Enterprise Zone Presentation
-
Upload
kirk-conole -
Category
Documents
-
view
230 -
download
0
Transcript of Enterprise Zone Presentation
Is Your Business in an Enterprise Zone?
You may be able to reduce your state income tax by $37,440 per qualified employee* hired.
*An employee who meets at least one of twelve different criteria. (By far most qualify by residing in Targeted Emploment Area resident, dislocated worker, veteran.
Enterprise Zone Tax Credits Can be as Good as Money
You may use them to get state income tax refunds.
You may use them each year until they are exhausted.
Two Wrong Assumptions that Cost You Money
Unrealistic assumption that CPAs will do it right…very few do.
If I can’t make the program work myself, it shouldn’t be done.
DCI Solutions Enterprise Zone: Employee Information Template
ABC Plating
2005 Maximum Rate
Voucher Last Name First Name Hire Date Starting Wage Total Wages Total Hours
Yes Jones Miriam 4/13/2005 6.75 10,199.00 1,510.96
Yes Smith Saul 5/12/2005 6.75 No W-2 Wages
Yes Lopez Marco 6/29/2005 6.75 6,955.00 1,030.37
Yes Iniquez Rubio 7/11/2005 6.75 9,641.28 1,428.34
Yes Morales Jose 9/28/2005 6.75 1,614.00 239.11
Yes Morales Patricia 11/30/2005 6.75 1,233.77 182.78
Yes Hardworker Ima 1/3/2006 6.75 2006 Credit
Yes Goodboss Ura 3/7/2006 6.75 2006 Credit
Total Credit
S-Corp Credit
Number of Employees at Site
Number of Employees in Credit
% of Employees Certified
Step #1 Hiring Records
DCI Solutions Enterprise Zone: Employee Information Template
ABC Plating
2005 Maximum Rate
Voucher Last Name First Name Hire Date Starting Wage Total Wages Total Hours 50% Credit
Yes Monge Miriam 4/13/2005 6.75 10,199.00 1,510.96 5,099.50
Yes Iniquez Saul 5/12/2005 6.75 No W-2 Wages
Yes Reyes Marco 6/29/2005 6.75 6,955.00 1,030.37 3,477.50
Yes Iniquez Zeferino 7/11/2005 6.75 9,641.28 1,428.34 4,820.64
Yes Morales Elio 9/28/2005 6.75 1,614.00 239.11 807.00
Yes Iniquez Patricia 11/30/2005 6.75 1,233.77 182.78 616.89
Yes Hercules Alicia 1/3/2006 6.75 2006 Credit
Yes Ascon Yanira 3/7/2006 6.75 2006 Credit
Total Credit $ 9,722.03
S-Corp Credit $ 3,240.68
Number of Employees at Site 15
Number of Employees in Credit 5
% of Employees Certified 33%
Step #2 DCI Calculates Your Credits and Refunds
DCI Solutions Enterprise Zone: Employee Information Template
ABC Plating
2005 Maximum Rate
Voucher Last Name First Name Hire Date Starting Wage Total Wages Total Hours 50% Credit
Yes Monge Miriam 4/13/2005 6.75 10,199.00 1,510.96 5,099.50
Yes Iniquez Saul 5/12/2005 6.75 No W-2 Wages
Yes Reyes Marco 6/29/2005 6.75 6,955.00 1,030.37 3,477.50
Yes Iniquez Zeferino 7/11/2005 6.75 9,641.28 1,428.34 4,820.64
Yes Morales Elio 9/28/2005 6.75 1,614.00 239.11 807.00
Yes Iniquez Patricia 11/30/2005 6.75 1,233.77 182.78 616.89
Yes Hercules Alicia 1/3/2006 6.75 2006 Credit
Yes Ascon Yanira 3/7/2006 6.75 2006 Credit
Total Credit $ 9,722.03
S-Corp Credit $ 3,240.68
Number of Employees at Site 15
Number of Employees in Credit 5
% of Employees Certified 33%
Step #3 Receive LARGE credits and refunds
There’s no downside or risk.
-No change in vendors or services.
-Nothing happens without your consent.
Our goal is to hit “home runs*” on your behalf.
*You save 15% or $15,000 (with no change in vendor required).
We hit several home runs just in the first inning
1) We collect invoices from your AP files.
2) We analyze invoices for overcharges and potential refunds.
3) We confidentially show savings that require little time and no change.
4) With your approval, we apply for refunds/credits.
5) Within weeks, your savings will begin.