Tax Credits & Incentives
Kaufman Rossin’s tax experts can help businesses take advantage of many tax credits and incentives that are available through the state and federal government, including:
- R&D tax credit
- Cost segregation study
- Reverse sales tax audit
- Manufacturing tax credits
- Energy tax credits
- Section 179 deduction and bonus depreciation
Contact your Kaufman Rossin tax professional to learn how your organization can benefit from these and other specialty tax credits and incentives.
R&D tax credit
Many companies think the R&D tax credit doesn’t apply to them. Often, we show how it does.
If you’re developing a new or improved product, creating software, engaging in engineering, architecture, scientific or technical services, you may qualify for the Federal Research Credit. Commonly referred to as the R&D credit, this tax credit was first enacted by Congress in 1981, and businesses of all sizes – particularly in the healthcare, technology, manufacturing and construction industries – can qualify. Kaufman Rossin’s R&D tax experts can analyze your organization’s research and development operations to determine if you are eligible and help you capture valuable research credits.
Energy tax credits and incentives
New tax rules expand tax savings opportunities for the design and construction industry
The Inflation Reduction Act of 2022 enhanced the 179D Energy Efficient Commercial Building Deduction, a tax deduction incentivizing the investment in energy efficient commercial buildings. The revisions to the Section 179D rules include important changes that affect building owners and designers, adding increased value—and complexity—for those making energy-efficient improvements to new or existing buildings.
The expanded tax benefit updates the value of the 179D deduction, adds new eligible building types, changes the calculation method, and adds a deduction reset.
Learn more about the changes and what is needed to determine eligibility to claim this deduction.
Cost segregation study
Maximize your return on your real estate investments.
Kaufman Rossin’s real estate and construction industry experts can help you generate cash flow savings by conducting a cost segregation study.
Your real estate holdings represent a significant capital investment. Through cost segregation, we can maximize your real property’s financial return by carving out shorter-lived assets (qualifying for five, seven or 15 year write-off periods) that are normally imbedded in a building’s construction or acquisition costs and thus generally depreciated over 39 years.
Reclassifying your assets is generally most effective for property valued at $1 million or more. For every million dollars you reclassify, the present value of your increased cash flow from income tax savings approximates $230,000.
Many years of great tax saving advise and personal attention to all our needs. We have lived through our business being passed down by four generations with Kaufman Rossin’s professional advice.
-Vivi Rodriguez
Reverse sales tax audit
Did your business overpay sales tax last year? Are you sure?
Kaufman Rossin’s state and local tax specialists can conduct a sales and use tax “reverse audit” to help businesses recoup erroneously paid taxes. We analyze your payments and see whether you have a refund due from the state. We look at your fixed asset and consumable purchases over the past three years, and often find vendor overcharges of sales tax, or sales/use tax paid on exempt transactions.
Our experts have helped hotels, hospitals, manufacturers and other businesses recover thousands in sales and use tax overpayments. For example:
- We recovered approximately $130,000 in overcharged sales tax for a South Florida resort hotel.
- We recovered approximately $250,000 in overpaid sales/use tax for a Central Florida manufacturing company.
The best part: You only pay if we succeed. We perform reverse audits on contingency fee basis, so there is no cost to you unless we find an overpayment and get your money back, in which case the fee is a percentage of your refund.
