Tax Credit Consulting

It is shocking, really. Millions upon millions of dollars are “left on the table” by companies every year, because they either are not aware that they qualify for governmental incentives or they don’t understand what a dramatic impact claiming those credits can mean to their bottom line.

Our clients can tell many wonderful stories of their huge monetary savings due to solid tax planning and considerations, all because they were able to take advantage of governmental incentives put in place to promote commerce, energy conservation, jobs/employment opportunities and training for citizens.

These incentives can have a tremendous impact on a company’s tax liability and can significantly reduce the cost of doing business in Georgia, other states and the United States. Is your business taking advantage of all the incentives available to it?

Georgia and the federal government provide businesses the opportunity to claim dollar for dollar reductions in tax liability through several incentives such as

  • Federal and state historic preservation and/or redevelopment tax credits
  • Work Opportunity Tax Credit (WOTC)
  • Environmental credits (conservation, pollution control, recycling, etc.)
  • Federal and state new markets tax credits
  • Renewable energy tax credits
  • Low income housing credits
  • Housing tax credit program
  • Mill redevelopment tax credits
  • Abandoned building tax credits
  • Film tax credits
  • Research and development (R&D) credits
  • Domestic production activities deductions/ production incentives
  • Employee training and retraining incentives and credits
  • Job creation credits
  • Tourism incentives (such as Georgia’s Tourism Development Act)
  • Military zones job tax credit
  • Special zoning credits such as “opportunity zones”
  • Investment tax credits
  • Industry specific tax credits, including film/television/entertainment, hospitality, retail, construction, restaurant, manufacturing, call center/customer service, etc.
  • New markets tax credits
  • Port activity tax credit

Other things we do at BNKJ to help clients increase their bottom lines include

  • Cost segregation studies and analysis
  • Conservation opportunity assessment
  • Profit and cost analysis

We start by making our clients aware of applicable tax credit and governmental incentives through a comprehensive assessment, and then we maximize those tax credits while minimizing the risk, resources and costs associated with obtaining them. Some of these incentives allow a business to amend past returns for unclaimed incentives for one, three and sometimes five years, which can create an even larger financial impact.

By having extensive knowledge of what local, state and federal incentives are available and what the requirements are, by having valuable relationships with the agencies involved with issuing and regulating these credits, and by having strong, trusting relationships with tax credit service providers, we are able to ensure that our clients properly identify and obtain tax credits in full compliance of all regulations set forth by the government.

BNKJ offers a tax credit assessment for companies wanting to take advantage of governmental incentives. To learn more, please contact Ross Mackenzie, our Business Consulting Manager, at 770-261-1900 or rmackenzie@bnkj.com.