We work with businesses of all kinds to reduce operating costs and increase profitability through tax strategy, credits, and intelligent cost-saving solutions.
How We Help Our Clients
What We Do
We increase profitability by reducing your operating costs.
There are two primary ways to make a business more profitable. Increase revenues or reduce expenses.
We can’t help you with increasing revenue but there is a very good chance we can reduce your expenses.
How We Do It
We ask questions to learn what you do. We want to learn how you got into the business, where you feel like you’re struggling and what your goals are. We can’t help you until we know you and your business.
Once we know you and your business we’ll get to work on what counts – cutting your expenses. Click here if you’d like to jump ahead to the good stuff!
How Much Does It Cost ?
Great question since it’s all about reducing your expenses!
The answer is – it depends. Most of the time we are compensated by the resources we bring to you – i.e. – it won’t cost you a thing.
There may be times you will owe us a fee. The fee will be paid for many times over by the savings we generate for you.
In short, using our services will always save you money. It doesn’t get much better than that.
What Is Cost Segregation?
Cost segregation is tax strategy that should be considered by every taxpayer who owns, is constructing, renovating or acquiring real estate. By using an engineering- based approach to identify assets within a building that can be reclassified into much shorter depreciation recovery periods than the building itself, significant tax savings can be achieved.
Generally, an entire building would be classified with a straight-line depreciation cycle of either 39 years for commercial and industrial property or 27.5 years for residential-rental property. By applying a cost segregation study, you can maximize your inherent tax benefits by identifying, classifying, and segregating the personal property components of the building. This results in accelerated depreciable lives of 5, 7 and 15 years, thus saving thousands of tax dollars.
For example: For a newly purchased building placed into service the same year, $2,000,000 was re-classed to a 7-year life. In the first year alone that garnered a tax savings of $103,192. Over a 5-year period the one-time cost segregation study saved the owner over $525,000.
Properly executed cost segregation studies are designed to maximize building depreciation allowance while minimizing the risk of audit exposure. Because tax laws change constantly, you need to understand how to confidently identify improvements to building plans, quantify a property using a detailed level of cost information, and describe cost savings methods in accordance with current tax bylaws. It is best to assemble a team with construction and engineering knowledge, along with depreciation-related tax law expertise, to conduct a study.
What Type of Property Can Benefit?
Retail shopping centers
Apartment and condominium buildings
Medical and veterinary offices
Even golf courses!
These are just a few. Interested in learning more? Contact us today and tell us about your project.
How do I know if my building is a good candidate?
- Has it been constructed, purchased or renovated since 1987?
- Is the building worth at least $750,000 or have improvements been made that equal that?
- Do you plan on holding onto the property for several years?
- Do you have net income that is being taxed?
If you answer yes to any of these questions, your property is a good candidate. And if you aren’t sure, call us!
Equipment Maintenance Contracts
Business owners continuously look to reduce expenses and improve efficiencies. Many purchase Original Equipment Manufacturer (OEM) and third-party service contracts to maintain and repair capital equipment.
These contracts are very profitable for those providing the service and very expensive for the owner of the equipment. Until now there has been no way to control those costs. A business is at the mercy of others with no way to introduce competition into the process.
There is a much better way – a single Equipment Maintenance Contract insured through CNA.
Having an Equipment Maintenance Program offers many benefits.
- Direct savings from 10% – 25%
- A single invoice each month
- A single number to call for all service needs
- The ability to use whatever service provider you like
- A portal detailing actual maintenance costs
What equipment is suitable for this type of contract? If it plugs in or runs on a battery, it’s a fit! These lists show just a few items that are great candidates.
CT and MRI scanners
Nuclear Medicine Cameras
Blood gas unit
Cell savers and washers
Card access systems
Vaults and safes
Video security systems
PC’s and peripherals
Research And Development Tax Credits
R & D tax credits don’t just apply to work done in a lab coat!
The R&D Tax Credit is a federal tax incentive designed to promote innovation. It allows companies to receive tax credits for expenses incurred for research and development, by lowering their tax obligation and increasing funds for future innovation. Primarily a labor-based incentive, the R&D Tax Credit applies to activities undertaken to develop new, improved and more reliable products, processes and formulas such as:
› Developing or testing new products or materials
› Developing new or enhanced formulations
› Testing new concepts
› Improving existing products
› Trial and error experimentation
› Designing tools, jigs, molds and dies
› Design and analysis of prototypes or models
› Developing or improving production or manufacturing processes
› Developing, implementing or upgrading systems/software
› Paying outside consultants/contractors to perform any of these activities
› And more…
Interested in learning more? Contact us today!
45 L Residential Dwelling Tax Credits
Waste Disposal Expense Reduction, Control & Management
Would you like to pay less to have your garbage hauled away? For most business owners the answer is a resounding yes! And for good reason – it’s a simple thing – the truck pulls up and your garbage goes away.
Going out to bid every few years is about all you can do. But how do you know you are getting the best value for your needs? You don’t and that’s where we come in.
On average our clients save 20%
How do we produce these savings?
- Figure out where you are overspending. This overspend could be hidden in many different places. We know where to look.
- Identify savings in your market. We have data from years worth of work, and use it to your advantage. It may be reducing the size of your containers, the number of trips your hauler is making, or negotiating a better fuel surcharge for you.
- Negotiate a better deal on your behalf. This is where we use the knowledge gained above to your advantage.
Once we have a better deal in place, we don’t go away. We monitor each invoce for fees that suddenly appear, an extra trip that was not needed, or a myriad of other things that cause “rate creep.”
Utility and Telecommunications Expense Reduction, Control and Management
Why Flea Bite Creek?
Mentioning the company name often leads to the question “where did that come from?”
There is an actual Flea Bite Creek in Calhoun County, South Carolina. Our family farm is located not far from it. The pond on the farm drains into Flea Bite Creek. We chose the name to share a little bit about our family and to help establish meaningful business relationships. We hope to do so with you.