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Cash Accounting

The cash accounting method is both less complicated and less costly to maintain, while reducing regulatory risk, versus more sophisticated tax methods required in the past. More small businesses can use this favorable method; now firms with up to $10M in gross receipts, up from $5M, can opt in.

It’s not a reach to expect that a small business would save money from less complexity associated with their taxes. These savings, and the attention that would otherwise be focused on complex tax compliance matters, could be used to improve a venture’s chances for success.

Favorable winds are at the back of the entrepreneur and investor alike. But, if their respective sails aren’t set to catch those winds then the creation of good-paying jobs and the realization of market-transforming innovations will be less robust than it could be otherwise.

Those close to the entrepreneur and private investor, that is, anyone directly or indirectly tied to the economic development eco-system (you know who you are), would do well to take it upon themselves to “inform and educate” as it is safe to assume that the intended beneficiaries of this favorable legislation are focused on developing cutting edge technologies and making the next deal, and not so much on deciphering government policy.

www.BusinessRefundEstimate.com

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Over $100 billion is available for U.S. manufacturers.

There is simply no other single industry with this level of available incentives. Unfortunately, small to mid-sized firms are consistently missing out on these funds. Programs such as the Section 41 Research Credit, Cost Segregation, Property Tax Mitigation, Energy EPAct, and others are potentially available to you.

If you are not a Fortune 100 firm, GMG is your specialized tax incentive advocate and will vigorously work to ensure all eligible monies are captured. If you own a manufacturing firm and are paying taxes, it is time to contact us for a free analysis of your available incentives.

Naomi Scott

Naomi Scott's Princess Jasmine.

Startups Benefit From “R&D” Tax Credits As Payroll Tax Offset

The PATH Act (“Protecting Americans from Tax Hikes”), related to the “Startup Act”, allows the technology-based startup, which is commonly rich in “qualifying research expenditures” and associated tax credits, but often lacking in taxable income, to now apply “R&D” tax credits against payroll taxes. Startups in this case, among other criteria, are firms with less than $5 million in annual gross receipts.

See Your Business Credits In Seconds

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Our Average US Business Client Receives Over $240,000 in Benefits

We’ve developed a simple online tool for business owners to check in 30 seconds if you qualify for any Federal Programs and Tax Credits

Find out in 30 Seconds if you qualify for any Federal Tax Incentives. 

www.BusinessRefundEstimate.com