The Specialty Tax Credit Equation – Past, Present and Future

Are you getting yours?

After observing hundreds of mid-size companies I’ve noticed they ALL have one important thing in common – they do not use all the tax credits and tax savings strategies they could.

In 100% of the cases, each company, including those that owed no income tax, was missing at least one significant tax savings opportunity.

Specialty Tax Credits come in all shapes and sizes. Various federal, state, and local credits make it possible to save on income tax, sales tax, property tax, utility tax, and payroll tax and most recently, the healthcare premium tax.

Intelligent CFOs, CPAs, and VP’s of Taxation in companies that are eligible for tax savings, either don’t know these tax savings exist, don’t think they qualify for them or just aren’t taking full advantage of these credits to the extent that they could.


So what are “Specialty Tax Credits”?

Specialty tax credits are incentives to businesses for doing certain things that result in outcomes the entity sponsoring them is interested in promoting.


  1. What’s in Your Rearview Mirror?

You may be surprised to learn that there are credits your company is eligible for that can still be claimed retroactively! Whether you had just neglected to file for them or were unaware they existed, this can bring unexpected money right to a company’s line.  Specialty tax professionals such as DCI can do tax credit reviews to see what unclaimed dollars are just waiting for you.


  1. The Power of Now

Many, if not most tax credits have specific time restrictions that will expire if you don’t claim them in time.  It’s always interesting how many companies don’t realize they qualify for certain credits!  In some cases, the incentives are offered as a competition or as a negotiation, so knowing about them, understanding if you are eligible, meeting the deadline AND preparing your application so that your company wins can be daunting.  That is why bringing in a specialist not only helps your company compete to win, but will also make sure you receive the highest award you are eligible for.

  1. A Look to The Future

Knowing what specialty tax credits are available now is just a first step.  Many are designed to make sure that companies continue to produce the desired outcomes they are being incentivized for and are structured for payouts over a determined time-period. In other cases, understanding what entities at the federal, state and local levels may be planning for can put your company on track to claim new specialty credits as they become available!


Ready to Cash In?

With so many unique opportunities for specialty tax credits across so many areas, where does a company begin?  Many professional services organizations specialize in one or two of these credits, or only work in a particular geographical area.  In order to provide a comprehensive offering, DCI Solutions put together a large team of experts with experience across a broad spectrum of specialty tax incentives at the federal, state and local level so that companies just need to make one call.  To get an idea of what this can mean for your business – past, present and future – feel free to call DCI.  Usually the first meeting of our engagement includes the identification of at least one significant tax savings opportunity the client can take advantage of.

Your company works too hard to be paying more in tax than you need to. Why give the government what you could be saving for your shareholders?.  Because the nature of some credits is so specialized it makes sense to invite an outside tax specialty firm to show you what you and your tax preparers the specific gains you’ll receive from a tax credit review.,  (888) 395-0809

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