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Tax Credit Consulting: Business Tax Credits Hot Springs National Park AR

The total of all of your Business Tax Credits is computed on Form 3800. This business tax credit total is the sum of your carryover credits from previous years and your current total business tax credit for the current year. This total may be increased in the future by carry-backs from future years. In this case, an amended tax form could be filed.

Mr. Charles W. Beale (RFC®), CFP, CLU
(501) 922-9259
25255 Highway 5, #J
Lonsdale, AR
Company
C.W.
Qualifications
Education: BA
Years of Experience: 47
Membership
IARFC, MDRT, FPA, SFSP, NAIFA
Services
Invoice, Estate Planning, Retirement Planning, Tax Planning, Seminars Work, Annuities, Life Insurance, Long Term Care Insurance, Asset Protection

Data Provided by:
Jackson Hewitt
(501) 624-5252
405 Airport Road
Hot Springs, AR

Data Provided by:
H&R Block
(501) 525-0544
224 CORNERSTONE blvd
HOT SPRINGS, AR

Data Provided by:
Mr. Jon Richard Abele (RFC®), JD
(870) 856-3441
2200 Hwy 62/412
Hardy, AR
Qualifications
Education: BA, JD
Years of Experience: 35
Membership
IARFC, Bar
Services
Invoice, Estate Planning, Business Planning, Retirement Planning, Tax Planning, Charitable Planning, Asset Protection, Compensation Plans

Data Provided by:
Jackson Hewitt
(870) 739-1001
2 North Flowers Trail
Marion, AR

Data Provided by:
Hutchison Income Tax
(501) 767-1513
1560 Airport Rd Ste A
Hot Springs, AR

Data Provided by:
Newkirk & Nordquist PA
(501) 767-6635
1540 Airport Rd Ste B
Hot Springs, AR

Data Provided by:
Jackson Hewitt
(501) 623-1244
3648 N. Highway 7 Ste B
Hot Springs Village, AR

Data Provided by:
Mr. Charles W. Beale (RFC®), CFP, CLU
(501) 922-9259
25255 Highway 5, #J
Lonsdale, AR
Company
C.W.
Qualifications
Education: BA
Years of Experience: 47
Membership
IARFC, MDRT, FPA, SFSP, NAIFA
Services
Invoice, Estate Planning, Retirement Planning, Tax Planning, Seminars Work, Annuities, Life Insurance, Long Term Care Insurance, Asset Protection

Data Provided by:
Campbell's Tax Svc
(501) 843-4282
23 Funtastic Dr
Cabot, AR

Data Provided by:
Data Provided by:

Tax Credit Consulting: Business Tax Credits

Business Tax Credits

The Federal Internal Revenue Service allows a large number of Business Tax Credits. These credits are subtracted directly from you taxes and are important to understand completely.

The total of all of your Business Tax Credits is computed on Form 3800. This business tax credit total is the sum of your carryover credits from previous years and your current total business tax credit for the current year. This total may be increased in the future by carry-backs from future years. In this case, an amended tax form could be filed. In addition to the General Business Tax Credit, there are currently around 28 addition credits that can be claimed.

The Internal Revenue website gives a list of the available Business Tax Credits and the appropriate form that each must use to file the credit. In most cases, the total from the various forms is transferred to the appropriate line on the Form 3800. Each individual credit filing form gives instructions and other qualifying information on the credit.

The credits are mostly incentives. They are designed to encourage the business to engage in a certain practice. Examples are the Work Opportunity Tax Credit (WOTC) which uses Form 5884, or the Alternative Motor Vehicle Credit which uses Form 8910. Other credits include the Recapture of Low-Income Housing Credit using Form 8611 and The Disability Access Credit using Form 8826.

Some of the credits are of a social nature encouraging activities that have popular political support such as the Credit for Employer Provided Childcare Facilities and Services Credit, which uses form 8882. The forms themselves and the instructions on them can help better understand each one's own restrictions and limitations. The Disability Access Credit on Form 8826, for example, shows you that the credit must be at least $250 as a minimum and $10,000 as a maximum. Even then, only 50% of the amount between the minimum and maximum can even be used. So, the total of the credit co...

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