If you want your business to grow in 2017, now is the time to develop a well-itemized financial plan. Benefits of doing so include the following:
• The more efficiently you plan, the more accelerated your revenue growth in the next twelve months will likely be.
• Sound financial planning offers both a rationale and guide for prudent decision making that builds momentum.
• The path to increasing revenue is clarified while funds typically become more available for marketing and/or product development.
While requiring diligent effort, a solid business plan will facilitate increased profits. Big payoffs, remember, begin with incremental steps.
When all the footwork is done, you will have an articulated vision of where your business is and where you want it to be. Regular reviews of your plan will help you keep your company on track towards steady growth and stability. Scheduled quarterly reviews of your financial plan will also encourage you to assess progress and ask questions about how to innovate based on developing trends.
Tax incentives available to businesses are often overlooked because it takes time and energy to investigate them and, if you pursue ones that aren’t right for the business, the effort is futile. But, when your business does go after appropriate incentives, they can give you a significant leg up on the competition.
Here are questions to consider. Does your company:
• pursue research/development?
• own commercial property?
• create new jobs?
• deal with high turnover?
If the answer is yes, you may qualify for a tax incentive. Hiring incentives are available through federal, state and local programs, while the Research & Development Tax Credit is an avenue for a company developing or improving a product or process and has significantly expanded since 2004. If you are a business owner who qualifies, this tax credit could make a substantial difference in your bottom line – and we’re just the R & D tax consultants to help make that happen.
Commercial property taxes are a huge financial drain for business owners. Make sure you are accessing all the refunds and reductions that are legally yours (again, we’re the tax credit consultants who can help!). Finally, do you have commercial property that can be reclassified? By having your property reclassified into a category that depreciates more quickly, you can free up your cash flow without even having a new building or renovation project.
Can your business cash in on business tax incentives? Chances are good that you can. You simply need to know where to start. At Fortune Consulting, our team of seasoned tax credit consultants can provide the tax incentive services you need to target and take advantage of relevant opportunities. Let us put our expertise to work for you to help you make 2017 the best year ever for your business.
Contact us online for a free consultation about potential incentives and how our tax incentive services can help. Or call 888-692-5111 today!