handled professionally with the utmost privacy protection.
State audits add significant demands to the daily tasks that must be completed to generate revenue. Alliant Group experts strive to offload the audit tasks from the rest of the organization and requests for information will be organized to prevent unnecessary strain on the accountants and internal attorneys.
During various tax years, Alliant Group clients discover that business activities reduce the tax burden through other deductible activities. Tax credits can remain unclaimed at the end of the tax year if sufficient income was not earned. States and the federal government have modified the R&D tax credit programs to allow companies to utilize the tax credits from the current year on any open tax year. This method encourages innovation to continue on a consistent basis. The costs associated with time and materials used in research and development can strain the cash flow in one tax year.
The results of the R&D investment in the late months of the previous year will be realized in this tax year. Alliant Group works with clients to optimize the tax credits across various tax years. Cities and states have tax credit programs to encourage companies to move into various locations. A company could incur sufficient expenses in the move to be unable to use all of the tax credits. Some states, like Arizona, are allowing the companies to claim a tax refund for the remaining credits. This type of creative tax planning encourages companies to participate in the program every year. Continuous participation allows the companies to claim all of the available funds.
Stringent tax credit programs discourage participate that leaves millions of dollars in the programs each year. Alliant Group works with clients to ensure that more than one employee understands how to create the necessary documentation for the tax credit programs. At first, the requirements can seem daunting. The amount of money saved outweighs the investment of time in creating the documents. Companies are amazed at the improved cash flow that supports annual growth through projects and additional expertise. Many clients have realized significant financial benefits that translate into more innovation.
Millions of people work in buildings where the latest electrical contracting practices support daily activities. Alliant Group works with clients in the electrical contracting firm to claim every possible R&D tax credit. Innovation drives the improvements that become standard practices in the electrical contracting field. Every system, including HVAC, lighting and data networks, relies on the constant power supply that runs across the invisible wires. Careful monitoring of the load on the electrical system is necessary to prevent overloads. The innovation required to design and implement these massive electrical grids is costly to the firms long before the project is completed.
Every project must be planned carefully to devise roles and tasks that will qualify for tax credits. Alliant Group industry experts work closely with each client to create a plan. Team members are taught how to adjust existing practices to comply with the tax credit requirements. Documentation must be created as the work is completed to ensure that the appropriate details are gathered in a timely manner. Incomplete documents will require additional work and can result in denial of the credits. Claiming every possible credit is an important part of reducing the tax burden, which improves profit margins on every project.
Innovative approaches used in electrical systems will drive the invention of new devices that will become standard in the future. Alliant Group assists every client in the electrical contracting firm to identify innovation in every area. Too many people believe that new inventions are the only qualifying aspects of a project that could qualify. Measurable improvements can be implemented in various parts of the grid. Attempts to improve the basic processes present risk of failure. Success repays the firm in many ways, but failure can be offset through the use of tax incentives.
All buildings have a nerve system that is comprised of the electrical wires that provide power to every system. Alliant Group works with clients of every size in the electrical contracting sector to identify and claim every possible R&D tax credit. The first mention of this possibility is met with skepticism from decision makers at each firm. Devising new approaches to old problems is part of doing business for electrical contractors. The laws associated with harnessing the power of electricity are fixed. Efficiency improvements are found every year. Activities surrounding devising new approaches can qualify for R&D tax credits.
Claiming tax credits from the IRS reduces the annual tax burden and saves electrical contracting firms money on every project. Congress created R&D tax credits to encourage firms in every sector of the economy to innovate. Alliant Group has teams of industry experts who know how to optimize the percentage of tasks that will qualify under the IRS guidelines. Creating the necessary documentation is not difficult. Organizing the work must begin as the project is planned. Design activities in the electrical grid will support energy efficiency improvements in every other system in the building.
Electrical contractors devise new methods of implementing grids in the effort to create a competitive advantage. Over the years, these innovations have become the standard for all firms to follow. Alliant Group works with electrical contracting firms of every size to document and claim R&D tax credits each year. Some firms would like to claim credits from previous years, which is possible with sufficient proof. All open tax years are eligible for tax incentives from the IRS. State and local jurisdictions have begun to offer tax incentives for various activities as well. Incentives lower the tax burden for the firm, which allows companies to create more jobs.
States across the country know that tax incentives encourage private-sector entities to relocate to certain areas. Alliant Group has been working with small businesses in California to repopulate 42 enterprise zones. The state has created a series of tax incentives that will help certain communities to rebuild following the economic downturn. Companies with any interest in taking advantage of these tax incentives should contact Alliant Group for a tax credit review. As businesses move into these distressed areas, the housing market will begin to recover as a byproduct of the effort. Schools and supporting businesses, such as restaurants, will improve because of the economic activity in the area.
Some business owners assume that hiring more people is the only way to qualify for these helpful tax incentives. Nothing could be further from the truth. Alliant Group works with clients in many sectors to define employee roles that fall within the 11 categories set forth by the state of California. One employee that fits into one of these roles can provide $37,000 in tax incentives. This savings can be used however the business owner decides to, including hiring another person. California’s legislature has followed Congress’ approach of encouraging the activities that have ripple effects in the economy.
Economic recovery is driven through good jobs that are available close to home. Companies in every industry are eligible for the tax incentives devised in the California legislature. The hope is that the communities will recover from the bottom up. Alliant Group experts have real-life experience in the industries that are most likely to make the moves into the 42 enterprise zone. Companies must conduct work in one or more of the zones to qualify for the tax incentives. A phased approach allows the company to recover some tax money that can be invested in subsequent years. Everyone wins!
Construction firms are working hard to win and complete the scarce number of projects available. alliantgroup wants all constructors to know that R&D tax credit programs have been designed to encourage innovation. Many construction firms assume that their existing work would never qualify for the tax incentives. Nothing could be further from the truth. Each day, talented construction workers devise new approaches to challenges presented on the worksite. These new solutions become part of the variety of solutions used on future projects. With proper documentation, these efforts can qualify for tax credits that will save the firm thousands of dollars each year.
Inventions and new equipment that can be patented are excellent candidates for R&D tax credits. alliantgroup works with construction firms to identify the daily activities that also qualify. At the beginning of a project, the experts assist project leaders with the best way to define roles and assign qualifying tasks. Work is completed as usual, but supporting documentation is created at the same time. A small time investment throughout the project can yield significant tax savings. Reduction of the tax burden lowers the costs associated with each project.
Many construction firms have been able to survive the economic downturn through their careful use of the R&D tax incentive programs. Some states offer tax credits for construction firms, as well. alliantgroup reminds firms of all sizes that R&D tax credits are available. Cash flow is the life blood of any business, and the tax credits can provide sufficient cash for new projects in the coming tax year. Some firms have been able to review previous projects and claim additional tax credits. This approach is more challenging, but reviews of former projects are important for all construction firms. Additional savings lowers the tax burden even more.
During the first five years of a business, challenges will be encountered. alliantgroup works with businesses of all sizes to acquire R&D tax incentives that can make all the difference. As alliantgroup embraces new clients, all of them have encountered these issues at some point:
- Viable business idea – New and existing businesses are grown through the choice of innovative products and services. alliantgroup works with business professionals to secure R&D tax credits that provide valuable funding for innovation.
- Focus and perseverance – Obstacles are anticipated by most business owners, and alliantgroup comes alongside business owners to find solutions that can keep them going through the rough times.
- Sufficient capital – Private funds, angel investors and tax incentives can be gathered to grant sufficient time for the business to become profitable. alliantgroup has been working with businesses in every sector for years to find R&D tax incentives.
- Cash flow management – Expenses and taxes can overwhelm a business when income is inconsistent. When the business is conducting research to improve products and services, Alliant Group can help a business of any size to acquire access to R&D tax incentives.
- Legal structure selection – Business owners need accurate guidance through the process of deciding whether to establish a business as a corporation, LLC, partnership or sole-proprietorship. alliantgroup has seen many companies that have been strapped by the wrong selection.
- Marketing – Traditional advertising is expensive and ineffective, so business owners are wise to use social media and direct contact with customers. alliantgroup does not provide marketing consulting but knows that money saved in taxes can be used to reach new customers.
- Teambuilding – Employee selection is one of the most important activities that take place in the life of a business. Finding the right experts to drive research can make a company qualify for R&D tax credits. alliantgroup shows business decision makers how to utilize specific employees to fulfill qualifying requirements.
- Burnout avoidance – From the earliest days of the business life, owners and principals must devise sound business processes. alliantgroup is available to define qualifying improvements to processes that might allow the business to qualify for R&D tax incentives.
- Growth management – One of the best problems for any business to have is an accelerated rate of growth. These periods provide additional cash that can be invested in R&D activities that might qualify for federal R&D tax credits, and alliantgroup can assist with the qualification process.
- Exit strategy – Everyone reaches a point where business accomplishments provide the opportunity to leave the business behind. Plans must be made ahead of time to ensure that innovation will continue after the owner’s departure.
alliantgroup, the nation’s leading tax specialty services provider, is pleased to acknowledge Robert (Bob) Pratzel as one of the newest members of alliantgroup’s highly respected Strategic Advisory Board. Bob is a CPA with decades of experience in the building and design industry. He is currently the Senior Financial Advisor at leading international architecture firm, HOK Group Inc., where he previously served as the CFO and treasurer for 26 years.
alliantgroup extends exclusive invitations to business leaders, tax experts, and public policy makers who are prominent in their fields and who uphold high standards to join its best-in-class Strategic Advisory Board. “Bob exemplifies the kind of top-notch talent we have joining our Strategic Advisory Board. We are excited to have him join the alliantgroup team of credentialed professionals who care about strengthening American businesses and making a positive impact on the country,” said Dhaval Jadav, alliantgroup CEO.
alliantgroup’s Strategic Advisory board understands the importance of American innovation and advancement, as well as job creation and growth within businesses. Thus, they are able to continually demonstrate that they are dedicated to the solidification of American businesses. Bob expresses, “I admire companies who want to be actively involved in making a difference for businesses in this country.” With his extensive experience within the architecture industry, Bob Pratzel is an appreciated addition to the alliantgroup board.
For more than 10 years, alliantgroup has been providing specialty tax services to help firms in the architecture, engineering, and construction industries claim valuable tax breaks for the work they are conducting every day. Learn more about how we are helping to rebuild America at www.alliantgroup.com.
In May 2012 a number of business professionals met in New York to inform accountants about the federal and state Research and Development tax credits and incentives that are available to small and medium businesses. Sonny Grover, Senior Managing Director and Executive Vice President for alliantgroup uncovered many important facts about these credits.
- Many businesses are unaware that significant reductions in tax liabilities can be realized on daily activities.
- Small and medium businesses qualify in the same way that large corporations do; by creating documentation associated with qualifying activities and using the tax code to their advantage.
alliantgroup works with clients in many different industries to identify and organize qualifying work activities to maximize tax credits.
Dave Kotowski, President of Elevate Captives, discussed the tax advantages of insurance captives, which reduce the insurance overhead and increase cash flow for businesses.
Attendees of this three-hour seminar learned the importance of contacting alliantgroup before the project startsSpecialists at alliantgroup with practical experience will work with clients to identify work tasks that qualify for R&D tax credits.
Many attendees at the seminar were surprised to learn that their clients qualify for significant tax savings. alliantgroup meets with business owners and their CPAs who are amazed at the possible tax savings. Employees in lab coats are not the only ones who strive to improve products and processes in the quest to streamline an operation. alliantgroup consultants teach clients how to seize every possible tax credit to help their businesses remain innovative and competitive.
Contact us today at 800.564.4540 to learn how alliantgroup can assist you.