Tax Credits From Your Business Advice
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Did you know that your business advisory services can generate tax credits for your clients? Here's the scenario:
In today's economy, with business slowing down, your clients need to reduce costs and
increase productivity. This almost always means changes to
business processes. Your assistance with these efforts could result in
Georgia Retraining Tax Credits.
For example, your client asks for help in
reviewing their paper-intensive accounts payable area and feels that it
could be streamlined by implementing new technologies. They are also relying on you to help decide whether they can afford to do it!
At first, they naturally only focus on their controller and accounts payable clerks. But you suggest they broaden the scope to include the entire end-to-end
procurement process. By reviewing upstream, downstream and
cross-stream processes, including purchasing, receiving,
inventory, mail room, and other areas, you know that they will have a greater opportunity to impact the business.
Your engagement utilizes "Lean" techniques such as value stream mapping, 5S, and
other tools. You help them find the right mix of new technology and new methods. Your deliverables include reviewing the current business
processes, developing new business methods, developing training
materials, and conducting employee training.
Many of these activities, including your professional service fees, would count in helping your client qualify for the retraining tax credit.
What's the result? Your client benefits from the increased productivity and the retraining tax credit $$. And your practice wins by providing high-impact services that strengthen your client relationships.
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Give Your Clients a Process Attitude -- Part I
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Building on what Jim said about providing business advice to clients for tax credits: why not teach them how to fish?
What ?!?! Not real fish -- but you know what I mean -- give them the tools to generate more business improvements ideas for themselves. It will make your job much easier in helping them implement changes, and it will increase your effectiveness at providing advisory services.
Your clients will be in a better position to create improvements in their business if you can help them establish a "Process Attitude" toward their business. Here's how:
- Start with business changes already planned or required
- Analyze impacts upstream, downstream, and cross-stream
- Refine/expand planned changes
- Train and implement
- Evaluate
- Standardize and search for new opportunities
You now have the framework for handling most, if not all, new technology and process changes. It's also a documented process for obtaining retraining tax credits for your clients' efforts!
Next month -- Give Your Clients a Process Attitude -- Part II.
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About Us
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Alpharesults has assembled a team with the specialized knowledge and approach required to obtain Georgia income tax credits. We are not a public accounting firm. Rather, our services complement those of public accounting firms and do not create conflicted loyalties, because our professionals do not perform attestation work or other external audit functions.
We focus on small to medium-sized businesses and work exclusively in Georgia with a wide variety of in-state and out-of-state accounting firms. For more information on our services, follow this link.
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