What's A Tax Incentive?

Every developed country in the world puts together tax incentives aimed atacena-can-help-maximize-your-tax-incentives driving tax revenues, growing employment, and spurring economic growth.

These incentives are designed to be used by taxpayers (sadly, many never get used) and typically provide lower taxes, grants, subsidies or other incentives that will be used by the taxpayer to hire more employees, invest in capital equipment or otherwise grow their business thus helping to grow the economy.

Need information on specific tax incentives? Simply click on your tax incentive below!

What are Research & Development Tax Credits?

What is an IC DISC and how does it help if I provide goods and services outside the United States?

How does Cost Segregation help lower my taxes?

What is the Telephone Excise Tax Refund Program?

Are there other tax incentives that I should be familiar with?

How are tax incentives different than tax shelters?

A tax shelter is best defined as an illegal or questionable structure designed to reduce tax. While legal tax shelters do exist (IRAs and limited partnerships are good examples), most people identify the term "tax shelter" with illegal activity. A tax incentive is not considered a tax shelter because it is an aspect of the tax code designed to incentivize or encourage certain behavior.

How can I tell if I qualify for various tax incentives?

Your CPA should have a general idea of the types of tax incentives that would apply to your business or industry. Part of their role as your trusted business advisor is to bring to your attention those incentives (at both a federal and state level) that may apply to you.

At the same time, having an understanding of the types of incentives available and the industries that use them should be primary to your business growth strategy.

Industry groups or trade associations are other great sources for tax laws specific to companies in your industry and may have literature available for your review.

If I do find incentives I want to explore further, how do I find information?

You have already found our website and that's a great start. Acena Consulting focuses on educating companies on various tax incentives and helping them understand whether or not they may have tax savings waiting to be harvested. We have developed a tax incentives scorecard that goes through a list of questions to assess whether or not your company may qualify for a number of federal tax incentives. In addition, we have a dynamic information pool growing daily with information on a lot of different incentives.