Business Tax Recovery Logo


Tax Credit Consulting: Business Tax Credits Tewksbury MA

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.

Ms. Marilyn M. Sanford (RFC®), EA, MBA
(978) 677-6511
218 Ames Hill Dr
Tewksbury, MA
Company
Ames Pond Tax & Financial Planning
Qualifications
Education: BA; MBA; Certificate in Financial Planning; Series 6, 7, 63 & 65 licenses; Mass Life, Health Insurance & Variable Annuities Licenses
Years of Experience: 13
Membership
IARFC
Services
Invoice, Retirement Planning, Tax Planning, Tax Returns, Stocks and Bonds, Mutual Funds, Annuities, Life Insurance, Medical Insurance, Education Plan

Data Provided by:
Liberty Tax Service
(866) 871-1040
370 Bridge St
Lowell, MA

Data Provided by:
Liberty Tax Service
(866) 871-1040
724 Chelmsford St
Lowell, MA

Data Provided by:
Camerlengo & Assoc Pc
(781) 245-3160
64 Albion St
Wakefield, MA

Data Provided by:
Master Tax And Lexington Driving School Inc
(781) 646-5000
142 Massachusetts Ave
Arlington, MA
Hours
7 Days a Week/Daily/Everyday

Data Provided by:
Mr. Paul R. Churchill (RFC®), MBA
(781) 386-1729
9 Danielle Drive
Danvers, MA
Company
Northeat Advisors
Qualifications
Education: MBA(Finance Concentration)Boston University ( Cert. in Financial Planning)
Years of Experience: 6
Membership
IARFC
Services
Invoice, Estate Planning, Business Planning, Portfolio Management, Trustee Service, Pension Planning, Retirement Planning, Medicaid Planning, Tax Planning, Employee Benefits, Business Coach, Education Plan, Asset Protection, Compensation Plans

Data Provided by:
H&R Block
(978) 265-8505
716 MIDDLESEX ST STE 3
LOWELL, MA

Data Provided by:
Accuplus Financial Services Inc
(978) 251-0405
17 Dunstable Rd Ste A
North Chelmsford, MA

Data Provided by:
Potter & Co
(781) 246-1598
605 Salem St
Wakefield, MA

Data Provided by:
Jackson Hewitt
(978) 531-0707
86B Main Street
Peabody, MA

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...

Click here to read the rest of this article from BusinessTaxRecovery.com