Posts Tagged ‘Tax Deductions’

Millions of dollars in tax benefits are frequently buried
like hidden treasure within your firm’s client records.

Engineered Tax Services (ETS) works with you to uncover these treasures to provide additional revenue for your firm and substantial tax savings for your clients.

Real estate clients rely on your expertise to provide them with tax strategies, techniques for maximizing revenue and expense reduction alternatives. Our experience shows that a quick and easy analysis of your clients’ depreciation schedules will assist you in generating significant tax savings for clients, building stronger client loyalty and developing additional long-term revenues for your firm. Our simplified process allows us to do this without any capital investment on your part and very little time commitment from your staff.   

Step 1 – Data Mining
The first step is to analyze your current client files to identify which clients have real estate holdings. Typically, in about an hour, your administrator can run a report through your tax software to generate a list of clients with real estate so that depreciation schedules can be run. Within a few hours, depreciation schedules are electronically redacted and printed with client numbers for identification purposes and forwarded to us for independent analysis.

Step 2 – Benefit Analysis
Upon receipt of the depreciation schedules, we will perform a benefit analysis to determine cost segregation and energy opportunities for each client. Within a week, qualified leads and estimated tax benefits for each will be identified.  Based on a firm your size, we anticipate discovering between 30 – 75 opportunities to be culled from the analysis process. We return the detailed estimates of the valuable tax savings identified to you and set up a conference with you and your partners to prepare a notification to qualifying clients.

Step 3 – Client Communications and Engagement
The next step is to communicate with the clients identified for cost segregation and energy opportunities. The timeline on this phase varies depending upon the availability of each client and partner, but generally takes between one and four weeks. In our experience, clients warmly welcome the news that additional tax savings are possible. We can handle the benefit discussions with clients or support you in your efforts. Marketing materials as well as ETS professionals may be available to help you with client communications.

Step 4 – Reporting
Once the engagement letters have been signed and received, we will prepare IRS-sanctioned reports and studies for each identified client. The cost segregation studies and energy reports as engaged by clients identified in the analysis are typically completed and delivered within 45 days from onset of the engagement.

Total Process Time:
90 Days to Treasures

The beauty of the Hidden Treasures assessment program is that you can:

• Create a new revenue stream
• Obtain new clients
• Solidify existing relationships
• Enhance your reputation
• Improve your firm’s competitive positioning in the marketplace
• …all with no capital needed…

We welcome the opportunity to explore the tremendous return on investment your firm’s participation in the Hidden Treasures program may yield. Please contact us for more information or to schedule a complimentary presentation.

Contact us at 1.800.236.6519 or visit www.engineeredtaxservices.com.

Join Clifton Gunderson at The Ritz-Carlton, Denver for a Luncheon on Wednesday, June 23, 2010  (11:00 am – 1:00 pm MT) -  to learn more about this tax deduction and the benefits it could provide to your business.  

This course has been approved by the U.S. Green Building Council for one hour of continuing education credit (qualifies for LEED Professional Credential maintenance).

Did you know that architects and engineers may be eligible for a federal tax benefit of up to $1.80 per square foot for the design of energy-efficient public or government-owned buildings placed into service after January 1, 2006?  Benefits originally awarded to architects and engineers through the 2005 Energy Policy Act have recently been extended through December 31, 2013.

Directions
The Ritz-Carlton, Denver
Fall River Ballroom
1881 Curtis Street
Denver, CO  80202
303-312-3800

About the Speakers

Norbert H. Crabtree, Engineered Tax Services, Director of Business Development
Specializing in tax incentives and green initiatives that require engineering expertise and has been providing engineering based tax strategy solutions to the architectural and accounting professions for  more than 10 years .  He consults to Fortune 500 clients and regional accounting firms on the most  tax initiatives available. Mr. Crabtree is currently certified for Continuing Professional Education syllabus development and instruction by the National Association of State Boards of Accountancy and the United States Green Building Council.

Mike Noyes, Clifton Gunderson, Senior Manager
With nearly 30 years of experience, Mike brings his extensive background in engineering, construction and cost estimating to Federal Tax Depreciation (including Fixed Asset Depreciation Studies, Cost Segregation Studies) and Energy Efficient Commercial Building (Section 179D) certifications. He has performed studies in various industries including restaurants, banking, retail, manufacturing, medical, general office space and multi-family residential.   Mike is a licensed Professional Engineer in the State of Colorado and has earned a Bachelor of Civil Engineering, an MBA and a JD.

Who should attend

• Chief Executive Officers
• Chief Financial Officers
• Controllers
• Owners of Architecture and Design Build Firms
• Internal Audit

Food/Refreshments

Lunch will be served

Need further information?

For information on course enrollment or administrative policies on course refund or complaints, please contact Molly Boyer at (303) 466-8822 or via e-mail at molly.boyer@cliftoncpa.com.

                                  
June 16, 2010 from 4:00-6:00PM
Join Don McDougall for a
2 hour CPE/CE presentation
to the Orange County AIA

Location:

Belden Hutchison & Co., LLP

125 E. Baker Street, Suite 280

Costa Mesa, California  92626 

The presentation will examine, review and explore:

• How Sec. 179D rewards energy-efficient design.
• History and requirements of Sec. 179D and EPAct
  • Actual benefits to architectural firms over the past 24 months
• How minor changes in design, with small cost increases, can generate significant energy savings and related tax deductions.
  • Examples for HVAC, SHELL and LIGHTING
• How to access benefits for projects completed between 2006 and 2009
• Identifying tax deduction opportunities for clients in the private sector & how to best communicate the opportunities to clients
• Identifying & maximizing tax deduction opportunities for architectural clients in the public sector
• Maximizing benefits of EPAct for “C” and “S” corporations

The Research & Development (R&D) tax credit is one of the most significant domestic tax credits remaining under current tax law – a substantial tool for maximizing a company’s cash flow and bottom line. No one can afford to leave money on the table. Nevertheless, when it comes to the R&D credit, cash is left untouched all the time. Despite the fact that the R&D credit has been available off and on since 1981, only a third of eligible companies recognize that they qualify for the credit. Even if companies claim an R&D credit, they frequently do not claim the entire credit to which they are entitled, either because they do not understand what qualifies or do not have the processes in place to properly document the credit. Without competing for your accounting work, we can help you and your clients identify and capture the R&D credit and increase cash flow for all involved. 

Read the Full Article for details.

Joel Ackerman, CPA

The Energy Policy Act of 2005 (EPACT) provides substantial tax benefits. Under Section 179D of the Internal Revenue Code, owners of energy-efficient commercial buildings may take a tax deduction of up to $1.80 per square foot for qualifying construction or retrofits. 

To help reduce the energy consumption and CO2 pollution from commercial properties, Congress passed The Energy Policy Act of 2005, which provides substantial tax benefits where energy efficiencies are designed within a building.

The IRS Regulations require an independent engineering study in order to substantiate and make a valid claim for these federal tax deductions. These deductions became available as of January 1, 2006 and have recently been extended through December 31, 2013.

How does entity type affect the taxable income to building owners? Read the Full Article for details about the general tax treatment of each type of entity.

By James K. Zahn, FALA, Esq.

Recently, I received a call from my accountant. She called to inquire if I have ever had one of my architect clients attempt to receive a § 179D Deduction for Energy Efficient Commercial Buildings granted under Title 26 of the US Federal Regulations (fondly known as the “IRS Tax Code”). I was unaware of this particular section of the Code until her call, as none of my clients have ever asked about it or brought it to my attention. This article will concentrate on publicly-owned commercial buildings, because that’s where the architect is really in a position to greatly benefit from this unusual regulation. 

According to the US Government Printing Office, the IRS Tax Code is 13,458 pages long, and is contained in twenty volumes available for purchase at only $974, plus shipping and handling. Section 179D is a very small provision buried within a voluminous document and can easily be missed. I looked up § 179D on the internet and was astounded by what I found. This particular section of the tax code is a must read for all practicing architects and their accountants!

Read the Full Article for information every architect should know.

Federal tax law offers an incentive to taxpayers who contribute to the preservation of our nation’s old and historic buildings.

By rehabilitating directly or investing in the rehabilitation of eligible buildings, taxpayers can take advantage of one of a two tax credits.

The federal income tax credit is equal to 20% of the cost of rehabilitating historic buildings or 10% of the cost of rehabilitating non-historic buildings constructed before 1936. These credits provide a dollar-for-dollar reduction of income tax owed.

Read the Full Article for details.