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Specialized Tax Savings

 

WOTC Hiring Incentives  

“Simply put, WOTC reduces an employers cost of doing business and turns Human Resources into a Profit Center.”

WOTC stands for the “Work Opportunity Tax Credit” and is not one but several tax credits given to employers at the Federal level for hiring qualified employees. Annually employers claim over $1 Billion in tax credits under this program. There is no minimum number of hired employees required for an employer to qualify for this tax credit.  The success and growth of this income tax credit for business is beneficial for all who participate, while increasing America’s economic growth and productivity.

The average WOTC benefit per qualified employee is $2400 and can be as much as $9600. That means potentially 10 qualified employees could yield a Federal Income Tax credit between $24,000 and $96,000.  Additionally WOTC credits may be carried back one year and carried forward 20 years.

Using a simple three step process using proprietary software, we then submit all required paperwork to the State, providing real time updates throughout the Tax Credit process.  Your HR department can now effectively become a Profit Center.

Property Tax Mitigation  

“Taxes on Business Property make up $215 Billion of the $597 Billion in total annual local and state business taxes paid.”

Outside of income taxes, the single largest recurring charge for commercial property owners are property taxes.  In most states, owners are required to pay taxes on both their real estate as well as their personal property. These charges are often an immense expense and a constant hit to the bottom line.  To be ensured you are not being overcharged on your property taxes, an industry specialist with extensive market experience in valuation, tax and law should be retained.

Our experienced team of professionals in mitigation, valuation, assessments and law will work on your case to identify any potential opportunity for refunds and/or reductions in your current property taxes. We perform all the work on your behalf until savings are captured, including partaking in hearings and filing necessary paperwork. We act as an extension of your company toward the governing property tax bodies.

The immediate benefit is the reduction of taxes owed and the potential of refunds on prior taxes paid. The future benefits similarly would be a reduced tax burden going forward, producing an increased cash flow for the business.

Cost Segregation  

“Cost Segregation studies should be performed by qualified individuals or firms such as those employing personnel competent in design, construction, auditing and estimating procedures relating to building construction.”  U.S. Internal Revenue Service

Engineering-based Cost Segregation Studies permit commercial real estate owners to reclassify real property for depreciation purposes as more rapidly depreciating personal property.  This reclassification results in significant cash flow benefits in both present and future years through considerably shorter depreciable tax life and accelerated depreciation methods.