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Case Studies Savings

Capture Business Tax Credits & R&D Savings

  • Below is a brief summary of tax incentives you may be missing out on:

    Commercial Building Tax Deduction
    Tax deduction for expenses incurred for energy efficient building expenditures

    Engineering-based Property Cost Allocation
    Recover costs through deprecation of tangible property used in the operation of a restaurant business.Qualified Items Include: Beverage Equipment, Storage Area, Furnishings, Bar Area, Flooring, Lighting, Wiring, Sound System, and Kitchen Area

    Employee Tax Credits
    Local, State, and Federal Incentives to hire and retain employees. Available credits up to $9,000 per qualified new hire.Credits are available for employees in the following categories: Those living in Empowerment Zones, Young Adults, Wounded or Disabled Veterans, Food Stamp Recipients, and those receiving Supplemental Security Income

    Commercial Property Tax Reduction
    Reduction available on both Personal and Real Property Taxes paid.

    Section 179
    Can take an increase in deduction up to $35,000 of the cost of eligible equipment purchases

    The above is merely a brief list of some of incentives you could benefit from if you are a restaurant owner. The easiest way to determine your qualification is to ask an expert.
  • You are a small business owner who owns and operates a restaurant. Your time is consumed with ensuring tables are turned and your business is moving forward. You do not have time to research specialized tax incentives let alone determine if you qualify. You are not uncommon.
  • Tax Incentives / Credits Every Medical Facility Owner Should Consider

    Cost Segregation
    Section 179 D
    Property Tax
    Historical Tax Credits
    Section 45L Tax Credit
    R&D Tax Credits
    Hiring Tax Credits

    This is just a short list of possible tax incentives and credits available to Health Care Providers. The easiest way to determine if your organization would qualify for tax incentives or credits is to ask an expert.
  • Successful health care providers, from individual practices to large entities, are constantly faced with the decision of when and how to invest in their own businesses. The most important factor being, the total cost of the investment, including the potential tax benefits.
  • The most immediate reply to this statement is, “If it is that simple, why have I not heard about this before?”. Simply put, tax incentives and credits are confusing and most CPA’s are unable to fully capture the available incentives and credits for their clients.
  • The most immediate reply to this statement is, “If it is that simple, why have I not heard about this before?”. Simply put, tax incentives and credits are confusing and most CPA’s are unable to fully capture the available incentives and credits for their clients.
  • What if you were told that you as a Health Care Provider could receive funds for medical equipment, devices, computers, furniture, and other office or medical equipment? You would ask, “How?’. It is a simple process of taking advantage of tax incentives and credits made available specifically to your industry.
  • Our experienced team of professionals in mitigation, valuation, assessments, and law will work on your case to identify any potential opportunity for refunds and/or reductions in your current property taxes. We perform all the work on your behalf until savings are captured, including partaking in hearings and filing necessary paperwork. We act as an extension of your company toward the governing property tax bodies.
  • The immediate benefit is the reduction of taxes owed and the potential of refunds on prior taxes paid. The future benefits would similarly be a reduced tax burden going forward, producing an increased cash flow for the business.
  • Any Commercial Property Owner who pays over $50,000 per year in Real or Personal Property Tax is worthy of a free review to determine potential reduction opportunities.
  • As far back as 1796 there has been some level of property tax in the United States. By 1900, more than half of the states enacted clauses that required taxation of property. Over the past hundred years, local governments, municipalities, townships, school districts, and other bodies have enacted specific methods for the calculation of property tax in their jurisdiction. This has led to innumerable protests and legal mitigations that continue to this day.
  • Outside of income taxes, the single largest recurring charge for commercial property owners are Property Taxes. In most states, owners are required to pay taxes on both their real estate as well as their personal property. These charges are often an immense expense and a constant hit to the bottom line. To be ensured you are not being overcharged on your Property Taxes, an industry specialist with extensive market experience in valuation, tax, and law should be retained.
  • By following this methodology, we qualify every applicable employee, activity, hour spent and corresponding wage paid in order to maximize the incentive for our client. We strictly adhere to the applicable sections of the code and provide first-in-class documentation to substantiate our findings.
  • GMG utilizes a team of highly qualified professionals including IP attorneys with engineering backgrounds and adheres to the Comprehensive Project by Project Approach methodology as required by the IRS.
  • The benefits of having an R&D Tax Credit Study performed would be: Dollar for dollar credit against taxes owed or previously paid, Carry forward credit for future profitable years, Immediate increase in company cash flow,
    Credit average is over $25,000 per $1,000,000 in total company payroll.
  • Manufacturing, Fabrication, Engineering, Software Developers, Chemical, Tool & Die, Machine Shops, Plastics Manufacturers, Pharmaceutical, Biotechnology, Food Sciences/Manufacturers
  • Who and what qualifies as research and development (R&D) is much broader than most realize. Activities and costs related with developing or improving a product and/or process often qualify for R&D tax credits. Furthermore, engineering, design, testing, and programming are now included as Qualified Research Activities (QRE). Industries that most commonly qualify are:
  • This is an engineered based program that focuses on a company’s operations and processes in order to determine their qualification for incentives. The Manufacturing Incentives benefit provides an avenue to receive ‘tax money’ back from prior years while also reducing current taxable income on a dollar-for-dollar basis.
  • The Manufacturing Incentives benefit is a Federal program designed for Companies that perform Manufacturing in the U.S. This program is listed under Section 41 or the IRC (Internal Revenue Code) and continues to be amended on an annual basis as the U.S. Manufacturing landscape continues to evolve.
  • An initial consultation along with a feasibility report is conducted to determine the cash flow and net present value (NPV) benefits. The consultation allows our professionals to evaluate your current tax status and your future business plans along with your CPA to determine if a study would be of benefit.

    The initial consultation is a simple and quick process. To schedule your consultation, please contact us (888) 813-1326.
  • GMG utilizes a team of highly qualified professionals adhere to the IRS recognized Detailed Engineering Approach to perform all Cost Segregation Studies. This methodology maximizes benefits and assures that IRS guidelines are followed.
  • According to the U.S. Treasury Department, “Cost Segregation Studies are a lucrative tax strategy that should be considered in almost every real estate purchase.” An average Cost Segregation Study offers approximately $150,000 in additional depreciation per $1 million dollars in purchase or construction cost over the normal 39 year straight line method.
  • Any commercial property owner who has done the following since 1987:
    Purchased a commercial building or facility
    Constructed a new commercial building
    Renovated, remodeled, restored or expanded an existing facility
    Paid for facility leasehold improvements
  • Engineering based cost segregation studies permit commercial real estate owners to reclassify real property for depreciation purposes and reclassify it as more rapidly depreciating personal property. This reclassification results in significant cash flow benefits in both present and future years through considerably shorter depreciable tax life and accelerated depreciation methods.
  • Commercial property owners use cost segregation studies to identify and reclassify personal property assets to shorten the depreciation time for taxation purposes thus reducing current income tax obligations.
  • GMG provides our clients with the highest industry recognized level of service and a single solution to capture the broadest range of federal, state and local tax credits and incentives. We structured our organization and processes to meet all of the challenges commonly experienced by companies attempting to capture financial savings.
  • 4. Energy Inefficiency
    Is the building energy efficient? Will the state or federal government require it to be? How much are the utilities truly going to cost?

    Utilities are a bottom line expense and often completely out of the owners’ control. Most in the medical community have no knowledge of how to manage this expense. Even fewer are privy to the conservation products on the market. If you are unfamiliar with terms such as: Energy Metering, Power Factor Correction, Kilowatt-hours (kWh), or Demand Rate; you definitely should not own a commercial property.

    In conclusion, property ownership is not for the faint of heart. If you own property or are thinking about jumping into this world, you should consult a firm with expertise in all of the areas listed above to ensure your investment will perform as intended.

    If you would like more information on how to maximize your investment through tax strategies and energy conservation products, there are free consultations available for you
  • If you or your CPA has not aligned yourselves with outside expertise in specialized areas such as: Procurement of Tax Incentives, Accelerated Depreciation, Property Valuation, and Energy Efficiency Incentives – you should not own commercial property.
    This leads us into…

    3. End Up Paying Way too Much in Taxes
    The government has done a reasonable job at providing tax incentives for property owners. The problem; they don’t know how to disseminate information to the beneficiaries. In other words, the government passes a bill and those that were intended to benefit don’t get the memo! Because of this, owners of property end up paying much more than they should in taxes. Additionally, property tax valuations across the nation are completely out of whack due to the recent recession. Properties are simply not worth the amount they are being assessed. If you are not an expert in property valuations and assessments, you either need to find one or stay out of commercial property ownership.
  • Commercial property can often be a great investment for those in the medical community. Many ponder whether or not to enter the world of property ownership. Others are property owners and have the property tax bills to prove it!

    After spending more than a decade in commercial property consulting, we have identified four common reasons why Medical Practitioners should not own commercial property:

    1. Too Successful in their Field
    Due to the highly specialized training and education necessary to participate in the medical field, most practitioners are solely focused on the business of medicine leaving no time to focus on the business of business. Often those in the medical arena find success and thus fail to focus on the financial components of their practice. Remember, the success of your practice is due to the team you have in place with each member playing his or her part. Likewise, a full team of specialists is required to maximize your investment in commercial real estate.

    2. Lack of Tax Knowledge
    Have you ever uttered the phrase, “My CPA handles my taxes?” If so, you should not own commercial property.

    When it comes to the unique tax issues that revolve around property ownership, you need a diverse financial consulting team in place. Many owners do not have enough information even to choose the correct entity structure for their property. Those in the medical community are highly educated in the specialized areas of their practice however, extremely limited in taxation acumen. To compensate for this, they often blindly trust their CPA representation to handle all financial matters. Unfortunately, CPAs lack expertise in the specialized areas of the tax code as it pertains to commercial property ownership.
  • Jeremy Harrison of Growth Management Group interviewed by Michigan Business Magazine about helping small and mid sized businesses find tax breaks and stimulus money.
    For many businesspeople, the word “stimulus” might as well be a four-letter word. For Flint-based Growth Management Group, tax incentives are no dirty word, but rather spell opportunities for businesses to find federal and state incentives to help their bottom lines.

    The company seeks out the tax incentives, energy savings and hiring incentives that businesses and many certified public accountants miss during their tax preparation. The company began in the mid 2000s as a lean consulting firm, helping manufacturers remain competitive. By chasing incentives that manufacturers left on the table, GMG stumbled upon a business opportunity as manufacturers in the state were battered by the economic downturn. Sales Manager Jeremy Harrison took time to speak with MiBiz about the 25-person firm and its role turning over the rocks in companies’ books looking for the untapped tax incentives there.

    MiBiz: How much is out there for companies in terms of untapped incentives?

    Harrison: We target the small to medium size business. The state and federal programs are called stimulus incentives when really they are tax based. If someone is getting ready to write a check (for taxes), they should be looking at every single program to help offset them. The areas of the programs are anywhere from commercial property owners to manufacturing research and development and payroll, such as the HIRE act. That is just part of the hiring incentives out there. There are hundreds of incentives that vary by state and by some municipalities. For our average client, we can save around $200,000. For some people, it is significant. For others it is a drop in the bucket. We don’t go after the GMs or Fords of the world — they’ve got their own teams of lawyers and accountan
  • Not only are we the largest in the Nation, We own this space! Formed in 2004 GMG’s slogan “Your Growth Is Our Business” is more then just a mantra, it’s a way of doing business. Our entire purpose is to help our clients grow, by creating economic stability and growth nationally through available programs that build business revenues.
  • Stryde & GMG is the Nation’s leading full-service stimulus consulting firm specializing in local, state and federal incentives. The industries We Serve are Commercial Property Owners, Manufacturers, Employers, Automotive, Hotels, Medical, Restaurants, Funeral Homes, and many other industries make up our portfolio of satisfied clients.
  • We have partnered with Stryde & GMG Savings to provide complete cost segregation studies, property tax recovery, energy tax incentive audits, hiring incentives, and manufacturing tax credit studies that have yielded over $300M in savings for clients to date.
  • In addition to providing complete plan documentation, LifeComp plans are fully administered so that they are properly handled on the business financials and kept on track to accomplish desired objectives. Now through its private plans LifeComp is offering two exciting programs that effectively use personal rather than business dollars
  • The LifeComp division is a part of Lincoln national life insurance company and has long been known for its suite of executive benefit plans. But it through the effective use of business dollars traditionally like ops nonqualified business life insurance arrangements that have been used to provide handsome supplement to the retirement incomes of business owners and selected key employees.