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Alpha-Mail                                               logo web sm 12mb
 A Tax Professional's Guide to Credits and Incentives, Courtesy of Alpharesults
 Vol. IX No. 10 October 2015
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In this issue
Year End Tax Planning and Obamacare
Spotlight on New Hampshire Credits and Incentives

Hello!

Welcome to Alpha-Mail, the monthly newsletter about tax credits and incentives for tax professionals.

This month, learn more about how you can use year end tax planning and Obamacare requirements to help your clients find tax credits!  Also, some of you may have clients who own businesses in New Hampshire, so be sure to see our overview of New Hampshire credits and incentives. We hope you can use this information to strengthen your client relationships! 
 
Thank you for reading Alpha-Mail -- please click reply to tell us what you think.
 
All the best, 
Dale&JimSigsSM1     
 Dale Stapler    Jim Tinsley
     Alpharesults, LLC 
 
 
 

Year End Tax Planning and Obamacare                      
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Now that the October 15 tax deadline has passed, I hope you are rested and back to work! The next big things on your plate are year-end tax planning with your existing clients and reaching out to prospective clients.

While you discuss upcoming tax liabilities with a client, you can also point out how much they can save with tax credits. What does that have to do with Obamacare?

The bad news:  the ACA (Affordable Care Act) requires additional reporting by every company with 50 or more full time employees (called "Applicable Large Employer," or ALE). Click here for details.

The good news: based on our experience with thousands of retraining tax credit (RTC) projects over the past 13 years, companies with 50+ employees almost always have qualifying activities for Retraining Tax Credits!      
 
The following may help with your client discussions:
  • Last year: Any changes to their business or related software? How about head count increases? Any expansions, new locations or large capital expenditures?
  • This year: Same as above and any plans for November or December
  • Next year: What are they planning to do?
So you see, the Obamacare reporting requirements are a great leading indicator for tax credit opportunities.  Bottom line: ALE = $RTC. Good luck as you reach out, find out, and help out with tax credits. 

 
JimSig  

New Hampshire Credits and Incentives            
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As we've mentioned before, our Georgia clients frequently ask us to investigate potential credits and incentives in other states where they have operations, potential acquisitions or strong relationships with customers or vendors. In addition, private equity groups ask us about potential $$ for their portfolio companies.
 
We were recently asked about credits and incentives in New Hampshire, and their state economic development professionals gave us some details (New Hampshire Economic Development site click here).
 
New Hampshire offers very few tax credits, grants or loan programs for new and existing businesses.  CNBC ranked New Hampshire #30 in their 2015 America's Top States for Business survey (Georgia was #5 in the same survey).    
 
Incentives and credits include:  
 
The New Hampshire Research and Development Tax Credit enables businesses to apply for tax credits on new research and development costs they can use toward business taxes paid. The credit can be carried forward for up to five years.

The Economic Revitalization Zone tax credit offers a short term business tax credit for projects that improve infrastructure and create jobs in designated areas of a municipality.

The Coos County Job Creation tax credit is awarded to businesses hiring employees for new, full-time positions that pay wages 200 percent higher than the minimum wage.

Other incentives include the New Hampshire Job Training Fund (50/50 cash match grant $750 to $100,000 for customized training) and a few revolving loan funds.  
 
Compared to Georgia, New Hampshire has:
  • Higher corporate and lower personal income tax rates.
  • A far far narrower range of incentives.
  • Pre-approvals required for all incentives
To summarize, New Hampshire is below average for business tax incentives.  But their Eastern Seaboard location could provide advantages, depending on logistical needs.  
 
Do any of your clients have New Hampshire connections?  If so, you will need to start collecting information and planning early!
 
 
DaleSig
   
 

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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Contact Information
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email:  alpha-mail@alpharesults.com                   phone: 770-667-1332
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