It’s one of the most common questions that we’re asked, and we understand why. Many businesses are working with tight budgets and don’t have enough room to hire professional services for taxation, so it’s understandable they are skeptical and don’t want to incur an expense.
The plan is to save maximum money by spending less, and that’s where the problem lies. The majority of small businesses overpay their taxes because they lack the knowledge to claim tax credits and deductions available to them.
They don’t realize that not hiring tax services is actually hurting the bottom line of their business rather than saving money. But don’t take our word for it. Check out the reasons why we believe that your business needs a tax credit expert:
A tax credit expert has extensive knowledge of tax regulations and how to increase tax savings. They can identify all the research and development activities and quantify each expenditure so it can be claimed to reduce the tax burden for your business.
In addition to calculating the tax savings, they can write a detailed report explaining the assessment and your financial standing to the tax authorities. These professionals don’t replace your existing tax accountant but work side-by-side to maximize tax savings.
A tax credit expert goes beyond the conventional tax savings methods like saving receipts, introducing a pension fund, and making charitable donations. The incentives run parallel to these savings and provide the highest possible tax savings for your business.
For instance, a regular accountant cannot perform cost segregation and reclassify properties for depreciation to drive depreciation or substantiate a large number of expenses to claim R&D tax credit expenses, which can result in substantial cost saving.
Protect your interests
Having a tax credit expert by your side during the audit can be invaluable for your business. Most reputable service providers charge for tax credit services on a contingency basis, which means they a vested interest in your company and will substantiate their claim.
However, you must work with a company with years of industry experience and a good reputation. Do your homework and find a reliable tax credit service provider with a team of highly qualified R&D tax credit experts to guarantee maximum tax savings.
The Darson Group provide an extensive range of tax services, including R&D tax credit, cost segregation depreciation, and the work opportunity tax credit. We have tax credit experts who provide specialized solutions to minimize the tax liability of your business.
Call +1 877-959-6731 to get started.