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Incentives specifically designed to help you and your business grow.


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.

Tax Incentives vs Tax Shelters

There's one huge difference

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.

Qualifying for various tax incentives

Understand what's available to you

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.



Expiring Provisions Improvement Reform and Efficiency Act

The bill, passed on April3 2014 by the Senate Finance Committee, contains individual, family, and small business-related provisions. Included in the bill are extenders for the research and development tax credit (§41), energy efficiency deduction for commercial buildings a(§179D), energy efficient Credits for Multifamily & Residential Developers (§45L), 50% Bonus Depreciation §179 Expensing Thresholds, 15-year life for qualified property, WOTC & Empowerment Zones.

One exciting and interesting note is that the extension for the R&D Tax Credit includes a modification to allow the use of the credits against payroll taxes for qualified small businesses (less than 5 years old and less than $5,000,000 in gross receipts) as well as allowing the use of the credits against alternative minimum tax. As many will recall, the R&D credit was available to be used against AMT for one year in 2010. This current modification would have an immediate and valuable impact for small business across the US.


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The first step to growing your business is right here: