ThreeFive Inc. has continued its expansion into Federal services that can greatly impact the bottom line on your annual Return. This has been a natural extension since we’ve spent the past decade extracting enormous amounts of data to recover over 70 million dollars for corporations of all sizes.
Corporate Tax Check List
Here is a quick summary of the key peripheral tax benefit services we provide.
1. State and Federal Research Credits
Credits are gold. Many corporations are improving products or changing the way they do things and don’t even realize they might qualify for a credit.
2. Property Tax
Properly assessed real property is essential to paying the correct amount of property tax. Real property expertise and local jurisdictional experience delivers value to your organization.
3. Meals and Entertainment
Corporations often simplify and give their M&E a flat 50% haircut, leaving many dollars on the table. If your previous year’s schedule M-3 M&E line is $1 million or more, using an IRS-approved stat sample can nicely increase this line item.
4. Cost Segregation
This is a one-time adjustment on qualifying assets that can significantly help your bottom line.
5. State Income Tax
State laws, regulations and court cases provide opportunities for organizations to minimize tax burdens. A review of these opportunities and your organizational structure and filing requirements may provide financial benefits.
6. Domestic Production Activities Deduction
If you are engaged in domestic production activities (Internal Revenue Code §199), you may be entitled to an additional federal tax deduction amounting to 9% of your net income. Its determination can be simple or fairly complex depending on your business.
7. Sales Tax Refunds
Tax paid in error can be significant, especially in fast growing or large corporations where the A/P system is enormous and vendor errors are numerous.
8. Utility Consumption Audits
Especially useful when properly applied to corporations with manufacturing- or fuel-related operations.
9. Tax Compliance
If you are in an IRS or State audit, often times this can greatly affect your time and ultimately what you owe. There can be considerable tax savings in knowing how best to work through this process.