Overlooked by a staggering 90 percent of businesses, a wide variety of state and federal employer hiring and equipment credits go unused every year. Tax credits such as these can effectively offset minimum wage and workers’ compensation increases, health care costs and a host of other financial burdens. Taking advantage of these credits effectively allows business owners to increase net profits, cash flow and earnings per share. This In the Know podcast will teach listeners how to reap these rewards by providing an overview of available programs and discussing the tools and procedures for documenting valuable tax breaks.
A variety of tax credits are available to the 20 percent of businesses nationwide that have facilities located in a state or federal enterprise, empowerment or golf opportunity zone, renewal or rural renewal community, or Indian tribal land. This is not to mention the additional benefits available under the federal Work Opportunity Tax Credit (WOTC) program, which offers hospitality companies tax breaks that are seldom less than $100,000 and mid-sized restaurant chain breaks that routinely exceed $1 million.
Episode host Blake Christian, CPA is a tax partner with the Los Angles-based CPA firm Holthouse, Carlin & Van Tright, LLP (www.hcvt.com) and co-founder of the National Tax Credit Group (NTCG – www.ntcgtax.com). Listeners can obtain a free 30-day trial of NTCG’s Tax Zone Locator software, which screens any address in the country to immediately determine whether the location is eligible for federal or state tax benefits.
For more information, please contact Blake Christian at 562.216.1800.