At Slater Moffat Associates, our team of highly trained professionals will help you to identify and take full advantage of tax credits offered at the federal, state and local government level. Our CPA's and Tax Credit Specialists will prepare a tax credit study to determine eligibility for various tax credit programs.
Often times, we will identify tax credits that businesses were unaware they were eligible for or didn't pursue as they were unsure how to navigate through the complex nature of tax credit incentive programs. The tax credit study is prepared with minimum involvement from our clients. We prepare the study from start to finish working with taxing authorities and credit administrators. We also retain the documents involved in the tax credit study in the event of an audit. We offer the following services:
Research and Development Tax Credits
To encourage American investment in innovation, there is a research and development (R&D) tax credit opportunity. If you conduct a business and have devoted time and resources to develop or improve a product or process, then the expenditures you incur may be eligible for this credit. There are several potentially qualifying activities. Some examples include automating or improving internal manufacturing processes, creating improved processes or products, and testing new concepts. We can evaluate your circumstances to determine if you qualify for this credit. We can assess the amount of the potential credit and your ability to utilize the tax credit to reduce past, current, and future year's tax liabilities. The Federal and California credits are available to claim on tax years still open under the statute of limitations.
Sales Tax Credits
Slater Moffat Associates, LLP works closely with lending institutions to recoup sales tax paid on loans that have gone bad. If your company finances large taxable sales in California and the loans default, Slater Moffat Associates, LLP may be able to help you recover sales tax paid on those loans. Recovery of sales tax paid can be in the form of a credit or refund. When consumers default on loans, even if payments have been made toward the purchase price, a portion of the sales tax paid on those loans by lending institutions and retailers may be recoverable.