Partnering with CPA firms, McGuire Sponsel offers R&D Tax Credits, Cost Segregation, IC-DISC, and Credits & Incentives. McGuire Sponsel strengthens client relationships by offering a conservative, methodical approach to delivering tax services that fall outside the traditional practices of regional CPA firms. McGuire Sponsel is committed to providing high-quality service with integrity in a way that helps partner firms bring value to their clients. Our approach has allowed us to become a trusted resource to CPAs across the country, with a strong track record with the IRS.
Cost Segregation Case Study
McGuire Sponsel was recently referred to a boat manufacturer by a CPA firm in Tennessee. The boat manufacturer had just completed a remodel and addition for their manufacturing facility totaling $3.6 million. This facility is located just outside of Nashville, TN. McGuire Sponsel was able to reclassify assets so they depreciate over 15, 7, and 5 years instead of all assets being placed into 39 year depreciable life. McGuire Sponsel professionals were able to reclassify 53 percent of the total depreciable property. The accelerated depreciation deductions resulted in an increased cash flow of $502,408 over the first year and a net present value of $300,710 over the life of the investment.
R&D Case Study
A Nashville technology company engaged McGuire Sponsel to conduct a four-year R&E tax credit study. The company codes, designs, and implements technology for immersive video displays and integrated audio solutions. McGuire Sponsel conducted on-site fieldwork at the client’s facility, prepared credit calculations and draft tax forms, and delivered a written technical report. During fieldwork at the client’s facility, McGuire Sponsel professionals introduced the client to the R&E credit criteria and worked with the client to gain an understanding of the company’s structure, development process, and projects. Through on-site interviews with programmers, designers, and technical management, McGuire Sponsel professionals were able to gain an in depth understanding of the client’s company structure and research activities, which resulted in identifying more qualified research expenses than were expected and efficiencies built for future R&E studies. The final effective credit calculated over the four-year period was $234k, which exceeded total projections by $80k and will be used to offset the company’s income tax liability.
Mike Hammel, Consultant
Mike’s three year tenure with the firm has generated tax savings in excess of $15 million for clients.
Contact Mike today to see how McGuire Sponsel can be a powerful resource in Cost Segregation, R&D Tax Credits, IC-DISC, and Credits & Incentives.
Contact Mike Hammel