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Tax Incentives for the Retail Industry

At KBKG, we know that Retail Industry firms face many challenges. The ever-changing tax landscape can be burdensome and complicated. We recognize that Retail 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, Repair vs. Capitalization Review, 179D Tax Deduction, Cost Segregation / Fixed Assets, 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 Retail Industry firms claim tax incentives.

Retail 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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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.

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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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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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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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Retail Industry Tax Insights

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