Let Us Develop A Blueprint For Tax Reduction
It's all in the fine details. Architecture firms are in a great position to claim federal and state research and development tax credits. With years of experience helping clients in the field of architecture, we stay up-to-date on the latest incentives available to you, including R&D credits and other tax benefits.
10 Important Tax Considerations For Architecture Firms
The architecture industry, renowned for its innovative designs and distinctive business models, faces a range of tax considerations that firms operating in this sector need to be aware of.
Here, we outline 10 that architecture firms should keep in mind.
Benefits of a specialized tax strategy for architecture firms:
Lower taxes and improved cash flow
By using deductions, credits, and incentives to lower taxes, an architecture firm can free up more cash for operations, investment, and growth.
Asset Depreciation
Architecture firms can recover the cost of valuable assets like computers, software, and office equipment over time and reduce taxable income with a well-structured tax strategy.
Research and Development Credits
Engaging in innovative design or technology development may qualify architecture firms for research and development tax credits, reducing tax liability.
Credits and Incentives
Some regions offer tax credits and incentives for energy-efficient and historically preserved architectural projects, resulting in substantial tax savings.
Succession Planning
For architecture firms planning for leadership transitions or ownership changes, tax strategies can play a critical role in minimizing tax consequences during these transitions.
Tax Services We Provide:
Specialty Tax
Expert guidance to navigate complex tax regulations, minimize tax liabilities, and stay ahead of tax law changes.
- R&D Credits
- Cost Segregation
- 179D
- 45L
- IC-DISC
- Automatic Accounting Changes
Tax Consulting
Highly valuable organizational strategy, planning, and training.
- Income Tax Reduction Strategies
- Entity Restructuring
- SECURE 2.0 Plan Optimization
- Balanced Compensation Advisory
- Valuation for Tax
- Passive Investment Strategies
- Pass-Through Taxation Enhancement
Wealth Advisory
Tax strategy, planning advice, and financial products for clients to grow and preserve their wealth while achieving their financial goals.
- 401(k) Optimization for Tax Credits
- Cash Balance Pension Plans
- Executive Compensation Planning
- Executive Benefits Planning
Risk Advisory
Highly valuable organizational strategy, planning, and financial products.
- Asset Protection Strategies
- Asset Valuation Services
- Tax Liability Risk Mitigation
- Buy/Sell Review & Implementation
- SPE & Trust Utilization
Exit Planning
Support for mergers, acquisitions, or other significant financial transactions to help make informed decisions.
- Succession Planning
- Market Analysis
- Due Diligence
- Pre & Post Transaction Tax Planning
- Tax Restructuring
- Business Valuations
Estate Planning
Minimizing the tax liabilities associated with transferring assets to beneficiaries.
- Estate Tax Reduction Strategies
- Asset Protection
- Estate Freezing Techniques
- Estate Reduction Techniques
- Legacy Planning
- Philanthropic Planning
- SPE & Trust Structuring
Resources for architecture firms
Questions?
Let's design something lasting. Our strategic advice will deliver measurable returns in the near and long term for your firm. Schedule a free consultation with our team today.