The folks at alliantgroup use their impressive resumes’ to provide small, mid-sized and large businesses with the tools and information needed to navigate the current tax code. Having an advisory board consisting of many former Senior Executives in the IRS as well as many former policy makers from the U.S. Congress, they aggressively work with a firm’s CPA and Chief Financial Officers to assist in finding the right tax credit that applies to each and every business.
With many of the current Board of Directors having occupied positions in the U.S. Government from the legislative branch to the IRS, alliantgroup is able to provide unique insight to what type of credit and deduction qualifies and what doesn’t for each individual business or industry. Also, these former lawmakers and enforcement officers of the IRS can find the maximum amount of deductions and credits than any other similar consulting service out there. They work directly with the accounting departments to find and utilize every government-sponsored credit, deductions and incentive programs to help your business increase its revenue.
Co-founded in 2002 by Dhaval R. Jadav alliantgroup works to offer consulting to every sized business and the CPA houses that work with them to consult on all types to the benefits, incentives, deductions and tax credits available. It is Mr. Jadav’s philosophy that small businesses are the engine for the national economy and helping those groups to find incentives and credits helps put more money into the small business owner’s hands, which they can then use to help grow their business more.
A thriving economy is built by growing businesses that can employ more people, which in turn gives more people higher incomes, and that leads to more consumer purchasing. It’s a self-propelling cycle and one that is created by the types of things that alliantgroup as the leader in specialty high-value tax consulting can show to businesses, which is how to curtail taxes and by increasing credits and deductions all leading to higher profits.
Businesses in more than 30 industries are eligible for tax credits when they participate in qualifying research and development activities. Alliant Group works with clients to optimize the number of roles and tasks that will qualify for tax credits. Each year, millions of dollars in the federal tax credit programs are left unclaimed because business owners are unaware of the program. In addition, many people assume that people in white coats perform research and development exclusively in laboratories. Nothing could be further from the truth. Constant efforts to improve products and services will qualify for tax credits when conducted according to the guidelines.
In the 1980s, Congress created the R&D tax credit program to encourage large manufacturing firms to embrace continuous innovation. Expenses associated with developing new processes and products can be prohibitive without tax credits. All of the money saved in taxes was invested in significant R&D projects that jumpstarted the entire economy. New jobs were created and the nation recovered from a deep recession. More than 30 years later, both parties support the R&D tax efforts of companies of all sizes. For startup firms, R&D tax credits can be applied to the payroll taxes since these smaller firms have not reached revenue levels when the income tax credits would apply.
More than $5 billion has been budgeted each year for R&D tax credits. Alliant Group has industry experts to work with clients to evaluate all open tax years. The past three years plus the current year can qualify if sufficient information exists. Improvement in the cash flow has saved many firms from the brink. New equipment and additional expertise allows firms to break through growth barriers. Additional projects are possible when firms have sufficient funds to invest in more R&D activities. Alliant Group reminds all clients to ask for a tax credit study, which reveals the ways in which the R&D tax credit programs can be optimized.
Business decisions are based on optimizing resources in ways that will increase profits and restrain expenses. Alliant Group reminds all decision makers that some choices can be beneficial when aligned with various tax credit programs from various taxing authorities. Incentives are designed to encourage various actions. Work opportunity tax credits were developed to offer companies an incentive to hire people from various groups. A job offered to someone who has been on welfare creates an opportunity to work and gain an understanding of another way to live. Employers are encouraged to add veterans, welfare recipients and ex-felons to company staffs.
Work opportunity tax credits, or WOTC, are dollar for dollar tax credits against the business tax obligation. Reduction of the tax burden improves company cash flow, which is the lifeblood of any business. Alliant Group encourages business owners to consider a mixture of people who might need a new start. In conjunction with the existing staff, these individuals will learn new skills and set a positive example for the next generation. Few employers will create a job specifically to participate in the WOTC program, but hiring decisions are shaped around the best ways to reduce the tax burden.
States and cities have devised tax incentive programs in response to significant economic events. Alliant Group encourages companies to look for enterprise zones and federal renewal communities where rebuilding is taking place. Incentives to move into a deserted city can offset the moving and setup costs. Over time, people return to the area for jobs, buy homes and place the children in school. The result is a community that is restored through hard work and cooperation. All of these tax programs save money for the participants and increase the tax revenue for each taxing authority. As people work and live, businesses are established and entire communities recover.
In the past three years, businesses have received more audit letters than ever before. Alliant Group has a group of tax specialists who work with clients following the receipt of a notice of audit letter. Americans have been shocked to discover that certain businesses have to singled out for closer scrutiny. Tax Controversy Services has raised concerns over the number of controversial audits that are being performed. Businesses are severely affected when the IRS arrives to conduct the audit. The operation will slow to minimal performance, which means less revenue while the auditors are present. Concern over unnecessary audits has made the TCS team an important ally for Alliant Group clients.
Tax Controversy Services offers a number of important consulting services to ensure the client is always prepared for an audit. The strong position taken in an audit will reduce the number of questions asked and ensure the auditors stay within the bounds of the original request. Alliant Group clients can rest assured that these aspects of every audit are covered:
- General consulting
- Pre-examination analysis
- Risk analysis
- IRS service center support
- Examination planning
- Audit defense
- Conference appeals representation
- Litigation support
The IRS strikes fear in most American business owners because of the unmatched power that is brought to bear. Alliant Group TCS specialists work diligently to answer audit questions and present facts without encouraging more scrutiny. Careful audit preparation ensures that the client’s case is presented succinctly and accurately. Audits will happen throughout the course of business life, but the outcome should never be left to chance. All recommendations made will be implemented for future tax years to prevent repetitive audits for the same question. Compliance with tax laws is important since the cost of noncompliance can bring death to a business.
Initially, the IRS tax code was designed to collect a fair amount of money from the top earners in the United States. Decades of new laws have caused a transformation to make the tax code a way to guide activities in various sectors of the economy. Alliant Group works with clients to embrace the activities that will yield the highest return on the investment in research and development. Business owners would like to see a reduction in the corporate tax rate, but Congress wrote R&D tax credit laws to encourage annual investments in R&D. This extra step reminds companies that market leaders must fight for position continually.
Any other approach to tax laws would allow businesses to decide where to invest revenue throughout the calendar year. Alliant Group knows that R&D efforts would continue, but the pace would be slower and less competitive. Embracing activities that increase the percentage of qualifying work allows companies to optimize the R&D tax credit programs. Companies in 30 industries can participate. In the early years, only large companies were eligible for these lucrative tax credits. Congress has realized that smaller firms can break through growth barriers because of R&D tax credits.
Business leaders should ask for a tax credit study to determine what current activities qualify. Alliant Group wants all decision makers to realize that the effort required to create the reports is invaluable. Existing activities can be modified to comply with the requirements of the R&D tax credit program. New projects can be defined with qualifying roles and tasks that will reduce the project costs. Appropriate planning can open doors for new contracts and projects that were once out of the company’s reach. Tax credits will be renewed as long as Congress sees companies embracing the programs. Unfortunately, too many decision makers are allowing millions of unspent tax credit dollars to remain on the table every year.
In the 1980s, Congress developed specific R&D tax credit programs that were designed to encourage large firms to invest in research and development. The nation was in a deep recession that had to end. Tax credits were thought to provide incentives to improve products and increase sales. History proved that this method led to more jobs, higher tax revenue, and a healthy economy. Thirty years later, Congress continues to renew and expand the R&D tax credits to include small and midsize businesses in many industries. Decreasing the tax burden on businesses creates jobs, encourages innovation, and supports economic growth.
People in lab coats are not the only employees who perform qualifying work that is considered research and development. Alliant Group works with businesses in every sector to identify activities that qualify for this credit under the IRS R&D tax guidelines. Alliant Group’s industry experts have developed a list of activities and processes and work with clients to maximize the percentage of work that qualifies for R&D tax credits. Continuous improvement results in better products, processes, and services that give companies a competitive edge in the marketplace.
Without R&D tax credits, companies would continue to innovate but at a slower pace. Costs associated with materials and labor would drain the cash reserves and constrain cash flow. R&D tax credits cover expenses associated with attempts that might result in advances. At times, an experiment will not have the predicted outcome, but time and materials have been invested, and those costs can be recovered through R&D tax credits. Companies are reminded that the money invested each year in R&D does not have to result in constant progress. Tax credits are designed to relieve the costs of R&D throughout the year.
Competitive businesses conduct various activities that fall into the broad category of research and development (R&D). Alliant Group encourages all small and midsize businesses to request a tax credit study early this year to procure these advantageous tax benefits. Optimizing the number of qualifying roles and tasks can improve cash flow in this struggling economy and reducing the tax burden allows companies to invest in growth which can expand a company’s equipment and personnel. The R&D tax credit programs are designed to encourage sustained innovation with American businesses no matter the size of each individual firm.
Businesses realize a significant number of benefits when participating in R&D tax credit programs. Examples of these benefits include:
• A source of cash that is immediately accessible since the tax burden is reduced.
• Tax liabilities at the state and federal levels will drop significantly in the current, and future, tax year.
• The dollar-for-dollar tax credit allows the business to pay lower taxes and not wait for a refund.
• R&D expenses are deducted from the gross income, which further lowers the tax obligation.
• Congress has allocated nearly $9 billion for R&D tax credits every year though millions of dollars remain unclaimed each year.
• More than 80 percent of the funds claimed will go to the largest companies in the United States. There are no size requirements on the R&D tax credit program.
• Companies in virtually every industry will qualify for the R&D tax credit program.
• All open tax years are eligible for R&D tax credits when appropriate documentation is provided.
• R&D tax credits can carry forward for 20 years.
• Additional R&D tax credits are added each year as technological leaps become standard practices that require improvements.
• States and cities are embracing the use of R&D tax credits to encourage companies to move into new communities.
Alliant Group has teams of industry experts who work with clients to maximize the R&D tax credits each year while providing careful guidance to ensure that the documentation will stand up against an IRS audit.
Businesses in 30 different industries benefit from the experience of the Alliant Group Industry Specialization Teams. Business processes can be modified to incorporate tasks that qualify for the R&D tax credit programs under the IRS tax code. Clients work with specialists to define roles that will include every team member. Optimizing every action will maximize the percent of every project that can qualify for tax credits that can make the difference between profit and loss for a company. Too many business leaders believe that only certain people perform qualifying tasks. Innovation happens throughout most companies on a daily basis.
Every industry has requirements in innovation that must be completed to remain competitive. Alliant Group industry specialists teach clients to identify the roles and tasks that will fit within the IRS guidelines. Adjustments are made as the projects proceed. Every industry specialist possesses a relevant educational and professional background to help the client. As tax credits are claimed, the client is able to afford additional projects that have been delayed in the past. Growth is possible when the annual tax burden is reduced.
Companies in these 30 industries are encouraged to contact Alliant Group and ask for a tax credit study. The information gathered will reveal the possible savings that can be realized during this tax year.
- Apparel and Textiles
- Building System Control
- Civil Engineering
- Dairy Farming
- Distilled Spirits
- Electrical Contracting
- Electrical Engineering
- Environmental Engineering
- Feed Mills
- Food & Consumer Packaged Goods
- Furniture & Cabinet Manufacturing
- Job Shops
- Life Sciences
- Mechanical Contracting
- Mechanical Engineering
- Oil & Gas
- Structural Engineering
- Waste Management
Years of planning and development precede the sale of software products. Alliant Group has been working with clients in many industries where software development is conducted. Costs associated with devising advanced software routines can be offset through tax credits. Innovation is required if a company expects to remain competitive. Expensive efforts to create new approaches in the software industry can fail, which means the money can never be recovered. Risks associated with innovation lead to technical advances that change the way products function. Software firms of all sizes qualify for R&D tax credits, which will improve cash flow each year.
Each software project must be preceded by efforts to define qualifying roles and tasks. Alliant Group industry experts work with project planners to optimize the percentage of work that will qualify under the IRS R&D tax credit code. As the project proceeds, the require documentation is created. Valid proof that the work performed falls within the guidelines will ensure that every possible tax credit is claimed. Any firm that develops software should request a tax credit study from Alliant Group. Reducing the cost of software development can reduce the cost of products and increase profit margins.
Former projects can qualify for tax credits even though the documentation is more difficult to create. Alliant Group teaches each client to assign work tasks that will qualify for the tax incentives. A higher percentage of qualifying tasks on every project will reduce the annual tax burden. Money saved can be invested in new equipment and projects that generate more revenue. Many firms have become more profitable after embracing the quest to seize every possible tax credit. Too many business owners assume that the software industry has been exempted from the tax credit programs. Millions of dollars in tax incentives remain unclaimed every year.
Software is present in every appliance, machine, vehicle and computer in existence. Creation of the programs that will provide instructions to intelligent objects requires months, or years, of research and development. Alliant Group reminds all software firms that lucrative tax credits have been created to offset the costs of writing the next generation of computer software. Innovation is the engine that fuel the American economy. Without new ideas and approaches for old challenges, the products created by American companies would lose the competitive edge. Congress created R&D tax credits back in the 1980s to encourage companies in every industry to continue the quest to lead.
Prior to the start of any software development project, the firm should contact Alliant Group for an assessment. Role definition is essential because each person should be participating in qualifying activities. Each person brings expertise the project, their efforts are important for the design and creation of software that will run innumerable processes. Companies require assistance with the costs that are incurred before a software product generates revenue. R&D tax credits for the software industry are valuable in other sectors as well. Reducing the company tax burden allows the funds to be used for other expenditures.
Throughout the project, experts on the Alliant Group team will teach project leaders to create the proper documentation to claim the tax credits. As the project proceeds, adjustments are made to maximize the percentage of tasks that will qualify under the IRS guidelines. Too many firms assume that tax credits are impossible to claim. Savings on the annual tax bill improves cash flow. With proper guidance, most software firms would be able to claim tax credits for a substantial portion of the R&D activities conducted in each project. Previous credits can be claimed in subsequent tax years if sufficient documentation can be created.