By securing available grants, rebates, credits, and incentives, a business owner may be able to avoid paying unnecessary taxes, obtain immediate tax refunds, manage overhead, drive down effective tax rates, and improve earnings and shareholder value.
Last year 5% of eligible US businesses split more than $12 billion in government revenue giveaways. And 90% of those checks were mailed out to billion dollar companies. Most small business owners are either unaware these programs exist, or they think they would not qualify.
Unlike business deductions, tax credits offset federal and state tax liabilities dollar-for-dollar, and directly affect a business owner's bottom line. The recent tax overhaul is even more taxpayer-friendly and brings valuable benefits to small business. In addition to federal programs, most states offer regional and local programs as well.
These incentives, credits, rebates, and rewards are designed to help businesses develop, grow, and succeed. That creates jobs and grows the economy, so the government sees incentive credits as a sound investment.