Other Tax Credits and Incentives

You are Entitled to a Tax Credit

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Our List of Services

FEDERAL

Cost Segregation Study

This study identifies and reclassifies personal property assets to shorten the depreciation time for taxation purposes, which reduces current income

tax obligations. Personal property assets include a building’s non-structural elements, exterior land improvements and indirect construction costs. The primary goal of a cost segregation study is to identify all construction-related costs that can be depreciated over a shorter tax life (typically 5, 7 and 15 years) than the building (39 years for non-residential real property). Personal property assets found in a cost segregation study generally include items that are affixed to the building but do not relate to the overall operation and maintenance of the building. Please contact us for more information.

Domestic Production Activity Deduction (DPAD)

Sec. 199 generally provides for an extra deduction of 9% of the income from certain production activities, in addition to the otherwise allowable deduction for production costs. The activities that qualify for this deduction are not limited to what might be thought of as traditional manufacturing but include construction, engineering, architectural services, film production, some utility company activities, and producing certain other qualifying production property. Businesses can file amended returns going back three years to claim cash tax refunds. Please contact us for more information.

Empowerment Zone Tax Credit (FEZ)

The empowerment zone employment credit provides businesses with an incentive to hire individuals who both live and work in an empowerment zone. You can claim the credit if you pay or incur "qualified zone wages" to a "qualified zone employee." The credit is up to $3,000 per qualified employee. Businesses can file amended returns going back three years to claim cash tax refunds. Please contact us for more information.

Net Operating Loss (NOL) Carryback

If your deductions for the year are more than your income for the year, you may have a net operating loss (NOL). You can use an NOL by deducting it from your income in another year or years. Generally, the carryback period is 2 years back and the carryover period is 20 years forward. Please contact us for more information.

Small Business Health Care Tax Credit

If you are a small employer, there is a tax credit that can put money in your pocket. To be eligible for this credit, you must have purchased coverage through the small business health options program (SHOP) marketplace. For more information, please click here.

CALIFORNIA

California Competes Tax Credit

The California Competes Tax Credit is an income tax credit available to businesses that want to come to California or stay and grow in California. For more information, please click here.

Enterprise Zone Tax Credit (CA EZ)

The CA EZ program began its 5 year phase out in 2014. However, the credits can continue to be calculated on wages paid to qualified employees through 2018. The carryover period is up to 10 years. This means that the credits can be used through 2028. Please contact us if you need assistance in this area.

Net Operating Loss (NOL) Carryback

If your deductions for the year are more than your income for the year, you may have a net operating loss (NOL). You can use an NOL by deducting it from your income in another year or years. Generally, the carryback period is 2 years back and the carryover period is 20 years forward. Please contact us for more information.

New Employment Credit (NEC)

The NEC is available for each taxable year beginning on or after January 1, 2014, and before January 1, 2021. This credit is for a qualified taxpayer that hires a qualified full-time employee on or after January 1, 2014, and pays or incurs qualified wages attributable to work performed by that employee in a designated census tract, pilot area, or former economic development area, known as the Designated Geographic Area (DGA), and receives a Tentative Credit Reservation (TCR) for that employee. For more information, please click here.