2008 and 2010 are almost gone for amending tax returns for the Retraining and Job tax credits.

Year-end planning for your clients (and prospective clients) is a great time to discuss these prior year opportunities.

You will want to include a review of the following for 2008 and 2010:

1. Georgia income tax filing dates (month & day) for corporations and individuals owning pass-throughs. The amended return MUST be filed no later than this date in 2012.
2. Accumulated depreciation schedule. Flag any large computer or software items and review expenses to identify large consulting fees or operating lease increases.
3. Payroll. Identify significant cost increases that may indicate net new jobs.

This is a quick way to strengthen your business advisory role with your clients. If you find tax credit potential $$, your client will thank you for the nice $$ check they receive from DOR!