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Tax Credits
Tax credits are like IRS gift cards. They are a dollar-for-dollar reduction of actual tax liability. A “write-off” or eligible business expense reduces an individual or business’ net income, which reduces how much income they need to pay tax on, but a tax credit is a bottom-line elimination. If you have a $500,000 tax bill and $500,000 of tax credits, your new tax bill is zero.
Tax Credits = IRS Gift Cards
Tax credits are like IRS gift cards. They are a dollar-for-dollar reduction of actual tax liability. A “write-off” or eligible business expense reduces an individual or business’ net income, which reduces how much income they need to pay tax on, but a tax credit is a bottom-line elimination. If you have a $500,000 tax bill and $500,000 of tax credits, your new tax bill is zero.
Maximize your credit
The only thing stopping a business that is currently getting $50,000 worth of credits using their tax preparer or AI-only solution from getting $500,000 of credits, is the ability to defend $500,000 of credits. There are a lot of AI solutions that connect with your payroll software, pull some line items, and calculate a credit. Other businesses just use their tax preparer to calculate and claim their credits. Those are totally legitimate solutions for getting some credit, but not for maximizing your credit since those other solutions don't have the ability to identify, and defend, an increased amount of credit.
We joke at B10 that we use “AI squared” to calculate our credits. That is because, in addition to artificial intelligence, we use “actual intelligence.” Our expert team is comprised of tax and business process professionals that have exclusively focused their careers on identifying and defending tax credits. B10 hires only the best credentialed professionals. Our team knows how to dig into a clients’ business to extract, and defend with an extensive study, legal, and tax analysis, the maximum amount of credit possible.
Research and Development Credits (R&D)
A 20-minute phone call could lead to $50,000+ in credits and refunds from the IRS for your business.
Employee Retention
Credits (ERC)
We can help you claim up to $33,000 per employee from the IRS through this widely undiscovered program.
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