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What are specialty tax engineering services?


If you are a normal person like me, understanding the tax code and specialty tax services can be extremely confusing. It seems like they are always changing and it’s very hard to keep up, especially if you own your own business. In my opinion, it is pretty easy to mess up when it comes to tax efficiencies, credits, and incentives, and if you are not careful, you could end up in a lot of trouble. This is why I think it is very important to look into professional services from a company such as Engineered Tax Services. Let me explain a few of their services:

 

Cost Segregation
Cost Segregation is a tax strategy helps property owners lower their tax liability by accelerating the depreciation on fixed assets. A next-generation cost segregation study should uncover potential tax savings and increase cash flow through reclassification and depreciation of property. But, you need to look beyond accelerated assets. You can and should also look into separate building systems, tax incentives for energy efficiency, and accounting for repair and maintenance costs.

R&D Tax Credits
The Research and Development (R&D) Tax Credit is useful for architects, engineers, food processors, the brewing industry, and more. The R&D Tax Credit has been around since 1981, but it has changed quite a bit. The research and development tax credit is a permanent federal tax incentive meant to stimulate innovation, technical design, and manufacturing within the United States. Since 2003, companies are now able to use the credit even if the product or process that they are using is new to them, not to the entire industry. According to Engineered Tax Services, “Less than a third of the companies that qualify for the R&D tax credit utilize it. Also, many of the companies that are taking the credit are not claiming all of the credits to which they are entitled. The R&D Tax Credit is one of the most significant tax incentives remaining under current tax law – a substantial tool for maximizing a company's cash flow and bottom line.”

179D EPAct Tax Deduction
According to Energy.gov, “The 179D commercial buildings energy efficiency tax deduction primarily enables building owners to claim a tax deduction for installing qualifying systems and buildings. Tenants may be eligible if they make construction expenditures. If the system or building is installed on federal, state, or local government property, the 179D tax deduction may be taken by the person primarily responsible for the system’s design. The systems and buildings must have been placed in service by December 31, 2017, which is when 179D expires. Deductions are taken in the year in which systems and buildings are placed in service. The 179D tax deduction has been in effect since January 1, 2006.”

Tax Controversy Services
Tax Controversies can be pretty intricate and complicated to deal with and if they are not handled correctly, they could have negative consequences and land you in major trouble. This is one area that I highly recommend using a professional for because you need someone on your side that understands the proper tax codes, rules, and regulations. A proper tax controversy service, such as the one that Engineered Tax Service offers should include a review and analysis, consultation and planning, expert witness services, litigation support, and representation and resolution assistance.

Insurance Replacement Appraisals
An insurance replacement appraisal is one of the best things you can do if you are a property owner, manager, board member, and/or an insurance agent. It shows due diligence, you have peace of mind knowing that your property is accurately insured, it prevents under-insuring, it is up-to-date which eliminates the possibility of a co-insurance penalty in the event of a loss, and it has many other perks and benefits, as well. If you do not know what an Insurance replacement appraisal is, let me help you out: “An insurance appraisal is a replacement cost analysis which provides an accurate estimate of the amount of insurance required to replace each structure and/or amenity exactly as it stands on the day the report was prepared. The appraisal provides both a hazard and flood insurable value (if the property is in a flood zone).”

Sounds complex, right? Luckily for you, Engineered Tax Services pays attention to all of the small details, resulting in the highest return on investment for their clients. They offer Tax Strategies for CPAs, Real Estate Investors or Owners, Manufacturers, Architects, Engineers, and Designers. CEO of Engineered Tax Services, Julio Gonzalez, worked in Washington D.C. with the Senate, Congress, Administration, and Treasury to play an instrumental role in passing tax reform with a focus on small business growth. His talents and knowledge along with the top tax attorneys, CPAs, engineers, scientists, Congressmen, and Senators in the United States will deliver the best benefits to you in compliance with IRS standards. If you are in need of specialty tax and investment analysis services, definitely check out Engineered Tax Services.

 

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