Increasing Your Returns in A Changing Environment

With tax season wrapping up, now is a great time to evaluate your business plans for tax incentive opportunities. In an ever-changing economic environment, the various incentive opportunities can support your business growth, development needs and ambitions. Some of the questions to ask when exploring these opportunities include:

1. Do you have any significant upcoming capital expenditures? Are you planning any new equipment purchases? Are you considering building renovations or expansions

2. What do your hiring plans look like for the next few years? Do you needs related to your workforce? Is training an important part of your business?

3. Are you looking at growth in other states? Have you started that process? What are some needs that your growing business has?

4. Does your business conduct any Research & Development (R&D) related activities? Has anyone ever performed a review of your Fixed Assets to find potential ways to save?

Determining which incentives you may qualify for can be challenging, but if you answered yes to any of the questions above, there are likely opportunities that could help you achieve your business goals and generate cash flow for your project. Some of these could include credits, cash grants, forgivable loans/low-interest loans, training reimbursements, property tax abatements and other tools.

If you have interest in exploring specific opportunities that your business may qualify for, it might make sense to partner with a trusted advisor who can determine which incentives you may qualify for and how to navigate through that process. Eide Bailly can help navigate these projects from start to finish, assuring that you’re using all the benefits and incentives available to your business. ABI