Webinar Summary
This webinar, part of the “Unlocking Possibilities” series, focuses on practical strategies for businesses to navigate through tough economic conditions by leveraging often overlooked tax incentives and strategies. Presented by Dave Mitchell from Engineered Advisory, the session covers a range of topics including cost segregation, tax deductions, employee retention credits, and more, aimed at helping businesses grow by maximizing available financial opportunities.
High-Level Overview
The webinar delves into various tax incentives and strategies that businesses can utilize to foster growth and success. It highlights the importance of cost segregation studies for real estate depreciation, the benefits of the 179D energy incentive for energy-efficient buildings, and how businesses can capitalize on employee-related incentives like the Research and Development (R&D) Tax Credit and the Employee Retention Tax Credit (ERTC). The presentation also touches on grants and other tax minimization strategies to aid businesses in reducing their tax liabilities and reinvesting in their growth.
Key Highlights
- Introduction to Engineered Advisory and its services in specialty tax incentives and CPA firm support.
- Detailed explanation of cost segregation and its benefits for property owners, including accelerated depreciation and bonus depreciation under the Tax Cuts and Jobs Act of 2017.
- Overview of the 179D energy incentive for energy-efficient commercial buildings, including changes under the Inflation Reduction Act.
- Insights into property tax appeals and the potential for overpayment due to inaccurate assessments.
- Explanation of the Research and Development (R&D) Tax Credit, including eligibility criteria and qualifying activities.
- Details on the Employee Retention Tax Credit (ERTC) as part of the CARES Act, including eligibility criteria for 2020 and 2021.
- Introduction to the Work Opportunity Tax Credit (WOTC) aimed at encouraging the employment of individuals facing employment barriers.
- Discussion on IC-DISC benefits for companies exporting goods outside the U.S. and how it can lead to tax savings.
- Information on grants as a source of funding for projects that create social and public value.
- Q&A session addressing specific queries from attendees about cost segregation, ERTC, and other tax strategies.