Tax Credits and Incentives

The federal and state governments have provided many tax credits and incentive opportunities for businesses to reduce their tax burdens and boost their bottom lines through credits, deductions and incentives.

Opportunities include receiving savings from research and development efforts, hiring and training employees, qualified investments, operational improvements and more. Navigating the many tax savings available to your company and determining your eligibility can be a daunting task, but it doesn’t have to be. Warren Averett’s tax experts can help you discover your company’s tax savings potential today.

Examples of Tax Credits and Incentives

Many businesses wouldn’t suspect that they could qualify for research and development (R&D) credits. However, if your company has invested time and money in developing new techniques, improving processes or innovating in other ways, then it is worth investigating. Expenditures like this are eligible for the credit that can help improve your bottom line.

Businesses often struggle with the ever-changing tax regulations and liabilities associated with state and local taxation. Warren Averett’s state and local tax experts can provide a variety of services aimed to increase your company’s tax savings potential.

Business that have installed qualifying energy-saving appliances, utilities or systems may be eligible to take advantage of tax deductions or credits. Architects, engineers and contractors who are making energy-efficient enhancements to government-owned buildings at the federal, state or local level can be allocated the tax savings by the owners of the buildings.

In response to the increasing globalization of the marketplace, U.S. companies exporting goods and services can qualify for a variety of tax incentives, including permanent tax savings available for pass-through entities. Warren Averett’s international tax team can see that your company takes advantage of available export incentive opportunities.

A utility audit can determine an organization’s energy use. Our tax professionals analyze which portion of your company’s utility cost is nontaxable. Warren Averett can help you obtain refunds from up to three years prior and receive ongoing savings which can be used to improve your company’s bottom line.

The federal government imposes taxes on a variety of fuel types in order to fund road projects across the country. Because not all fuel consumption takes place on roads, businesses that operate machinery and vehicles in other capacities may be eligible for a fuel-tax credit.

The Disaster Tax Relief and Airport and Airway Extension Act of 2017 provides temporary tax relief to victims of Hurricanes Harvey, Irma and Maria within designated disaster areas. Qualified businesses and individuals can take advantage of specific tax credits within the Act that may provide relief to your organization.

Whether you are expanding internationally or within the U.S., Warren Averett can coordinate solutions to help your company take advantage of money-saving opportunities found through tax credits and incentives during the process of selecting a site for expansion.

Warren Averett offers services that allow our clients to reap the benefits of all possible tax credits and incentives during project financing. We can facilitate project-based financial modeling, transaction support and cash-flow projections while seeing that you meet all compliance standards.

State regulations are becoming increasingly complicated for both telecommunication companies and those companies that bill for communication services. There are also multiple taxes and fees placed on telecommunication services that prove to be challenging for companies to manage on their own. Our tax professionals can help you stay in compliance and uncover savings through potential exemptions and refunds.

The Federal Historic Preservation Tax Incentives Program offers tax credits to private investment companies for the rehabilitation and re-use of certified historic structures. Our professionals can confirm your eligibility, develop transaction structures and mitigate the risk of reallocation to ensure that your company is taking advantage of the maximum credit available.

Warren Averett tax professionals advise intuitional investors on best practices regarding investment methods and goals. Our team is comprised of experts in due diligence, policies and procedures, risk management and community development tax credits who know what to look for and how to save your company money.

In an effort to promote private sector involvement in the development of affordable housing aimed at low-income Americans, the federal government has allowed developers and investors to qualify for low-income housing tax credits. Our tax professionals offer knowledgeable advice and practical solutions to help your company comply with state and local regulations and meet the requirements of financial institutions so that you can maximize your savings potential.

The Opportunity Zones program was established by Congress in the Tax Cut and Jobs Act in 2017 as an innovative approach to spurring economic development and job creation. Economically-distressed communities were nominated by each state and then certified by the Secretary of the US Treasury as Opportunity Zones. The Opportunity Zones are designed to spur economic growth by allowing tax benefits to investors.

R&D Tax Credits Guide

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