To respond to this accelerated need for digital transformation, companies should lean on available federal and state tax incentives as a way to secure much-needed funding. A simple rewards program can tackle the most egregious offenders by offering incentives, but more comprehensive plans can be put in place to handle even smaller, everyday medical expenses.
This year, IT consultants are eligible for powerful tax incentives that can help fund their innovation efforts and keep their technical workers on staff. The $1.9 trillion stimulus package recently enacted by Congress and the Biden Administration has something in it for almost everyone, and IT consultants are no exception.
The Fourth Industrial Revolution is here, but the question is, will the United States be as influential as we have been in recent decades? Many would argue the opposite as we exit the top-10 index of global innovation.
Every business is adapting to a rapidly changing world. Water treatment companies, like many small and medium sized businesses right now, are looking for funding for the future so they can retain their employees, hire more technical talent and better serve their clients.
When it comes to creating safe environments, any compromise is unacceptable. The fastidious job of designing, programming and installing security systems is not one to be taken lightly, as one security solutions provider working with alliantgroup knows all too well.
The R&D Tax Credit: An Excellent Tax-Saving Opportunity for Security System Integrators and Solution Providers
Technology is taking over the security industry—and for industry executives, this shift offers a potentially valuable opportunity they may have never considered for their firms. From the growing connectivity of systems and mobile devices through the Internet of Things (loT) to the use of AI and automation to monitor cyber and physical security systems, the industry is in the midst of massive technological changes that will ultimately make us (and the confidentiality of our data) much safer.
It’s not often a company’s day-to-day services can lead to tax relief, but that’s the case for control system and process engineers. Designing and implementing systems that function efficiently is the main priority for these engineers. In order to do so, system enhancements continuously need to be developed, which more often than not means one thing: spending money.
From the growing connectivity of systems and mobile devices through the Internet of Things (loT) to the use of AI and automation to monitor cyber and physical security systems, the industry is in the midst of massive technological changes that will ultimately make us (and the confidentiality of our data) much safer. Along with enhancing our physical and cyber security, these technological advancements also qualify security companies (be they integrators or solutions providers) for one of the most valuable tax incentives available to U.S. businesses—the Research and Development (R&D) Tax Credit.
The passage of the Tax Cuts and Jobs Act has changed the playing field for U.S. businesses – and systems integrators are poised to benefit. From reduced rates for corporations and pass-throughs to new rules regarding popular incentives, the tax reform bill has created a host of new opportunities, and systems integrators should be planning now to best leverage these changes.