When Should Manufacturers Update a Predominant Use Study?
Many manufacturers unknowingly pay sales tax on utilities that may qualify for exemption under state manufacturing rules. A predominant use study…
Tax Incentives for the Communications & Utilities Industry
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Communications & Utilities Industry Tax Saving Opportunities
Research and Development (R&D) Tax Credit
Federal credit worth approximately 7% to 10% of qualified research expenditures related to designing, developing and improving processes, formulae, and software. State R&D tax credits may also be available, allowing eligible companies to maximize their tax benefits.
Cost Segregation for Buildings & Improvements
Any building acquisition or/and improvements over $1.5M should be reviewed for proper classification of the individual components for tax depreciation.
Repair vs. Capitalization Review §263(a)
Taxpayers often capitalize major building expenditures that could be claimed as current year deductions for repairs and maintenance such as HVAC units, roofs, parking lots and more.
Fixed Asset Review
Evaluating a company's entire fixed asset schedule to identify assets that can be optimized for federal and state tax purposes. Taxpayers utilizing the book method of accounting for tax are not maximizing their available deductions.
IC-DISC
The IC-DISC is a federal tax incentive that provides significant, permanent tax savings for U.S. companies that export.
Negotiated Incentives
KBKG helps businesses secure and maximize state and local incentive programs that reduce project costs and improve long-term return on investment.
Predominant Use Study
These studies determine the percentage of utilities used in qualifying processes, enabling businesses to claim important sales tax exemptions and reduce operating costs.
Communications & Utilities Industry Tax Insights
Questions to Ask Before Hiring an R&D Tax Credit Provider
Selecting an R&D tax credit provider is a risk-management decision. A research tax credit claim may ultimately be reviewed by the IRS or a state…
KBKG Tax Insight: How to Allocate Land vs. Building Values for Investment Property
Follow KBKG on Social Media Linkedin Facebook X-twitter Youtube See If You Qualify Allocating an investment property’s purchase price between land and depreciable improvements directly affects the deductions available to the owner. Land cannot be depreciated, while buildings and qualifying site improvements may be depreciated over their applicable recovery periods. Purchase