This past week in CNN’s small business blog, C & I Tax Consultants had a great feature.  See below for an excerpt of the article:

“In 2003, for example, a year California gave away $300 million in tax credits, less than 10% of potentially eligible businesses actually claimed them, says C & I Tax Consultants, an accounting firm that specializes in tax credits.

“There’s absolutely no reason not to look into this,” says Steve Dotan, president and CEO of the Los Angeles company.

And just because you missed the boat on past credits doesn’t mean that the benefit is gone forever. Most states will allow you to go back several years on returns and amend the information, something Dotan says will often uncover plenty of unused credits that are still available.

“I get a lot of, ‘Wow, really?’”

Plus, some credits are refundable, he says, meaning that if you are struggling and not paying taxes, you can actually get cash back.”

The industry is beginning to catch on that there are sizable tax credits available to businesses that can be taken advantage of immediately.  If you want to see what benefits your company is entitled to, contact us for a free consultation.

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