Did you know that your business can get Federal income tax credits for hiring individuals from certain disadvantaged groups like veterans or public assistance recipients?
Many Federal, state and local agencies are willing to reimburse private employers for a portion of the cost of training their workforce. These reimbursements can be tax credits, but are more often cash refunds to the employers.
The Federal government has created a refundable tax credit for businesses that were affected by COVID-19. Most businesses that did not receive Payroll Protection Program (PPP) grants will qualify, even if they owe no tax liability.
The tax credits for businesses affected by hurricanes and wildfires and other disasters can be material, depending on a number of quantitative and qualitative factors.
Due to the convergence of environmental concerns, the rising cost of traditional (fossil) fuels and pressures on governments to enact programs to stimulate our sluggish economy, there has never been a better time for government incentives for renewable energy.
The Research and Development (R&D) credit is a program offered by the Federal government as well as many states to provide incentives for businesses to invest in technological innovating and in hiring workers to perform qualifying activities