Prepare a Credits and Incentives Plan Early
For CPAs, the most important element for a business seeking incentives is timing. Correct timing can deliver tens of thousands of dollars in savings to a client.
The vast majority of incentives are discretionary and often require a “but-for” clause; in other words, were it not for the offered incentives, the company would not invest or would limit its investment in a new growth project. Therefore, CPA firms must communicate with a company before it even draws up a proposal. That way, incentive opportunities can be thoroughly vetted and analyzed, and the company can be advised to consider the best programs or tax savings tools.
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