In the early spring is when many California businesses start to look for a corporate tax planner. Los Angeles companies will want to find an expert Long Beach CPA who is knowledgeable about all of the local, state and federal tax laws, and who is up-to-date with recent legislation concerning corporate taxes, in order to be able to take advantage of every applicable tax credit to which your corporation may be entitled this tax season.
Corporate Tax Planning—Los Angeles Enterprise Zones
A Long Beach CPA can advise you about your location in an enterprise zone and how this can affect your corporate tax planning. Los Angeles is home to some of the state’s forty-two enterprise zones, and if your company resides in one of these zones, it can have an impact on corporation tax planning. Los Angeles enterprise zones have been developed in order to bring businesses to areas that are economically challenged, and thus to bring jobs to people living in these areas. If your company hires employees who live in the enterprise zone and who qualify as one of several different people groups including qualifying disabled veterans and those on public assistance, then your company will earn a hiring tax credit, which will have a definite impact on your corporation tax planning. Los Angeles businesses may earn up to $13,000 per employee annually who qualify for this incentive, and a Long Beach CPA who is knowledgeable about these credits can advise you.
Corporation Tax Planning—Los Angeles Energy Tax Credits And Your Company
With the help of a top corporate tax planner, Los Angeles companies can take full advantage of energy tax credits that are available in the state of California. If your corporation has made an investment in renewable energy technology, which could include the addition of wind generators, photovoltaic systems, solar water heaters or geothermal heat pumps, these would be eligible for energy tax credits, which will have a definite impact on your corporation tax planning. Los Angeles businesses can also reap tax credits when their business vehicles are hybrids, running on electric and gasoline engines and using renewable fuel sources such as ethanol. If you are located in an enterprise zone, your business may also be eligible for a sales and use credit of up to ten percent of the cost of water and air pollution equipment or manufacturing and processing equipment that is installed at your company, which you will want to add to your corporate tax planning. Los Angeles corporations can save a great deal of money in these ways, while doing their part to preserve the environment.
For a great corporate tax planner, Los Angeles companies will want to turn to a Long Beach CPA with experience dealing with these types of tax credits, in order to receive the most help with your taxes this year.…