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Tax Credit Consulting: Business Tax Credits Moundsville WV

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. Gregory R. Metcalf (RFC®), RFP
(307) 723-5018
200 Ivy St
Weirton, WV
Company
Horizon Financial Group
Qualifications
Education: Ohio University, BBA FinanceCollege for Financial Planning's CFP Certification Professional Education Program
Years of Experience: 15
Membership
IARFC, FPA
Services
Invoice, Estate Planning, Portfolio Management, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Stocks and Bonds, Mutual Funds, CD Banking, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Education Plan, Healthcare Accounts, Asset Protection

Data Provided by:
H&R Block
(304) 645-1279
540 N JEFFERSON ST
LEWISBURG, WV

Data Provided by:
Liberty Tax Service
(866) 871-1040
2001 Stadium Dr
Bluefield, WV

Data Provided by:
H&R Block
(304) 725-4603
71 JEFFERSON CROSSING WAY STE E
CHARLES TOWN, WV

Data Provided by:
H&R Block Inside Sears At Towne Center Mall
(304) 345-1373
200 QUARRIER ST
CHARLESTON, WV

Data Provided by:
Harold D. Vealey (RFC®), CLU, LUTCF
(304) 346-2154
910 Chester Road
Charleston, WV
Company
Vealey Financial Services
Qualifications
Education: BA
Years of Experience: 43
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Pension Planning, Executive Compensation Planning, Retirement Planning, Medicaid Planning, Tax Planning, Seminars Work, Employee Benefits, Annuities, Life Insurance, Disability Income Insurance, Long Term Care Insurance, Medical Insurance, Group Insurance, Charitable Planning, BuySell, Compensation Plans

Data Provided by:
Liberty Tax Service
(866) 871-1040
735 Chestnut Ridge Rd
Morgantown, WV

Data Provided by:
H&R Block Inside Food Lion Shopping Center
(304) 683-3017
834 ROBERT C BYRD DR
CRAB ORCHARD, WV

Data Provided by:
H&R Block
(304) 799-6417
221 8TH ST
MARLINTON, WV

Data Provided by:
H&R Block
(304) 797-1216
3348 MAIN ST
WEIRTON, WV

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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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