Specialty Tax Services

Cost Segregation Studies
Employment Tax Credits
Research & Experimentation Tax Credit
State & Local Business Incentives and Tax Credits
State & Local Tax Incentives

Cost Segregation Studies

A Cost Segregation Study is a process to identify personal property assets that often times get buried or lumped together within the real property asset. Our consultants reclassify those asset costs to the shortest possible depreciable life to enable the real estate owner to maximize their tax depreciation, thereby reducing current income tax obligations.

ASK FOR A TAX SAVINGS ESTIMATE

Give us the cost, use, and year of service for the facility. We have an extensive database of completed studies on which to base your estimate.

BEGIN THE STUDY

Every facility is different, but you should plan on providing some cost information, invoices and possibly architectural drawings for the building. This information is incorporated into the final report and will provide the 'Audit Trail' to substantiate our findings. Most clients spend several hours at this task and agree the results are well worth the time invested.

CONDUCTING THE STUDY

When the documents are assembled, we start the process of locating assets qualifying for shorter depreciation lives.

We visit the site to assist in asset identification and also perform authentication of our findings. Frequently we find assets that are not shown on drawings of purchased buildings and sometimes on new construction at an existing facility.
Our engineering, construction and tax specialists review the invoices and architectural drawings or site visit report in detail to determine the extent and value of them. An engineering review is performed to determine which parts of composite systems are attributable to either “Building” or “Process” assets.
The Cost Segregation CPA then reviews and classifies the assets as they pertain to the facility's use based on numerous IRS rulings and pronouncements, and cites the rulings that apply.
A report is then generated with our findings and forms are completed for tax filing. And finally, the report is delivered and reviewed with you.
Implementing the results may require a few additional hours at filing time; however, the savings will more than offset the time needed.

Substantial tax deductions are possible through a Cost Segregation Study. Contact Michael Schweller.

Employment Tax Credits... Increasing Your Bottom Line

Has Your Business Received or Maximized Its Federal Tax Employment Credit Opportunities?

Most federal tax credits available to businesses go unclaimed due to the cost, complexity and time intensive nature of their administration. The potential dollars saved simply do not justify the risks of undertaking the laborious effort involved. But what if your business could outsource the calculation and administration of these federal credits?

How Does A Business Establish Its Credit?

A strategic partnership with us allows your company to take advantage of our alliance partner's technology and its processing center's years of experience. We work on a contingent fee basis, meaning that your business must recognize savings from our services, or we do not get paid. Therefore, there is virtually no financial risk to your business. The following represents only a few of the many sources of unclaimed dollars available to businesses:

The Work Opportunity Tax Credit (up to $2,400 for each qualified new hire from any one of the following groups):
- A family member that is a Qualified Food Stamp Recipient
- A family member that is a Qualified Aid to Families with Dependent Children Recipient
- Qualified Veterans
- Qualified Ex-Felons, pardoned, paroled or work release individuals
- Vocational Rehabilitation Referrals
- Qualified Summer Youths
- Qualified Supplemental Security Income (SSI) Recipients
- Qualified individuals living within an Empowerment Zone or Enterprise Community
The Welfare–to–Work Tax Credit (up to $8,500 for each long-term welfare recipient you hire)
The Empowerment Zone Tax Credit (up to $3,000 for each employee living and providing services in an Empowerment Zone)
The Renewal Community Tax Credit (up to $1,500 for each newly hired or existing employee who lives and works in the Renewal Community)

Utilizing our strategic partnership will allow companies to take advantage of these federal tax savings. The administrative process involved is facilitated with these programs at no risk to interested businesses.

Contact Susan Bridgman, Esq. to find out if your business qualifies for the Federal Tax Credits.

Research & Experimentation Tax Credit

Has Your Business Received or Maximized Its Research and Experimentation Tax Credit Opportunities?

Brady Ware's seasoned tax team has significant experience in reviewing the activities of your business which qualify for Research and Experimentation Tax Credit (Credit). This Credit is NOT a deduction. Instead the Credit is used as an actual reduction of your income tax liability. Our review will ensure that your business has received its share of this valuable Credit giving your business a competitive advantage.

How Does A Business Establish Its Credit?

Through a proven process, Brady Ware's tax team will review all aspects of your business in order to determine which activities qualify for the Credit. We can assist your business in either applying for the Credit for the first time or maximizing the Credit your business is already receiving.

What Costs Qualify For The Credit?

The Federal Government and many State tax authorities have provided a Credit for businesses who invest in research and experimentation. The definition of costs qualifying for the Credit is different than what many businesses view as customary research and development activities. Creating new products, developing process changes, implementing new manufacturing methods are common credit activities.

Brady Ware's tax team will work with you to develop a customized approach to your Credit study. Examples of our Credit services include:

Complete Credit Study
Update Current Year Credit Activities
Review Prior Year Credit Calculations
Planning For Use of Future Credits

Many common business innovations meet the qualification standards and are eligible for the Research and Experimentation Tax Credit. Brady Ware's tax professionals have helped many other businesses like yours in calculating their Credit.

Find out if your business qualifies for the Research and Experimentation Tax Credit. Contact Brian Carr.

State & Local Business Incentives and Tax Credits

Has Your Business Received or Maximized Its State & Local Tax Incentive and Credit Opportunities?

Many of the available state and local tax incentives and credits go unclaimed or underutilized. The most common reasons why this happens are the complexity and time involved to calculate and administer the credits or the fact that many companies do not have the time to research what incentives and credits are available.

How Can Your Business Take Advantage of The Available Incentives and Credits?

Each business is different, but almost every one can qualify for some state and local tax incentives and credits. By working with you, we can develop a plan to maximize your business' state and local tax incentives and credits. We work on a contingent fee basis, meaning that your business must recognize savings from our services, or you do not owe us anything.

What Types of Incentives and Credits Are Available?

The following represents several of the state and local incentives and credits available:

Income and Franchise Tax:

Training Grants and Credits
Machinery and Equipment Investment Tax Credits
Job Creation Tax Credits
Research and Development Credits

Property Tax:

Real and Personal Property Tax Abatements
Tax Incremental Financing Programs
Inventory Tax Exemptions

Sales and Use Tax:

Research and Development Exemption
Warehouse Machinery Exemption
Pollution Control Equipment Exemption

Find out if your business qualifies for state & local incentives and credits. Contact us today at (937) 223-5247.

State & Local Tax Incentives

In today's challenging economic times, many companies are looking to reduce expenses and cut costs. With downsizing and the pressure to do more with less, many companies do not have adequate time or the expertise on staff to dedicate to reducing their state and local tax burden.

In addition, while companies are downsizing, state tax departments are increasing their staff of auditors in search of additional tax revenues. We have the expertise to assist your business in minimizing your state tax burden.

Tax Solutions Tailored to Your Business

All businesses are unique and we review all aspects of your company in order to tailor a state tax minimization plan that fits your needs. We deal with hundreds of middle-market businesses that are often under-served when it comes to state and local tax expertise. We can provide:

Refund and Overpayment Studies – Including income, franchise, personal property and sales taxes
Credits and Incentives – Negotiating incentives, assisting in financing with expansions and training costs and applying for credits
Consulting – Business planning, entity structuring, filing options, inventory valuation and taxability determinations
Tax Research and Audit Defense – Research exemptions, relevant court cases, nexus studies, voluntary compliance agreements and audit defense and representation
Co-Sourcing and State Tax Compliance – We will co-source with you to supplement your current tax staff and assist with state tax compliance for income and personal property taxes.

Providing the Resources

By partnering with Brady Ware, you can have experienced state tax professionals provide support to your business, validate what you are currently doing or planning to do, keep up with constant changes in state tax laws, and to minimize your overall state tax expenses.