The Coronavirus is impacting business, perhaps we can help you with cash flow and tax incentives - ELB Consulting

The Coronavirus is impacting business, perhaps we can help you with cash flow and tax incentives

Mar 24, 2020
 

The Coronavirus is impacting business, perhaps we can help you with cash flow and tax incentives

Mar 24, 2020
The Coronavirus is impacting business, perhaps we can help you with cash flow and tax incentives

COVID-19 has completely changed our world in just a matter of weeks. As the Coronavirus has spread rapidly and its impact felt across our planet, communities and the economies; we are seeking ways to manage our life, businesses and finances. Well established tax incentives can offer relief.

No one really knows what the virus and recovery will look like in the next 30 to 90 days. Though we can remain positive, and prepare for the worst and hope for the best.

Besides life as we know it being turned upside down, business and personal income has taken a huge hit. So much so that even the IRS has changed its taxation deadlines to July 15th. This is a huge development and gives us an opportunity to potentially provide help.

How so? In our world of specialty (and engineered) tax solutions, it is possible that we can help you or your business relief in the form of cash flow and reduced tax liability.

ELB already operates virtual and remote to support our national footprint. So, we have the technology and systems in place to continue to deliver our beneficial cash flow and tax incentives without interruption. Two of our core engineered tax services that may help drive cash are:

Cost Segregation Studies:

completed construction

If you own, develop or invest in commercial real estate (income producing), we can provide you with a 2019 or retroactive tax study. This can provide increased cash flow and reduce your 2019 tax liability.

What properties qualify?

  • Medical offices and surgical centers,
  • multifamily apartments,
  • office condos and office complexes,
  • retail stores and shopping centers,
  • veterinary hospitals,
  • FLEX industrial,
  • distribution centers,
  • sports complexes/fitness centers, and
  • even a single family rental property (or portfolio).

Research & Development Tax Credits:

If you design and innovate your own products and processes, or as contractual work for others – you likely qualify. We can go back and identify tax credits you may be due from 2016 through 2019 and get you a refund when you need it most, now! Just because it’s called the Research Tax Credit, doesn’t mean ‘white lab coats’ are required in your business to claim the benefit. The R&D tax credit even has a provision for start ups.

Who qualifies?

  • Software developers,
  • architects and engineers,
  • design-build firms,
  • tool and die companies,
  • most manufacturing,
  • automotive & marine,
  • breweries/distilleries/wineries,
  • industrial controls,
  • electronics manufactures, and many more.

We are here to offer any help we can to improve your business or individual cash flow. Since 2002, ELB has delivered hundreds of millions in tax incentives and benefits to our clients. If you could benefit from added cash flow and tax relief, we will provide a no-cost Feasibility Analysis of the benefits for which you qualify.

We look forward to hearing from you. Stay safe & Be well!

Tax Strategy Checklist

17 Tax Strategies For Business Owners

TAX STRATEGY CHECKLIST

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Are you a CPA?

PARTNER WITH US

Learn how working with our cost segregation experts can help you get more clients and retain your current ones.

Learn more

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