$14B Available in Tax Credits for Manufacturing – How to Claim Your Share
There is a new bill that would put $14 Billion in Tax Credits back into the pockets of manufacturers. However, manufacturers can take advantage of this program before it passes. That is because a largely unknown version of the program already exists called the “R&D Tax Credit”. A temporary version is in place through the end of 2013 as part of the American Taxpayer Relief Act of 2012. So, manufacturers can actually begin receiving funds this year based on previous year’s activities.
How does this apply to you?
You can start a Cost Recovery Consulting Company in affiliation with Blue Coast Savings Consultants and bring these Tax Credits for Companies to the attention of local businesses in your area. It’s a huge Business Opportunity for you and a terrific Business Service you are offering your clients. Let’s discuss the program a little more.
There are 5 Reasons Manufacturers are not taking advantage of the current version of these Tax Credits for Companies:
- They don’t understand the IRS definition of R&D. See below – many DO R&D without even knowing it!
- They believe their companies are too small
- They believe the benefit won’t outweigh the work
- They believe they have to change the way they operate in order to qualify
- They believe that the credit is not being renewed
Not only will these Tax Credits for Companies most likely be renewed, but congress has continually made it easier to qualify and expanded the eligibility to include not only the Fortune 1000 but also small to mid-sized firms who can utilize the credit to significantly affect their bottom line.
When working with manufacturers we ask two questions to determine qualification:
1. Were you profitable in any of the last 4 years; 2009, 2010, 2011, or 2012?
2. Is your annual payroll for any of these years in excess of $1.50 million?
If your client answers YES to both of these questions, they could qualify for significant savings. And you, as a Blue Coast Savings Consultant SHARE in this savings.
Don’t think you do R&D?
Many businesses don’t have a specific “R&D department” but actually may qualify under this program because they do things like:
- Program their machines
- Develop and Test Prototypes
- Consider alternative design processes and materials
- Test and do Quality Assurance
The list goes on, but it’s important to realize that most companies of some size DO R&D without even knowing it and could qualify for this credit, bringing them savings and you get a share of that savings. This Business Opportunity is available to you as a Blue Coast Savings Consultant.
Take the next step, View Our Webinar and learn why Blue Coast Savings Consultants is the best Business Opportunity in America right now.