Credit & Incentives

Reaping the benefits of a never-ending array of federal and state tax saving opportunities

When it comes to minimizing your tax burden, the most important tools available to taxpayers are federal and state tax credits, incentives and deductions. These range from research and development credits to credits for energy-efficient homes to child day care assistance credits and more.

Tax credits, incentives and deductions can be used for businesses in start-up modes to encourage investors to participate in low-income housing opportunities or even for plugging abandoned oil wells. As policies and priorities shift at both the federal and state level of government, legislators are continually crafting and bringing new tax credit opportunities to life.

Taxpayers seek assistance to address key challenges like:

  • Discovering tax credits, incentives or deductions that may be available when pursuing business or individual wealth growth and preservation
  • Assessing the applicability and taxpayer qualifications for sizing available tax-advantaged opportunities
  • Reviewing previous years’ tax returns to assess whether opportunities have been missed and those that can be recovered
  • Performing any required studies and producing reports for tax authorities, for example, R&D credits or cost segregation reports
  • Preparing or amending tax forms
  • Defending the applicability and qualifications of the taxpayer before tax authorities

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A CLIENT’S PERSPECTIVE…

“When Adams Brown did my taxes, my advisor shared that I was able to apply for the PPP loan. I did not think I was, but was she was correct! She emailed me the form I needed to get it started. Very thankful!”

Terri Johannsen – Lyons, KS

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Credits & Incentives Solutions

Businesses and individuals often need assistance in discovering, assessing and applying the vast array of federal and state tax credits, incentives and deductions.  Here are some examples of the federal and State of Kansas tax credit opportunities we investigate on behalf of clients:

Federal tax credits

  • Alternative Fuel Vehicle Refueling Property Credit
  • Alternative Motor Vehicle Credit
  • Credit for Contributions to Selected Community Development Corporations
  • Credit for Employer Social Security and Medicare Taxes Paid on Certain Employee Tips
  • Credit for Employer-Provided Childcare Facilities and Services
  • Credit for Increasing Research Activities
  • Credit for Small Employer Pension Plan Startup Costs
  • Empowerment Zone and Renewal Community Employment Credit
  • Energy Efficient Home Credit
  • General Business Credit
  • New Markets Credit
  • Qualified Plug-in Electric and Electric Vehicle Credit
  • Qualified Railroad Track Maintenance Credit
  • Renewable Electricity, Refined Coal and Indian Coal Production Credit

Kansas State Tax Credits

  • Employer Health Insurance Contribution Credit
  • Environmental Compliance Credit
  • High Performance Incentive Program (HPIP)
  • Historic Preservation Credit
  • Investment Tax Credit
  • Kansas Enterprise Zone Act
  • PEAK
  • Petroleum Refinery Credit
  • Promoting Employment Across Kansas Credit
  • Research and Development Credit
  • Rural Opportunity Zone Credit
  • Swine Facility Improvement Credit
  • Telecommunications and Railroad Credit
  • Training and Education Tax Credit

 

Industry Specialties for Tax Credits & Incentives