Frequently Asked Questions

The R&D tax credit is a tax incentive offered by the federal government to encourage businesses to develop new and improved products and processes. The ultimate purpose is to keep the U.S. competitive in the global marketplace.

The R&D tax credit directly addresses the two main challenges businesses face when it comes to research and development—it’s risky and expensive. Research can place a financial strain on a business because it typically requires high-paid staff to conduct it, as well as plenty of dedicated time. Many businesses also find that they must engage third-party research institutions or vendors in order to complete the work. All these things consume precious resources that businesses—especially smaller ones—can struggle to meet. And after all that expenditure of time, money and resources, there’s no guaranteed outcome of success.

Learn more or schedule your discovery call today.

As defined by the IRS, the ERC is a refundable tax credit against certain employment taxes equal to 50% of the qualified wages an eligible employer pays their employees. It is designed to encourage businesses to retain employees during the Covid-19 pandemic.

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Want to see if you qualify? Click here!

A cost segregation (“cost seg”) study is an in-depth engineering analysis of the depreciating value of long-term fixed assets, like newly constructed buildings, property acquisitions, and renovations. From this data, companies can accelerate tax deductions and improve their cash flow.

Learn more about Cost Segregation

The 45L tax credit provides a $2,000 credit per new energy-efficient home or dwelling unit to eligible contractors who built energy-efficient housing between August 8, 2005 and December 31, 2021.

Find out more about the 45L energy-efficient home credit and how Tri-Merit can help you make a claim.

The Section 179D energy efficient commercial buildings deduction was created and implemented as part of the Energy Policy Act of 2005, acknowledging commercial buildings’ significant role in U.S. energy consumption. In a bid to reduce energy consumption, the federal government wanted to encourage the design and construction of energy-efficient buildings, providing an incentive in the form of a tax deduction.

Section 179D allows the building owner to deduct from the costs of energy-efficient improvements in three areas:

• Lighting
• Building envelope
• HVAC and hot water systems

 

Learn more about Section 179D

If you haven’t received your CPE credits from a qualifying webinar, please contact us and we will get back to you shortly.

Work with Tri-Merit today, and you have the peace of mind that your tax credits and deductions can hold up against the most stringent IRS audit. Our team maximizes your or your clients’ tax savings while requiring minimal effort on your part.

We’re the trusted specialty tax experts because our team:

• Boasts Advanced Technical Expertise – Tri-Merit has a detailed understanding of the latest IRS rules and regulations as applied to various industries. Whether you need assistance in R&D tax credits or cost seg studies, trust Tri-Merit to deliver quality work.
• Makes Everything Easier –With a streamlined and systematic tax preparation method, Tri-Merit makes it incredibly easy to reduce your or your clients’ tax burden. Whether you’re a CPA firm looking to outsource or a company that needs tax experts, we will align our processes with yours.
• Assumes the Risk – Tri-Merit assumes the risk and will defend your study if an audit should occur.

Discover how much you can save from your taxes. Get in touch with us today.