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Incentives, Grants and Tax Credits for American Businesses

Our team of attorneys, CPAs and professionals will work hard to find incentives, grants and tax credits at the local, state and federal level, to help you protect and grow your business.

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Cloverfield Advisors Finds Funding, Incentives, Grants and Tax Credits for Business Owners

Incentives

Financial incentives are awarded for specific actions and may be in various forms from agencies, utilities and other entities.

Grants

Grants are typically awarded for a purpose to organizations that either meet criteria or engage in specific behaviors.

Tax Incentives

Tax incentives are given on the local, state and federal levels for various industries and desirable activities.

Employment Incentives

Incentives may be available for job creation, particular in certain geographic areas, industries and services.

Additional Incentives

Additional incentives may be available for hiring people in certain classifications, such as veterans and long-term unemployed.

Business Loans and Lines

Cloverfield Advisor we can help facilitate securing business loans and funding, including VC, Angel & SBA

Employment Incentives

Employment Incentives & Grants: Supporting You to Grow Economy

Local, State and Federal Governments 
offer incentive programs for job creation and employment within geographic districts

One of the key focuses of our economy is on jobs and job creation. The more jobs we create and sustain within the United States, the better. Our economy remains robust, we generate tax revenue through employment taxes, and we have fewer people dependent on “the system.”

This helps increase economic stability, strengthens our financial security and helps ensure that more Americans are working.

The government, at federal and various state levels, create incentives to create jobs. Some focus on raw job creation, some focus on industries, others focus on hiring certain classifications of people (such as long-term unemployed, veterans, disabled workers, minority workers and others).

By filling a need and creating employment opportunities, particularly in identified economically depressed areas, incentives are often available to business owners and operators.

Research & development

R&D Tax Credits: Incentives for Innovation in the USA

Local, State and Federal Government 
provide incentives for employment, innovation,
research & development and more.

The federal and state governments have put together a wide range of tax credits, deductions and other incentives to encourage businesses within the United States to grow. A vast range of programs exist, creating opportunities for all sorts of businesses. 

Research and development is not limited to laboratory experiments and medical research. Companies and more than 40 industries are able to receive incentives for a wide range of activities.

Depending on the program and the activity, these could include outright grants as well as tax credits or deductions which can be used to offset tax liability and/or tax refund checks. 

With a focus on creating high-quality jobs in the United States, many businesses qualify for one special program or another. It is our job to spend months researching programs, analyzing your business, and creating the supporting materials to qualify you for funds available.

Research and Development Is Not Limited to the Laboratory

While researchers in lab coats conducting scientific experiments reflect the typical expectations of research and development, the reality of what constitutes R&D is very different.  

Companies can qualify by designing, inventing or improving processes, techniques, products and other tangible and intangible items. It is not limited to invention. In fact, much of R&D is about process improvement. 

Can you redesign a thing to use less energy? To perform faster? To perform with less noise? To perform at a lower cost? To do these things, you must expend resources for research and development. This is where we focus our attention.

Industries Engaged in Research & Development

Within the world of R&D, many industries play a role. Pharmaceutical, architecture, manufacturing, engineering, software, energy, and dozens more may engage in R&D activities.  

You do not have to be a company dedicated to research and development. Rather, you may be entitled to incentives on that portion of your business that is engaged in R&D activities.

Do you have a food company developing new products?  Do you design networking infrastructures for companies to make them more efficient? Do you plan out HVAC systems for schools in a way to save energy?  Activities such as this may qualify.

How We Help Business Owners

Find Incentives

  • Understand your business model
  • Learn and document processes
  • Identify hires, geography and other factors
  • Review activities and expenses
  • Identify opportunities
  • Apply for Incentives

Align to Incentives

  • Learn and understand your business
  • DIscussion plans for growth and future years
  • Identify programs offering incentives
  • Align operations and documentation processes
  • Record keeping and requirement compliance
  • Apply for incentives

RESEARCH & DEVELOPMENT

What Constitutes Research and Development?

Look at the Four-Part Test

Typically, qualified research needs to pass a four-part test to be entitled to benefit from these kinds of programs. Specifically, the activities (not the business, but the relevant portion of the business activities) must include:
  • Permitted Purpose
  • Elimination of Uncertainty
  • Process of Experimentation
  • Technological in Nature

Do not look at this list and assume your business does not qualify. For example, you may have a business that installs LED lighting in commercial facilities. While the installation work would not be R&D, the time spent by architects and engineers who develop optimal strategies to reduce electrical consumption and heat, as well as reducing of the air conditioning demands (because of the reduced heat) may qualify for R&D credits on those activities. 

 Our attorneys and accountants will work with you to assess your operations and expenses, help determine if you qualify, and develop strategies for you to maximize the benefits from these programs going forward.

FEDERAL AND LOCAL PROGRAMS

Federal and State Research and Development Programs

Different jurisdictions offer different incentives for innovation, job creation, employing people in protected classifications, etc.

Both the federal government in most states provide incentive programs for research and development and job creation. Our role is to find the programs that you may qualify for, prepare the financial and business justifications, and pursue those funds for you. You may qualify for multiple programs which are applied for separately and on their own timetables.
We work with you now and going forward to help get you incentives which are already doing, help you plan actions to maximize benefits going forward, and help you qualify to receive incentives and years ahead.