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Tax Credits and Incentives: Tapping into opportunities by claiming the tax credits that you are entitled to and may have missed
 
 

Are you leaving money on the table?

You could be. Tax credits and incentives were written in the law so that qualifying taxpayers can be awarded for certain activities such as job creation and promoting business growth.  Let the IRS and the state revenue agency finance your growth by claiming the tax credits you have missed.

Tax credit is a benefit that IRS and the state revenue agencies allow to the taxpayers based on certain business activities and situations.  Tax credit offsets the taxpayer’s tax liability on a “dollar-for-dollar” basis so it can create significant tax savings. A tax credit is better than a tax deduction, which only lowers the amount of taxable income.  Therefore, tax credit should not be overlooked by taxpayers who have potential to take advantage of them. Incentive is a general term that encompasses the tax credits, special tax deductions and other tax benefits provided to the taxpayers

Businesses located in one of the state’s 42 Enterprise Zones can generate Hiring Credit and Sales/Use Tax Credit, which can significantly reduce their California income tax.  A single qualifying employee can generate over $37,000 of Hiring Credit for its employer.  Also, sales tax paid for machinery, equipment, computers and other qualifying personal assets being used in the “zone” will generate credit.  We have clients in the zone all across the state, covering the Northern, Central and Southern California.

Why Hire A Specialist
Many CPAs underestimate the complexities involved in the tax credit area. There are constant changes and expansions to the geographical boundaries of the zones, zones’ effective and expiration dates, and technical complexities that are unforeseen by a general CPA.  There is limited tax law and authorities written for the tax credit - that means an actual working knowledge based on experience and audit result is invaluable. Specialists have a streamlined process already set up to efficiently screen a client’s tax credits whereas it often costs a lot more time for a general practitioner to establish his/her system for those few clients who request tax credit service.

We Can Help:

  • We have built our reputation as a trusted advisor for our clients for over 80 years.  Just as our clients come to us to rely on our general tax and accounting services, clients and other CPAs rely on us to deliver the same high-quality work and service in the tax incentive area. 
  • We look out for the client’s interest first, not our own, because we are interested in building long-term business relationships. 
  • We offer flexible fee arrangements and fee options that meet your budget. We make sure our cost is only a fraction of the savings you obtain.
  • We offer free initial consultations and can often provide potential benefit assessment before you contract with us. 
For a consultation, contact us today.

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Jenny Chen, Partner
Glendale, CA
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Carla Kuhns, Partner
El Centro, CA
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Mica Miyamoto, Partner
Glendale, CA
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Richard Preciado, Partner
El Centro, CA
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San Diego, CA
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