Ways the Government Wants to Help Your Business Succeed

Why the Government will Help Your Business Succeed

You want your business to do well.  The government wants your business to do well too.  In fact, the government will help your business succeed.  If you succeed, you will need to hire more employees, and that will benefit the economy. To help you reach this co-beneficial goal, both Federal and state governments are offering tax credits and tax incentives. 

The programs are designed to encourage you to start a business in a depressed economic area, or to implement innovative research or grow your business.  Many business owners assume their business won’t fit into the criteria for good incentives.  That is where your financial advisor like Dennis Bays of Americore comes in.  Americore uses a  group of unique programs, known as Blue Apple programs, with high benefits to enhance small business growth.  The programs are underused, mainly due to inexperience with them.  Americore representatives are super informed on every nuance of the programs.  We’ll work with your advisors to leverage the programs that are most valuable to your firm. 

The key to using the programs is understanding them when and how to best implement them.  We will go over some of the programs here in an overview.  To truly understand the program fit, you should contact your BlueApple professional at Americore and discuss it with them.   The conversation could save your millions of dollars.

When to use the Federal Research and Development Tax Credits

Also known as the Research Tax Credit, the federal research and Development Tax Credit is a wage based tax reduction that rewards companies for investing in eligible research.  There seems to be a general popular belief that this credit is only for technology and pharmaceutical companies.  It is NOT.  It can be used by engineers, architects, manufacturers and other types of businesses that qualify.  The programs may involve dollar to dollar tax credits or might offer tax incentives.  Check with your Americore representative to find out if this programs fits your business.

When to use Investment Tax Credits

The federal government wants to encourage you to invest in your business.  They want to help your business succeed badly enough to reward you for making that investment.  Eligible Individual or businesses may deduct a certain percentage of investment costs from their taxes.  To be clear, this is in addition to normal allowances for depreciation.  The percentage deduction for an investment tax credit is offered at the time an asset is purchased.

This is not a new tax credit, but it is misunderstood and underused.  It was created in 1962 to fend off foreign competition to American business.  It has evolved to use as a tool of pollution control, energy conservation and green technology as well as other development.

With decades of financial experience, Americore realized that many other advisors, investors and CPA’s were not using these and other incentive and financial programs completely.  So Americore picked out some of the best Blue Apple programs and researched every aspect of those programs.  Because they have used the programs for years, Americore professionals have the experience to know when an incentive will help and when it is not a good fit, far sooner than most people realize it.  The government wants to help your business succeed and Americore can facilitate that step. It is time to open the conversation.  You will be glad you did.