At NTC, our tax credit consulting services are tailored to minimize Federal and State tax liabilities.
We offer Federal and State tax credit processing and implementation for your company. Our services will boost your bottom line by significantly reducing the amount of Federal and State income taxes your company will owe each year by ensuring the gain on the maximum available tax credits allowed by law.
Continuous research, years of experience, and an educated understanding of the tax code equips us to assist you in reducing your federal and state tax liability. Our analysis features a compliance report to detail your eligibility status and provide valuable information to assist you in maximizing your company's credit eligibility. Since our company's inception we have not had any federal or state credits overturned.
Tax credits can be confusing as tax laws change from year to year, but you need not be overwhelmed. Contact National Tax Credit and let one of our trained professionals work with you on maximizing your tax credit opportunities.
The National Tax Credit Business Model:
There are thousands of Federal & State tax credits, green incentives and carbon credits available that could impact the amount of tax-savings a company may be eligible to receive. Some tax credits such as the Research and Development credit may ‘piggy-back’ onto others resulting in automatic eligibility into other various programs. We manage each client's tax credit portfolio so that each program is maximized.
We have developed our own internal technology to ensure the proper implementation of each client's tax credit opportunity. Our best-in-class technology system electronically captures essential tax credit data during the hiring process and tracks every credit throughout the verification process while screening for any additional tax credits that may be relevant.
NTC provides the following services:
According to the General Accounting Office, only 1 of 800 businesses claim tax credits for which the business is eligible. In the small to medium size business category (revenues not exceeding 50 million annually), $4.2 billion in federal and state level tax credits go unclaimed every year. When you turn to NTC to recover and maximize your capital, we go through an in-depth process to ensure you receive every credit you deserve.
You provide us with:
Our professional team will:
NTC owns and operates proprietary software to record and track the existing tax opportunities. Employee data, such as location, date of hire, age, veteran status, and employment industry, is used to determine tax credit eligibility. Based on the information the applicant provides when answering a small set of questions, hiring managers can immediately determine whether or not the individual qualifies for a credit, even before an offer is made.
This software-as-a-service (SaaS) application is built using the latest XML standards and integrates easily with existing applicant tracking, payroll or HRIS/HRMS systems, producing a streamlined workflow for your staff.
Billions of dollars are forfeited every year because business leaders and managers do not have the means to track, research and take advantage of the available government incentives. Our due diligence in tracking employer business incentives is focused on the following key categories:
Work Opportunity Tax Credit (WOTC)
The Work Opportunity Tax Credit is a federal hiring incentive that provides a tax credit of up to $9,600 per qualified new hire. The qualifications are based on employment/financial status criteria. Programs include new hires who have been on government assistance, veterans, ex-felons and qualified summer youth, to name only a few.
Employee FICA Tip Credits
Under IRS regulations, employers in the food and beverage industry may be eligible for a credit for social security and medicare taxes paid on their employees' tip income.
Geographic Based Credits
Periodically, the federal government designates certain economically depressed areas as tax advantage areas. If your business is located in one of these areas and you employ individuals living in the same area, you can earn credits against your federal tax liability.
For example, Empowerment Zone (EZ) credits have provided up to $3,000 per qualified employee per year. In addition, the businesses located within the zones are entitled to increased tax expensing of equipment purchases and tax incentives for environmental remediation.
The Renewal Communities (RC) credit provides up to $1,500 per qualified employee per year.
Disaster Relief Tax Credit
These credits have existed to help businesses rebuild and to help individuals rejoin the work force in the aftermath of events such as Hurricanes Katrina, Rita, Wilma and similar natural disasters. The federal government has joined with state and local governments to insure the rebuilding of infrastructures and physical facilities impacted as a result of the aforementioned disasters.
When a disaster credit is in effect, employers can earn up to $2,400 in tax credits per qualifying new employee.
Indian Employment Credit
The Indian Employment Credit provides businesses with tax credits which, unlike tax deductions, directly offset an organization's federal tax burden. This provides an incentive to hire and retain individuals who are enrolled members of an Indian tribe (or the spouse of an enrolled member) who live and work on or near an Indian Reservation.
Research and Development Credit
The Research & Development Tax Credit (R&D) offers tax incentives and expensing of costs for investments, such as research efforts of qualifying companies to develop new or improved products/processes in their businesses. This credit is not just for the more technical companies as it is often thought to be. Regulations of the IRS in December of 2003, which are retroactive, have made it easier to qualify. In addition, many states also offer R&D credits.
The 'Success-Fee' Opportunity:
On a risk-free, contingency basis, NTC will ascertain and explore all the tax credit and incentives programs that apply to your company. If there are no programs which currently apply and we are not able to retrieve tax credits for you, you owe us nothing, and you can be satisfied knowing that all due diligence has been applied and you are not missing out on tax relief to which you are entitled.
To accomplish this, we will relieve your company of administrative confusion by working with you to retrieve all the relevant documentation needed. We will take care of the applications and submissions process and we will follow up on the progress of your request.
Contact National Tax Credit today for a no-risk assessment of your company's tax credit eligibility!
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