Unlocking Possibilities Harnessing the power of tax credits and incentives with Scott Willis

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Webinar Summary

This webinar, led by Scott Willis from Engineer Tax Services, delves into the myriad of tax credits and incentives available to businesses, with a focus on real estate investors. It covers a range of topics including cost segregation, bonus depreciation, energy tax credits, and more advanced tax strategies like R&D tax credits and opportunity zones. The session aims to equip participants with knowledge on how to leverage these tax tools to enhance their investments and overall business growth.

High-Level Overview

The webinar provides an in-depth look at various IRS-approved tax strategies that can significantly benefit business owners and real estate investors. Key areas of focus include the intricacies of cost segregation studies, the impact of bonus depreciation, and the advantages of energy tax credits. Additionally, it touches on more complex strategies such as R&D tax credits, employee retention credits, and leveraging opportunity zones for tax advantages. The presentation is designed to make these concepts accessible to a wider audience, including smaller investors and midsize companies.

Key Highlights

  • Introduction to cost segregation and its benefits for accelerating depreciation.
  • Discussion on bonus depreciation and its phased reduction starting from 2023.
  • Insights into capital expenditure improvements, asset disposition, and how to maximize tax benefits from these activities.
  • Overview of energy tax credits (Section 179D and 45L) for energy-efficient buildings and how they apply to new constructions, renovations, and residential properties.
  • Exploration of advanced tax strategies including R&D tax credits, employee retention credits, 1031 exchanges, solar and historic tax credits, and opportunity zones.
  • Practical advice on leveraging these tax incentives for business growth and increased ROI.
  • Q&A session addressing specific queries about depreciation recapture and the application of state and federal solar credits.

The webinar underscores the importance of staying informed about the latest tax laws and utilizing available tax strategies to optimize business performance. Scott Willis emphasizes the role of Engineer Tax Services in helping clients navigate these complex areas to achieve significant financial benefits.