Gain an understanding of the available tax incentives and which are the best for you.
Many companies that are required to pay federal and state tax liabilities do not know about the various tax incentive programs offered by the federal and various state governments. Even if they've heard about the research tax credit or employee retention credits, they often think that their company cannot qualify for the incentive. The IRS estimates that 35% of taxpayers eligible to claim the credit actually take advantage and often understate the credit.
This course will help you understand the qualification criteria of various tax incentives and what potential benefit you might see within your company. It will help you assess whether your company can qualify for the research tax credit and employee retention credits, which will bring immediate and future cash tax savings to the firm and help you identify tax benefits as your company grows and expands. If you're considering building or moving facilities, you will also learn more about qualified opportunity zones and cost segregation studies that will maximize your tax savings. This information is critical to understanding the subsidies available for all companies performing R&D, investing in alternative energy, hiring, and expanding.
Martin C. Karamon, J.D., LL.M.
- Tax Principal in Cherry Bekaert’s Tax Advisory practice
- Focuses on federal credits and incentives related to R&D, hiring, capital expansion, and energy sustainability in key industry areas, such as technology and software development, manufacturing, life sciences, real estate, construction, and automotive
- With more than two decades of experience, he helps clients identify, evaluate, and implement an array of tax incentives and planning opportunities, including IRC Section 41 research tax credit services, qualified opportunity zones, new markets tax credit financing, employee payroll retention credits, disaster recovery and retention credits, combined heat and power investment tax credits, and IRS defense services.
- State Bar of Michigan, New York State Bar
- LL.M. degree in taxation, Georgetown University; J.D. degree, The Ohio State University; B.A. degree, Kalamazoo College
- Can be contacted at [email protected] or 240-316-4517
Vivian Kohrs, CPA
- Director in Cherry Bekaert’s Tax Credits & Incentives Advisory practice in the Tysons office
- With strong data and analytical skills, including the use of Alteryx, she helps the firm with strategic developments of numerous firm-wide engagement enablement tools
- Has helped client teams establish their research tax credit study process and achieve significant tax savings
- Focuses include research credit studies in the automotive, pharmaceutical, health and life sciences, aerospace and defense, financial institutions, manufacturing, and computer software industries
- Additional areas of experience include Section 174 Research Expenditures, UNICAP, accrued bonus, inventory accounting, and other accounting method changes and associated calculations
- Professional involvement includes the American Institute of Certified Public Accountants (AICPA), Women In Tax, New Jersey, and 30% Club Cross Company Mentorship
- M.S. degree in accounting, New York University, Leonard Stern School of Business; B.A. degree in finance and accounting, summa cum laude, New York University, Leonard Stern School of Business
- Can be contacted at [email protected] or 703-940-5536
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