We got great feedback from last month’s article about “Why didn’t my CPA tell me about tax credits” (click here).  You sent us comments and concerns about engagement letters, law suits, being too busy and not knowing what to look for.

How can you find out if they can utilize tax credits?  With tens or hundreds of corporate clients, you have a hard time keeping up with them all.  Bottom line: most of the Georgia tax credits are for companies that are investing in themselves.  This includes adding jobs, expanding, moving, implementing new software, and many other activities.  One way or another, all of these investments show up on the accounting and tax related documents that your client provides to you.

Some CPA firms have incorporated data mining IT tools to analyze these documents (such as flagging any clients whose capital assets increased more than $100,000 year-to-year).  Others visit their clients on site to pick up these documents and spend time talking with their clients about their business. Still others rely on “opt in” check boxes in their client communications — not very effective if the client doesn’t already understand tax credit opportunities!

We are hearing more and more recently that clients are shopping all of their professional service providers – including CPA services.  Make sure your clients know about your value by letting them know that you are doing more that just keeping them compliant – you are trying to help them save money with tax credits!