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Tax Incentives for the Government Contractors Industry

At KBKG, we know that Government Contractors Industry firms face many challenges. The ever-changing tax landscape can be burdensome and complicated. We recognize that Government Contractors companies have an increased need for new cash flow sources through tax deductions and the effective use of tax credit programs.

We offer Research and Development (R&D) Tax Credits, 179D Tax Deduction, Cost Segregation / Fixed Assets, IC-DISC, and Employee Retention Tax Credit services to keep our clients up to date on what's affecting their industry.

Our experts are highly knowledgeable and have many years of experience helping Government Contractors firms claim tax incentives.

Government Contractors Industry Tax Saving Opportunities

Research and Development (R&D) Tax Credit

Federal credit worth approximately 6.5% of wages related to designing, developing and improving processes, formulae, and software.

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179D Incentive for Energy Efficient Buildings

Federal deduction worth $1.80 per square foot of energy efficient buildings. Available to architects, engineers, design/build contractors and building owners.

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Employee Retention Tax Credit (ERTC)

The refundable credit is available from March 13, 2020 through September 30, 2021 and can be utilized even if companies received PPP loans. For 2021, there is a maximum credit of $7,000 per eligible employee, per quarter.

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Cost Segregation for Buildings & Improvements

Any building improvement over $750,000 should be reviewed for proper classification of the individual components for tax depreciation.

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Fixed Asset Review

Evaluating a company's entire fixed asset schedule will identify assets that can depreciate over a shorter tax life. Taxpayers utilizing the book method of accounting for tax are not maximizing their available deductions.

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IC-DISC

The Interest Charge Domestic International Sales Corporation (IC-DISC) offers significant Federal income tax savings if designing a foreign building.

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Government Contractors Industry Tax Insights

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