Tax Incentives Made Simple
Our Specialists find Tax Strategies Worth $$$
In today's world of business accounting, your CPA may not have the time or the expertise to dig-deep for tax breaks, energy savings and hiring incentives. So they turn to Smarttax for help – and so should you.
Smarttax uses contracted professional services to provide Smarttax clients with the latest in tax and expense strategies. So far in 2020, Smarttax professional services have saved clients over $8 million in taxes – with some of that savings coming back to the client in direct cash. It's like a payday for the business owner!
So what are you missing? What taxes can you reduce?
Using our simple tax-savings report, Smarttax can help you with a quick, initial assessment to determine if you company has potential untapped savings. Even if you are working with a CPA on tax strategies, you can use Smarttax as a "second opinion."
Smarttax takes a small percentage of the tax savings in payment for handling the services if we find you a savings or refund. And through
our trusted partners, there is an audit guarantee and a "no payment" guarantee if we do not find a refund or savings for you.
Cost Segregation: Any Commercial Property owner that bought, built or remodeled in the last 20 years for $500,000 or more.
R&D Tax Credit: Any Manufacturer, AEC, or Software Developer with at least $500,000 per year in Annual Payroll.
Property Tax: Any Commercial Property owner paying at least $50,000 per year in Property Tax.
Smartflex: Any plan enrolled in Smartflex qualifies for $1,101 in FICA savings per enrolled employee per year.
Local, State & Federal
Our Cost Segregation service if one of three flagship services making up our Specialized Incentives.
Cost Segregation is an engineering based study that permits commercial real estate owners to reclassify real property for depreciation purposes. This reclassification results in significant cash flow benefits in both present and future years through considerably shorter depreciable tax life and accelerated depreciation methods.
PROPERTY TAX MITIGATION
After income taxes, property taxes are the single largest recurring charge for commercial property owners. In most states, owners are required to pay taxes on both their real estate and personal property. These charges are often an immense expense and a constant hit to their bottom line. To be ensured clients are not being overcharged, we use an industry specialist with extensive market experience in valuation, tax and law to perform their Property Tax Mitigation.
R&D Tax Credits
Smarttax utilizes a team of highly qualified professionals, including IP attorneys with engineering backgrounds, and adhere to the Comprehensive Project by Project Approach methodology as required by the IRS. By following this methodology, we qualify every applicable employee, activity, hour spent and corresponding wage paid in order to maximize the incentive for our client. We strictly adhere to the applicable sections of the code and provide first-in-class documentation to substantiate our findings.
Smarttax has partnered with GMG to provide clients with an annual or ongoing monthly audit of key expense items. By working directly with your current vendors, GMG will review your major expenses and provide reporting back to you on errors, overcharges, and other costs that can be credited to your account. It’s like having your CPA audit your major expense items, without the CPA fee!
"Over 15 billion square feet of commercial property has been built in the last ten years.
Yet less than 7% of new construction has applied for a federal cost-saving analysis."
– Jason Ziccarelli, GMG Savings
ESOP: Funding Retirement
So you've built a successful business and considering retirement? Do you sell? Do you stay? Where will you get the cash for retirement?
Consider selling your business to your employees through an ESOP: Employee Stock Ownership Plan.
As the owner, you maintain control, but reap all the tax benefits. In fact the sales price of the company comes back to you in non-taxable dollars! Contact us to learn more.
401k Management @ 0.03%
At Smarttax, we cringe when we review 401k plans. The fees can be outrageous – and can impact investment results.
With our 401k partnership, we can direct you to a new way to use 401k:
No hidden fees;