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Tax credits are a critical component of optimizing business profitability and finding offsets for the ever-increasing costs of benefits. Are your clients leveraging the Worker Opportunity and R&D tax credits that may apply to them? Most business fail to utilize these credits to their full extent, leaving thousands upon thousands of dollars on the table. Typical R&D tax credit studies return an average of approximately $30,000 for every $1MM in payroll! Eligibility extends back 3 years – so there’s urgency in providing your clients with this incentive. Click on the image to watch a brief video.

In addition to leveraging tax credits, your clients can take advantage of interest only loans up to and exceeding $1MM to build a superior nest egg. Deposited into an Index Account, the funds grow free from market risk – tax deferred. The proceeds supplement retirement income. At the owner’s death, the loan is repaid and any remaining amount is distributed to the beneficiaries.

These are just a few of the novel strategies that are critical to retaining benefits clients in an increasingly competitive and costly market. To learn more, contact us.

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The Manufacturing Incentives (R&D Tax Credit) benefit is a federal program designed for your clients that perform manufacturing in the U.S. This program is listed under Section 41 of the IRC (Internal Revenue Code)  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. Targeted industries include Manufacturing, Engineering, Software, and Chemical & Pharmaceutical companies.

The National R&D Tax Credit average is over $25,000 per $1,000,000 in total company payroll. This can help your clients to appreciate your value and free up valuable funds for other products or services you may want to sell them. Minimum requirements include that the business has at least $1.5M in annual payroll and has paid Federal taxes within the last 3 years or plans to in the current year.

To learn more about the R&D Tax Credit and other opportunities for you and your clients and prospects, meet with Chelten Benefits Group.

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