Why don't business owners claim their tax incentives?

 There are a few potential reasons why some business owners don't claim tax incentives they may be eligible for:

• Lack of awareness - They may not know about the various tax credits, deductions, and other incentives available to them. Small business owners in particular often don't have the resources to stay on top of complex tax laws.
• Hassle factor - Some business tax incentives require a fair amount of paperwork, record-keeping, and other administrative tasks in order to claim them. Business owners may decide the extra effort isn't worth the potential tax savings.
• Eligibility concerns - Business owners may be unsure if they actually qualify for certain tax incentives based on their business structure, size, industry, or other factors. Rather than risk an audit, they may avoid claiming incentives they aren't absolutely sure about.
• Cash flow - Some tax incentives are designed to be claimed over a period of years. A business may not be able to afford to forego the tax savings in the short term, even if the long term incentive is valuable.
• Fear of audit - Claiming large deductions or credits can raise a business' audit risk with the IRS. Some owners may prefer to avoid attracting such scrutiny.
• Lack of tax planning - Business owners focused on day-to-day operations may not proactively seek out tax planning advice to maximize incentives and credits.

So in summary, a combination of financial constraints, uncertainty, lack of awareness, and fear of audit may lead some business owners to leave potential tax savings on the table.

All of that is addressed with our proprietary software which allows small to mid-sized businesses to take a quick 60-second confidential survey to determine if they qualify for any of these benefits! Then we do 98% of the work, your CPA/accountant can then submit our findings to the IRS.

Over the past 23 years we have never experienced a client complaint as there exists no opportunity for them to have a negative experience in that we are not paid unless and or until we are successful in realizing the benefit to the client!!