Specialized Tax Incentives
When looking at the huge range of Specialized Tax Incentives we analyze for you, our proprietary software helps identify local, state, and federal tax incentives available for your business. On average, for a small to mid size company, we are able to identify over $200k.
Corporate Expense Reductions
Our 11 point expense analysis identifies overcharges and billing errors in key expense areas such as Credit Card Merchant Processing, Parcel Shipping, Waste and Recycling, Property Taxes, and Workers Compensation Premiums.
Property Tax Mitigation
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.
WOTC stands for the Work Opportunity Tax Credit and is not one but several tax credits given to employers at a Federal level for hiring qualified employees. Annually employers claim over $1 billion in tax credits under this program. There is no limit on the number of individuals an employer can hire to qualify to claim the tax credit. The success and growth of this income tax credit for business is beneficial for all who participate, while increasing Americaâs economic growth and productivity.
Engineering based cost segregation studies permit commercial real estate owners to reclassify real property for depreciation purposes and reclassify it 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.
R&D Tax Credit
The Manufacturing Incentives benefit is a Federal program designed for Companies that perform Manufacturing in the U.S. This program is listed under Section 41 or the IRC (Internal Revenue Code) and continues to be amended on an annual basis as the U.S. Manufacturing landscape continues to evolve. This is an engineered based program that focuses on a companyâs operations and processes in order to determine their qualification for incentives. The Manufacturing Incentives benefit provides an avenue to receive âtax moneyâ back from prior years while also reducing current taxable income on a dollar-for-dollar basis.
We realized a considerable savings that wouldâve otherwise gone to the IRS. We now understand why you are the leader in Cost Allocation Studies.
Our accountant told us about this opportunity after we did our remodel but indicated that the cost could possibly outweigh the benefits. After having our plan done by GMG and utilizing it in our tax preparation our accountant tells us that it was a very good investment that will recoup itself many times over in the years to come.
- Integrated Solution
WeÂ provide our clients with the highest industry-recognized level of service inÂ a SINGLEÂ solution to capture the broadest possible range of federal, state and local tax credits and incentives.
We structured our organization and processes to meet all of the challenges commonly experienced by companies attempting to capture financial savings and reinvest in their businesses, with a focus on each clientâs specific industry, circumstances and goals.
Throughout each project, our team works side by side with our clients, CPAs, and accounting staff to ensure a smooth integration of these efforts to capture lucrative tax credits.
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