Description

Training Summary: Monetizing Tax Incentives & Tax Credit Overview

• Purpose: To help small to midsize companies understand and take advantage of available tax credits and incentives that can reduce tax liability and unlock valuable financial opportunities.

Why Companies Pursue Tax Credits:

• Reduce tax liability to increase cash flow.
• Offset hiring, training, or expansion costs.
• Leverage state and federal programs that encourage growth, innovation, and job creation.
• Monetize credits (especially transferable ones) for immediate benefit.

Key Credit Categories & Strategies:

• Employment Credits
  • Reward hiring of targeted worker groups (e.g., veterans, long-term unemployed).
  • Example: Work Opportunity Tax Credit (WOTC).
• Training Incentives
  • Offset costs for employee skill development.
  • Encourage workforce improvement through approved training programs.
• Geographic Credits
  • Available to businesses located in or moving to specific areas (e.g., enterprise zones).
  • Designed to spur economic growth in underserved communities.
• Transferable Credits
  • Some states allow unused credits to be sold or transferred.
  • Can generate immediate cash flow even if the company doesn’t have tax liability.
• Development Incentives
  • Offered for expanding facilities, creating jobs, or making capital investments.
  • May include property tax abatements, grants, or infrastructure support.

 Speaker Information: 

Yvonne M. Forbes

Founder, President – Forbes Management