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Tax Incentives for the Transportation Industry

At KBKG, we know that Transportation Industry firms face many challenges. The ever-changing tax landscape can be burdensome and complicated. We recognize that Transportation 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, Cost Segregation / Fixed Assets, Transfer Pricing, 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 Transportation Industry firms claim tax incentives.

Transportation 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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Transfer Pricing

Cross-border transfer prices drive how much income tax a multinational company pays by country. Transfer pricing (TP) regulations apply to the intercompany prices of goods, services, royalties, and loans across all industries.

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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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Get a Free Download of this Cost Segregation Case Study

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Transportation Industry Tax Insights

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Our team of experts are well-versed in their respective fields and are able to answer most any question.