Good tax planning involves understanding your business and individual situation and developing a plan to take advantage of credits that fit your specific situation. Energy tax credits, research and development tax credits, state film industry credits, employee retention credits are just a sample of credits that could be available to business and individuals.
Credits are available for businesses of all sizes in a variety of industries. These credits could also be available at a federal or state level. For example, Georgia’s film industry credits allow individuals to purchase tax credits from a broker at a discount — often in the range of $0.87 to $0.90 on the dollar. The difference becomes both your savings and your profit.
Due to current Covid situations, there are also a variety of credits that were developed and are available for a limited time. Contact us today to schedule an appointment. An analysis of your business or individual situation could yield credits to help you realize immediate tax savings.