Tax Credits & Incentives
Kaufman Rossin’s tax experts can help businesses take advantage of many tax credits and incentives that are available through the state and federal government, including:
- R&D tax credit
- Reverse sales tax audit
- Cost segregation study
- Manufacturing tax credits
- Energy tax credits
- Section 179 deduction and bonus depreciation
Contact your Kaufman Rossin tax professional to learn how your organization can benefit from these and other specialty tax credits and incentives.
R&D tax credit
Many companies think the R&D tax credit doesn’t apply to them. Often, we show how it does.
If you’re developing a new or improved product, creating software, engaging in engineering, architecture, scientific or technical services, you may qualify for the Federal Research Credit. Commonly referred to as the R&D credit, this tax credit was first enacted by Congress in 1981, and businesses of all sizes – particularly in the healthcare, technology, manufacturing and construction industries – can qualify. Kaufman Rossin’s R&D tax experts can analyze your organization’s research and development operations to determine if you are eligible and help you capture valuable research credits.
Reverse sales tax audit
Did your business overpay sales tax last year? Are you sure?
Kaufman Rossin’s state and local tax specialists can conduct a sales and use tax “reverse audit” to help businesses recoup erroneously paid taxes. We analyze your payments and see whether you have a refund due from the state. We look at your fixed asset and consumable purchases over the past three years, and often find vendor overcharges of sales tax, or sales/use tax paid on exempt transactions.
- We recovered approximately $130,000 in overcharged sales tax for a South Florida resort hotel.
- We recovered approximately $250,000 in overpaid sales/use tax for a Central Florida manufacturing company.
The best part: You only pay if we succeed. We perform reverse audits on contingency fee basis, so there is no cost to you unless we find an overpayment and get your money back, in which case the fee is a percentage of your refund.
Cost segregation study
Maximize your return on your real estate investments.
Your real estate holdings represent a significant capital investment. Through cost segregation, we can maximize your real property’s financial return by carving out shorter-lived assets (qualifying for five, seven or 15 year write-off periods) that are normally imbedded in a building’s construction or acquisition costs and thus generally depreciated over 39 years.
Reclassifying your assets is generally most effective for property valued at $1 million or more. For every million dollars you reclassify, the present value of your increased cash flow from income tax savings approximates $230,000.