Tax Credits & Incentives for Manufacturers
Maximize available tax benefits with our specialized tax credit and incentive strategies for manufacturing businesses.
Key Benefits of Our Tax Credit & Incentive Services
Maximize Tax Savings
Our specialized approach identifies and captures all available tax credits and incentives, significantly reducing your tax burden and improving cash flow.
Industry-Specific Expertise
We understand the unique tax incentives available to manufacturers, including those for R&D, equipment investments, energy efficiency, and workforce development.
Comprehensive Documentation
Our thorough documentation process ensures your tax credit claims are well-supported and can withstand scrutiny in case of an audit.
Manufacturing Tax Credits & Incentives We Specialize In
Research & Development (R&D) Tax Credits
Many manufacturing process improvements and product developments qualify for valuable R&D tax credits. Our specialized approach has helped clients claim an average of $135K annually in R&D credits.
- •Process improvement initiatives
- •New product development
- •Quality improvement efforts
- •Manufacturing technology enhancements
Section 179 & Bonus Depreciation
Accelerate tax deductions for equipment purchases and facility improvements with these powerful incentives. We help you strategically time investments to maximize tax benefits.
- •Manufacturing equipment purchases
- •Facility improvements and expansions
- •Technology investments
- •Strategic timing of capital expenditures
Work Opportunity Tax Credit (WOTC)
Receive tax credits for hiring individuals from targeted groups that have faced barriers to employment. Our screening and documentation process maximizes these credits.
- •Veterans
- •Long-term unemployed individuals
- •Vocational rehabilitation referrals
- •Other qualifying groups
Energy Efficiency Tax Incentives
Reduce your tax liability while lowering energy costs through various energy efficiency incentives available to manufacturers.
- •Energy-efficient building improvements
- •Solar and renewable energy investments
- •Energy-efficient equipment upgrades
- •Combined heat and power systems
Our Tax Credit & Incentive Approach
Comprehensive Assessment
We conduct a thorough review of your manufacturing operations, investments, and activities to identify all potential tax credit and incentive opportunities.
Strategic Planning
We develop a customized tax incentive strategy that aligns with your business goals and maximizes available benefits, including timing recommendations for investments and activities.
Documentation & Substantiation
We implement robust documentation processes to substantiate your tax credit claims, including activity tracking, expense allocation, and required certifications.
Implementation & Compliance
We prepare all necessary tax forms and supporting documentation to claim your credits and incentives, ensuring full compliance with tax regulations and requirements.
Success Story
Advanced Composites
Plastics & Composites Manufacturer
"Schapira CPA's tax credit expertise helped us claim over $275,000 in R&D credits for our process improvement initiatives that we didn't realize qualified. Their documentation process made the entire experience smooth and worry-free."
Ready to Maximize Your Tax Savings?
Schedule a consultation with our manufacturing tax specialists to discover how our tax credit and incentive strategies can benefit your business.
Frequently Asked Questions
What manufacturing activities qualify for R&D tax credits?
Many manufacturing activities qualify for R&D tax credits, including process improvements, new product development, quality improvements, automation initiatives, and testing new materials or technologies. If your company is developing or improving products, processes, or formulas, you may be eligible for significant R&D tax credits.
How far back can we claim tax credits we missed in previous years?
For federal tax credits, you can generally amend returns up to three years from the original filing date. This means you may be able to claim missed tax credits for the past three tax years. Some state tax credits may have different lookback periods. We can help you identify and claim these missed opportunities.
What documentation is needed to support tax credit claims?
Documentation requirements vary by credit type, but generally include records of qualifying activities, expenses, and their connection to your business. For R&D credits, this includes project documentation, payroll records for involved employees, and expense tracking. For equipment incentives, purchase documentation and placed-in-service dates are critical. We help implement documentation systems that make this process manageable.
Are there state-specific tax incentives for manufacturers?
Yes, many states offer additional tax incentives specifically for manufacturers, including investment credits, employment credits, training incentives, and property tax abatements. These vary significantly by location. Our team stays current on state-specific opportunities and can help you maximize both federal and state tax incentives for your manufacturing business.
