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Tax credits offer tremendous opportunities to reduce or eliminate federal and state tax liability, but are misunderstood and underutilized.  This document offers a summary of tax credits and incentives available to business taxpayers in California.  Please call or email us for a free consultation.

Provisions of the PATH Act of 2015 related to the R&D Tax Credit and Work Opportunity Tax Credit (WOTC) as well as recent developments in these programs offer taxpayers tremendous savings opportunities.  Please click here for additional information and do not hesitate to contact us for a free consultation.    

The Governor’s Office of Business and Economic Development (GO-Biz) will be awarding $230.4 million during fiscal year 2017-18 under the California Competes Tax Credit (CCTC) program.  The CCTC encourages business taxpayers to relocate to California or remain and grow in the state.  Awards are offered for hiring full-time employees and investing in personal and real

The December issue of the CalCPA magazine included an update on available business tax credits.  This is a great planning opportunity to reduce or eliminate tax liability as we head into 2017.  The article is available here.

The Governor’s Office of Business and Economic Development (GO-Biz) is hosting a series of workshops to assist taxpayers with claiming the California Competes Tax Credit (CCTC).  Interested parties can register here. The CCTC is focused on attracting and retaining business in California.  GO-Biz evaluates the most competitive applications based on various factors required by statute

As we honor our veterans today, employers may want to consider the Work Opportunity Tax Credit (WOTC) for new hires.  WOTC is a federal income tax credit available to employers that hire individuals from targeted groups that have traditionally faced barriers to employment.  The Veterans Opportunity to Work to Hire Heroes Act of 2011 (“VOW

The R&D Tax Credit rules generally prohibit time and expense incurred in the development of internal-use software (IUS) with certain exceptions.  The final regulations (TD 9786) released last week address various issues regarding IUS for purposes of the R&D Tax Credit and finalize the proposed regulations issued in January 2015.  Prior to the proposed regulations, the

Manufacturing Day 2016 was a great success!  We had an opportunity to spend time with our manufacturing clients celebrating their achievements as we look forward with them to new challenges.  The manufacturing industry makes nearly half of all R&D Tax Credit claims according to statistics released by the IRS and yet it remains underutilized so this

The deadline to submit Work Opportunity Tax Credit (WOTC) applications for qualified employees hired January 1, 2015 through August 31, 2016 is September 28, 2016 under IRS Notice 2016-40.  WOTC forms must typically be completed on or before offer of employment and filed with the designated local agency (DLA) not later than 28 days after the

The Governor’s Office of Business and Economic Development (GO-Biz) is now accepting California Competes Tax Credit (CCTC) applications for fiscal year 2016-2017.  GO-Biz will award $75 million to businesses that are expanding operations in the state during this initial round of applications.  The deadline to submit applications is Monday, August 22, 2016, at 11:59 PM (PDT).  The online