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Credits & Incentives

TAX PLANNING

Unlock Hidden Value and Fuel Your Growth

Maximize Your Profitability with Valuable Tax Credits and Incentives

Tax credits and incentives are government programs designed to encourage specific business activities, such as research and development, job creation, energy efficiency, and real estate investment. Unlike a tax deduction, which lowers your taxable income, a tax credit provides a dollar-for-dollar reduction of the actual tax you owe.

For many businesses, these opportunities are often overlooked or underutilized due to the complexity of the regulations. However, failing to claim them means leaving significant capital on the table—capital that could be reinvested into your company’s growth, innovation, and workforce.

Leveraging these programs is a strategic financial move that delivers immediate and long-term value.

Key Benefits of Tax Incentives
    • Significant Cost Savings: Directly reduce your federal and state tax liability, often resulting in substantial savings that impact your bottom line immediately.
    • Improved Cash Flow: By lowering your tax bill—or in some cases receiving refundable credits—you free up cash reserves to fund daily operations or new initiatives.
    • Reinvestment in Growth: The capital saved through credits can be redirected toward hiring new talent, purchasing equipment, expanding facilities, or funding future R&D projects.
    • Competitive Advantage: Utilizing government incentives allows you to lower your effective tax rate, giving you a financial edge over competitors who fail to capitalize on these programs.

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Services Overview

Research & Development (R&D) Tax Credits

Claim valuable credits for creating new products, improving processes, or developing software—ideal for manufacturing, technology, engineering, and construction firms.

Energy Efficient Incentives

Secure federal and state deductions for energy-efficient buildings and homes to lower your tax bill.

Cost Segregation Studies

Increase cash flow by accelerating depreciation on your real estate assets.

Enterprise Zone Incentives

Access local and state grants for operating in designated economic development zones, including benefits for job creation and property investment.

Historic Rehabilitation Credits

Maximize credits by restoring certified historic structures with expert guidance through the federal and state process.

The Path to Claiming Your Credits

Qualifying for tax incentives requires a rigorous, documentation-heavy process. We manage all the details to ensure you successfully meet compliance requirements. Here’s how we help you identify and secure relevant tax credits and deductions:

  • Eligibility Assessment: Review your business activities, expenses, and locations to uncover all available credit opportunities.
  • Quantification & Analysis: Calculate the value of credits and compare with compliance costs to ensure your investment pays off.
  • Documentation & Substantiation: Gather technical and financial records to support your claim and protect against audits.
  • Filing & Compliance: Submit required forms and certifications accurately to the relevant tax authorities.

“Over the years I have worked with several different associates at this company who have always treated us with respect. They have always kept us informed and responded to any questions quickly and professionally.”

~ Charles H. & Patricia G. Turner
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“Our PBMares team is doing a great job moving the work forward and keeping us on track! They are proactive and tackle challenges as they arise, helping us meet our deadlines and goals.”

~ Soli Organic, Inc.
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“I cannot articulate how wonderful it has been to work with a firm that is proactive in its approach to saving us money by exploring a continuous tax strategy and employing efficient audit practices.”

~ Asheville Mica Co.
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Meet the Team

Daniel Chenoweth

MPA, CPA
Partner, Credits & Incentives Team Leader
Newport News

Ryan Young

CPA
Partner, State & Local Tax Team Leader
Norfolk