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Firm Helps Companies Maximize Tax Credits

From the January 2006 Review of
Tax Research Applications

With tax planning in mind for individual clients, many professional accountants
focus on business growth planning for their corporate clients and may be missing
out on significant opportunities to save cash for these business clients.

Unfortunately, most CPAs and in-house accountants are not as fluent in the
intricacies of federal corporate credits as they are at applying individual
ones. That’s where the alliantgroup, LP (
comes in. The firm specializes in helping mid-market companies and their accountants,
whether CPAs or in-house, to identify, quantify, document and claim the maximum
amount of corporate tax credits and other government incentives. In short, alliantgroup
helps these businesses enhance their finances. The firm does not provide accounting,
attestation or other audit functions.

Although the firm offers an array of tax consulting services, alliantgroup’s
largest practice area is its government-sponsored R&D incentive program,
through which it has helped recover millions of dollars for clients via the
government-sponsored R&D tax credit. The current credit was first passed
as a temporary measure in 1981 and has been extended 10 times, most recently
an 18-month extension as part of the Working Families Tax Relief Act of 2004.

It allows U.S. companies conducting R&D activities to get a tax credit
of up to 20 percent of R&D spending. The government gives more than $5 billion
annually in such credits, which can obviously be an immediate source of cash
for the companies utilizing them. Unfortunately, it often remains hidden to
tax professionals.

Other key tax strategies that the alliantgroup assists businesses with include
government-sponsored manufacturing and export incentives, as well as merger
and acquisition tax services and international tax issues. alliantgroup’s
current client base ranges from publicly traded companies to smaller, closely
held concerns.