Payroll Tax Reduction
Payroll tax is a major expense for businesses, but by offering a wellness plan to employees through a Cafeteria Plan, business owners can save from $400 to $700 per employee per year in payroll taxes. We offer this program to our business owner clients to help them free up cash flow and save on payroll taxes.
Property Tax Mitigation
You may be paying more in property tax than you have to, and our professionals can help create a property tax mitigation program that can save you money. This service is offered on a contingency basis, and fees are only charged if you save on your property taxes. Fees for this program are based on the actual percentage of your savings.
A cost segregation study identifies and reclassifies personal property assets to shorten the depreciation time for taxation purposes, which reduces current income tax obligations. These assets can include your building’s non-structural elements, land improvements, and more. The goal is to identify construction-related costs that depreciate quicker than the standard depreciation schedule. With this, a business owner can refund part of their income taxes and decrease their current and future income taxes. This service is also offered on a contingency basis
Research and Development (R&D) Tax Credit
The US offers some of the world’s richest R&D tax incentives. Chances are, many businesses are not taking advantage of this tax incentive and getting the cash they deserve. Recent IRS regulations make it easier to qualify for R&D tax credits. Coromar Business Strategies can help you meet these qualifications and apply for the applicable credits.
Worker’s Opportunity Tax Credit (WOTC)
The Worker’s Opportunity Tax Credit promotes hiring of individuals who qualify as members of target groups and provides the employer with an incentive for this hiring. Based on past performance, we have saved businesses an average of $2,400 per employee hired.
At the end of the day, what really matters is that you have tax programs in place to reduce your exposure. Contact us today to find out how to benefit from our exclusive programs.
Coromar Business Strategies is a subsidiary of Coromar Group of Companies. Copyright 2017 Coromar Marketing. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.