Are Tax Credits a Scam?

By: Stephen Epstein

When I first heard about tax credits, I thought it was some sort of scam.  I thought “there’s no way that our manufacturing and fabrication company qualifies. But I was wrong.  We worked with one of the top accounting firms in the country, and they documented every single little credit and put us through the wringer to ensure that everything we were doing was totally legitimate.  It was a good learning experience, but it was very expensive.  They charged us a small fortune.  Still worth it, but the service that we now offer, working with our team of experts, is faster, cheaper, and a lot easier, and it still offers all the protections that you would want. 

Anyway, the issue that most people have isn’t proving the legitimacy of their credits — the tax rules passed in 2015 really opened up the definition of what’s possible and who qualifies, making it a lot easier to pass the mythical four-part-test.  I’ll tell you more about that later.  The real issue with doing these tax credits is momentum.  It’s really easy to get excited, push on it, and then drop the ball on the paperwork side.  I can’t tell you how many people start this process but don’t finish it.  That’s the problem.  

The reason for this problem of starting it and not finishing it, and therefore not getting the credit, is because they get confused.  They don’t’ have a simple roadmap from getting from point A to point B.  And, they don’t have us literally holding their hand and doing all the work for them every step of the way.  Trust me, you don’t want to figure it out on your own, it’s pretty brutal.  I did it, and I spent a ton of money figuring it out.  It was worth it in the end, but the process was painful.  Well not anymore.  We’ve made it easy. 

What would you do with $50k, 100k, or maybe even $300k in cash?  Would you reinvest it in the business so you can really scale properly?  For that kind of money, you could probably buy a boat.  I recently purchased a Chris-Craft ski-boat with the money we recovered for one of our companies.  Why not? 

If you have any interest in learning more about this, watch some of our other videos about how it all works, and schedule an evaluation so we can help you determine if your business is a good fit for our program. Don’t be nervous about reaching out.  We aren’t going to pitch you anything.  We only get paid a percentage of what we recover for you, so it has to be in both of our interests to move forward.  It’s pretty simple.  Hopefully, you qualify and we can all put a little money in our pocket and push our dreams forward a little more.  Look forward to speaking with you soon. 

You can schedule a complimentary 15-minute Tax Credit Recovery Call with our team by going to our website and clicking “schedule a call”