Tax Credit/Incentives Programs

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
Employee FICA Tip Credits
Geographic Based Credits
Disaster Relief Tax Credit
Indian Employment Credit
Research and Development Credit
Cost Segregation
State Tax and Incentive Credits
Green & Environmental Tax Credits

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.

Contact us today for to learn the full details of your risk-free analysis >>

Your '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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