What is a Specialty Tax Study?

Did you know that a specialty tax study could bring you a multitude of tax savings? You may be missing out if you do not know what a specialty tax study is. At Engineered Tax Services, our tax experts help companies take advantage of many incentives and tax credits that are available to the federal and state government.

A Specialty Tax Study Includes:

  • Cost Segregation Studies
  • R&D Tax Credit Studies
  • Manufacturing Tax Credits
  • Energy Tax Credits
  • Section 179D and bonus depreciation

What is a Cost Segregation Study and How Can It Help You?

A cost segregation study can maximize your tax return on real estate investments. You can generate more cash flow savings with a cost segregation study as well. As a property owner, your holdings represent a significant investment. With the help of a cost segregation study, you can maximize your property’s capital return by carving out assets that are shorter lived. That means these assets qualify for 5, 7, or 15-year write-off periods. They are normally embedded in the property’s acquisition or construction costs and depreciated over 39-years.

It is generally effective to reclassify your assets if your property is valued at $1 million or more. For example, every $1 million dollars that you reclassify, your approximate tax savings would be $230,000.

How Can A R&D Tax Credit Study Benefit You?

Many companies are not aware that the R&D tax credit is beneficial to them. However, you should note that if you are developing a new or improved product, engaging in engineering, architectural, etc. services, creating software, you may qualify for the R&D tax credit. The R&D tax credit was first enacted by Congress in 1981. Since then, businesses of all sizes can qualify for it. Engineered Tax Services R&D tax experts can help to analyze your company’s R&D operations to determine if you are eligible.

Why Should You Choose Engineered Tax Services?

Engineered Tax Services tax attorneys, engineers, and scientists are the leading experts that have performed thousands of these tax services over the past decade. Through these services, Engineered Tax Services has generated millions of dollars in the United States stimulus that has impacted millions of jobs in our country.

CEO and tax expert, Julio Gonzalez recently worked in Washington D.C. with our country’s Senate, Congress, Administration, and Treasury to play an instrumental role in passing 2017’s tax reform with a focus on small business growth.

For more information on how specialty tax studies can benefit you, please call (800) 236-6519.

Author

Engineered Tax Services

Engineered Tax Services

Recent Posts

Establishing Your Accounting Firm On Social Media

Establishing your accounting firm’s voice on social media should be a top priority. If your firm doesn’t have a brand guide that includes its tone of voice, now is the perfect time to create one. It doesn’t have to be a full-blown brand guide⁠—just something that helps to establish and maintain a consistent brand voice.

Read More »
employee retention tax credit scams

How to avoid employee retention tax credit scams

A survey by the National Federation of Independent Business (NFIB) found that only 4% of small business owners are “very familiar” with the Employee Retention Tax Credit program. Furthermore, only 32% said they were “somewhat familiar” with the incentive. Scammers are taking advantage of this unfamiliarity to collect high fees from business owners. Unscrupulous companies

Read More »
accounting firms

Tips for Accounting Firms looking to get started on Social Media

Getting started on social media can be confusing and hard to understand. Especially for accounting firms that keep putting it off. Yet it truly is not as bad as it seems. Trust me. I manage over 20 social accounts, many of which I created from scratch. With the busy season behind us, now is the

Read More »

Contact Us