At NTC, our tax credit consulting services are tailored to minimize Federal and State tax liabilities and meet the needs of busy business people every day.

We offer Federal and State tax credit processing and implementation for your company. Our services will boost your bottom line by significantly reducing the amount of Federal and State income taxes your company will owe each year by ensuring the gain on the maximum available tax credits allowed by law.

NTC has been finding and processing tax credits nationwide since 1997. Continuous research and understanding of tax law, along with conservative application allows us to claim a 100% compliance rate with no returned challenges to date. Our industry leading software ensures the fastest, most accurate information and the largest amount in tax credits a business may be entitled to under law. We offer a full line of unique and competitive services to meet every business’s needs.

Tax credits can be confusing as tax laws change from year to year. Don’t be overwhelmed, contact the nearest NTC office and let one of our trained professionals work with you on maximizing your tax credit opportunities.

What NTC Offers

There are over 3,000 tax credit programs that could impact the amount of credits a company may be eligible to receive. Some tax credits such as the Research and Development credit may ‘piggy-back’ onto others resulting in automatic eligibility into other various programs. We manage each client's tax credit portfolio so that each program is maximized.

We have developed our own internal technology to ensure the proper implementation of each client's tax credit opportunity. Our best-in-class technology system electronically captures essential tax credit data during the hiring process and tracks every credit throughout the verification process while screening for any additional tax credits that may be relevant.

Our professional team:

Identifies, applies for, processes and administers business tax credit incentives
Provides clients with dollar-for-dollar credits against tax liabilities
Guarantees federal and state government compliance
Makes federal and state employment credits profitable for clients
Reduces costs and eliminates financial risk with our contingency fee based program
Leverages technology with clients’ business practices for easy implementation and seamlessly integrates with HR and payroll functions

The Process:

According to the General Accounting Office, only 1 of 800 businesses claim tax credits for which the business is eligible. In the small to medium size business category (revenues not exceeding 50 million annually), $4.2 billion in federal and state level tax credits go unclaimed every year. When you turn to NTC to recover and maximize your capital, we go through an in depth process to ensure you receive every credit you deserve.

• We review each employee’s W-2 in detail matching them against more than 1000 available state and federal government incentive.
  
  
• We work with you to develop a process that is manageable by your staff to maximize efficiency and participation by hiring managers
  
  
• We train hiring managers at each location to ensure everyone understands the value of the program and how to carry out the 2-3 minute process
  
  
• We send reports to corporate management on credits available with a status on paperwork and information received from your locations, so you know if you are about to miss an opportunity
  
  
• We send completed forms to you for new hire signature and subsequently audit the paperwork and submit it for certification on your behalf.
  
  
• We track the information through the certification process and once the employee is certified, we provide the necessary IRS forms for you to file with your taxes.
  
  
• We work on a contingency fee basis, so there is no financial risk to you.
  

You provide us with:

• Point of hire location information
• Wage and hour data
• Supplemental documentation
  

NTC, Our professional team will:

• Identify your options
• Track laws and regulations
• Submit agency forms
• Track responses and/or certifications
• Calculate credits, summarize & report
• Apply credit to appropriate tax filing
• Maintain records
  

The Opportunities

Billions of dollars are forfeited every year because business leaders and managers do not have the means to track, research and take advantage of the available government incentives. Our due diligence in tracking employer business incentives is focused on the following key categories:

• Work Opportunity Tax Credit
• Employee FICA Tip Credits
• Geographic Based Credits
• Disaster Relief Tax Credit
• Indian Employment Credit
• Research and Development Credit
• Cost Segregation
• State Tax and Incentive Credits
  

Note: State tax credit services are managed by our sister company The Business Incentives Group and is provided as a seamless service to our clients. For more information, visit www.tbigtax.com.

The Technology

NTC owns and operates proprietary software to record and track the existing tax opportunities. Such employee data as location, date of hire, age, veteran status, and employment industry is used to determine tax credit eligibility. Based on the information the applicant provides when answering a small set of questions, hiring managers can immediately determine whether or not the individual qualifies for a credit, even before an offer is made.

This software-as-a-service (SaaS) application is built using the latest XML standards and integrates easily with existing applicant tracking, payroll or HRIS/HRMS systems, producing a streamlined workflow for your staff.

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Work Opportunity Tax Credit (WOTC) qualifications

The Work Opportunity Tax Credit is a federal hiring incentive that provides a tax credit of up to $9,000 if your company is hiring from any one of the following groups:

• A member of a family that is a Qualified Food Stamp Recipient
• A member of a family that is a Qualified Aid to Families with Dependent Children (AFDC) Recipient
• Qualified Veterans
• Qualified Ex-Felons, Pardoned, Paroled or Work Release Individuals
• Vocational Rehabilitation Referrals
• Qualified Summer Youth
• Qualified Supplemental Security Income (SSI) Recipients
• Qualified Individuals living within an Empowerment Zone, Renewal Community, Enterprise Community or Rural
• Renewal Community
• Long Term Family Assistance Recipient (TANF) - formerly known as Welfare to Work
• Qualified Unemployed Veterans (new in 2009)
• Qualified Disconnected Youth (new in 2009)
  

We relieve your company of the administrative hassles of the program and retrieve all necessary information and documentation to certify the benefits for your company. From payroll information, we provide your company with a monthly report outlining the credits earned on each employee.

"Work Opportunity Tax Credit Classifications 2009"

 

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Employee FICA Tip Credits

Under IRS regulations, employers in the food and beverage industry may be eligible for a credit for social security and medicare taxes paid on their employees' tip income.

To qualify for the credit, an employer must meet both of the following requirements:

• The employer must have employees who receive tips from customers for providing, delivering, or serving food or beverages for consumption if tipping of such employees is customary.
• The employer must have paid or incurred employment taxes (i.e. employer social security and medicare taxes) on those tips.
• The credit is equal to social security and medicare taxes paid on qualifying employee tips. However, the credit may not be claimed on the portion of tips used to meet the federal minimum wage rate.

 

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Geographic Based Credits

The federal government has designated certain economically depressed areas as tax advantage areas. If your business is located in one of these areas and you employ individuals living in the same area, you can earn credits against your federal tax liability.

Empowerment Zones (EZ)

• Up to $3,000 per qualified employee per year
• Credits renew every year
• Based on calendar year
  

In addition, the businesses located within the zone may be entitled to increased tax expensing of equipment purchases and tax incentives for environmental remediation.

Renewal Communities (RC)

• Established in 2000 by the Community Renewal Tax Relief Act
• Up to $1,500 per qualified employee per year
• Credits renew every year
• Based on calendar year

 

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Disaster Relief Tax Credit

These credits were created to help businesses rebuild and to help individuals rejoin the work force in the aftermath of Hurricanes Katrina, Rita, Wilma and similar natural disasters. The federal government has joined with state and local governments to insure the rebuilding of infrastructures and physical facilities impacted as a result of the aforementioned disasters. There are two employer-related tax credits:

• Work Opportunity Tax Credit (WOTC) for employers that hire individuals affected by Hurricane Katrina; and
• Employee Retention Credit for employers that retain existing employees despite a loss of operations due to Hurricanes Katrina, Wilma or Rita.
  

Hurricane Katrina WOTC Credit:

• Available to all businesses who hire individuals that lived in the Hurricane Katrina core disaster area when the storm took place. Employers may qualify for this credit through December 31, 2007.
• WOTC provision is for employers with a location in the Katrina core disaster area that hire individuals who lived in the core disaster area prior to the storm. Employers may qualify for this credit through August 27, 2009.
  

In both cases, employers can earn up to $2,400 in tax credits per qualifying new employee.

Employee Retention Credit applies for Hurricanes Katrina, Rita and Wilma:

Applies to employers whose business suffered a loss of operations due to the aforementioned Hurricanes but continues to pay employees even though the business was inoperable. To qualify, the employer's inoperable location must be within certain designated hurricane-damaged counties.

If the employee performed no services or if the employee performed services at a different location following the hurricane, the employer may earn a retention credit. Employers can earn up to $2,499 in tax credits per retained employee.

Heartland Employee Retention Tax Credit

The credit is equal to 40 percent of the first $6,000 of qualified wages paid to each employee by an eligible employer during the period in which the business became “inoperable” until the date that significant operations were resumed. This credit equates to a potential savings of $2,400 for each employee that your business paid while your business was relocated or not operating.

To qualify, the business must be an eligible employer, which means that:

1. The business employed, on average, no more than 200 employees during the tax year before the disaster date (2007 in this case);
2. The company was conducting business immediately before the disaster;
3. The business was inoperable on any day on or after the date of the disaster and before Jan. 1. A business only needs to be inoperable for one day to qualify for this tax credit. Wages paid to employees qualify for this credit even if the employee performed services at a different location while the business was displaced or performed services at the principal place of business before operations fully resumed.

 

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Indian Employment Credit

The Indian Employment Credit provides businesses with tax credits which, unlike tax deductions, directly offset an organization's federal tax burden. This provides an incentive to hire and retain individuals who are enrolled members of an Indian tribe (or the spouse of an enrolled member) who live and work on or near an Indian Reservation.

 

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Research and Development Credit

The Research & Development Tax Credit (R&D) offers tax incentives and expensing of costs for investments, such as research efforts of qualifying companies to develop new or improved products/processes in their businesses. This credit is not just for the more technical companies as it is often thought to be. Regulations of the IRS in December of 2003, which are retroactive, have made it easier to qualify. In addition, many states also offer R&D credits.