Our Tax Credit Services.
Federal Empowerment Zone Tax Credit Services.
Tax savings of up to $3,000 are available for each employee who works at a business in a designated zone and resides in the same zone.
The U.S. Department of Housing and Urban Development’s empowerment zone and renewal community programs were initiated in 1994 with many U.S. cities now participating in these programs. These programs ease the tax burden of businesses that operate within these designated areas and employ zone residents. The initiative was launched to create jobs and induce commercial investment in distressed communities.
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Tax credits are based on 20% of the first $15,000 in wages paid to “qualified” empowerment zone employees.
Tax credits can be claimed on the same individual each year.
Tax credits can be claimed retroactively for the previous three years and produce tax refunds.
Tax credits can be used to reduce alternative minimum tax.
Tax credits carry forward for twenty years.
Long-Term Family Assistance Recipient Tax Credit Services.
Whether it’s claiming tax credits for the first time or looking for better results on your current initiatives, Tax Incentive Group has the knowledge and experience to identify and substantiate the credits most valuable to your specific business.
This target group provides businesses with an incentive to hire long-term family assistance recipients.
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- Tax credits are based on 40% of the first $10,000 in wages paid to “certified” employees during their first year of employment and 50% of the first $10,000 in wages during their second year of employment.
- Tax credits carry forward for twenty years.
FICA Tips Tax Credit Services.
The FICA Tip Tax Credit is the tax incentive that most restaurant owners are due, but aren’t using. Learn more about the benefits of the Tax Incentive Group – making tax incentives easy & saving money.
To qualify for this credit a company must have employees who receive tips from customers for providing, delivering or serving food or beverages for consumption if tipping of employees is customary and the business incurred social security and Medicare taxes on those tips.
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Tax credits are based on 7.65% of reported tips exceeding the minimum wage requirement.
Tax credits can be claimed retroactively for the previous three years and produce tax refunds.
Tax credits carry forward for twenty years.
Restaurants, hotels and nightclubs are the largest beneficiary of this credit.
State Tax Credit Services.
Whether it’s claiming tax credits for the first time or looking for better results on your current initiatives, Tax Incentive Group has the knowledge and experience to identify and substantiate the credits most valuable to your specific business.
State tax credits vary from state to state. Virtually every state has incentives for businesses who create jobs, make capital investments, operate or expand within economic development zones or enterprise communities and improve their workforce through training or educational programs.
Indian Employment Tax Credit Services.
Providing a credit against your federal income tax up to $4,000 annually per qualified employee, the Indian Employment Credit incentivizes businesses located on an Indian reservation to employ tribal members.
The Indian employment credit provides businesses with an incentive to hire and retain individuals that are members or a spouse of a member of an Indian tribe who live on or near an Indian reservation. The majority of the services provided by that business must take place on the reservation.
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Tax credits are based on 20% of the first $20,000 in wages paid to a “qualified” employee.
Tax credits can be claimed on the same individual each year.
Tax credits can be claimed retroactively for the previous three years and produce tax refunds.
Tax credits can be used to reduce alternative minimum tax.
Tax credits carry forward for twenty years.
Tax Incentive Group Reviews.
“Since we have engaged your services we are very satisfied with the service and the results. The tax savings we have realized has been significant.
Tax Incentive Group’s ability to identify our empowerment zone Locations has proved very beneficial to our organization. The tax savings exceeded our expectations. Additionally, the screening of our new hires for the WOTC tax credit program provides additional savings. The customized forms you provide to our human resources department makes the process efficient with a minimal amount of time. We appreciate your company’s professional approach.”
“I am writing this letter to let you know that our company has benefited from your services. Our time spent in sending you the information is minimal, yet each year we have received substantial savings on our taxes. I believe the decision to go with your company was a wise one.
I would highly recommend your company to anyone interested in potential tax savings.”
“On behalf of our operating companies, I wanted to express our sincere appreciation to you for the excellent business partnership we have developed over these past two years. Working effectively with Tax Incentive Group, we have created and implemented an excellent opportunity to enhance our bottom line profitability.
We appreciate your skilled efforts on our behalf, and look forward to working with you in the future,”