While both entities will continuing to offer growth value strategies to their clientele, each feels there are a whole heap of untapped incentives available that most small to medium size businesses either don’t know they are available for the asking, or they simply don’t know how to go about accessing them.
“Whether it’s a Start-up or an established business the local, state and federal government has 100’s of incentives – translating in money being saved once you qualify. We are here to help you see what and how much you qualify for with a no-cost, no-obligation analysis, that way if we don’t find anything it doesn’t cost you anything but a few minutes of your time.” said spokesperson Kurt Lucien, a Senior Growth Advisor at KEMP Group & Associates LLC.
Small to medium sized businesses to benefit from this KEMP/GMG collaboration include Commercial Property Owners, Manufacturers, Employers, Automotive, Hotels, Medical, Restaurants, Funeral Homes, Software/IT, BioTech/BioMed, Grocery Store, Commercial Contractors and many other industries that make up their portfolio of satisfied clients.
According to the spokesperson, these tax-based state and federal stimulus incentives are directed to help businesses writing checks (for taxes). These programs were designed to help offset them these taxes – ranging from commercial property owners to manufacturing research & development and payroll, such as the HIRE Act and the PATH Act.
That is just part of the hiring incentives out there, but there are hundreds of incentives that vary by state and by some municipalities. “For our average client, we can save around $200, 000,” said Kurt.
For some people, Kurt said that it’s significant more for others, while it is a mere drop in the bucket.
“We don’t go after the GMs or Fords of the world, because they’ve already got their own teams of lawyers and accountants looking for these incentives. But for the small to medium sized business owner, who may have to paid a couple thousand in taxes over the last couple of years, they’re really excited about getting cash back,” noted Kurt.
Asked what’s preventing these companies from tapping these programs themselves, Kurt explained the number one roadblock is that their CPA is not their consultant in these areas. “If you have a large firm, they may have an entire division devoted to finding tax incentives, while we have 100 industry specific Program Specialists, Tax Engineers, Financial Analysts and 200+ attorneys (in our network) and can tap them when needed,” said Kurt, who added for the normal CPAs, most are already buried up to their eyeballs with paperwork for their clients.
“Besides, most small to medium sized business owners are of the assumption that their CPAs have a grasp of all the incentives that are out there. The other half of the coin is that most CPAs will admit they know the programs are out there, because they have been to a seminars and know about them, but for some reason aren’t filing all the necessary paperwork because most simply don’t have time to dig into those areas without some help,” explained Kurt, who helps the CPAs consult with their clients, because they don’t want businesses to lose money because of the disconnect that is out there.
“We realized a considerable savings that would’ve otherwise gone to the IRS. We now understand why you are the leader in Cost Allocation Studies,” according to Sandra, Owner, Holiday Inn Location. Meanwhile, Linda Barkey, Owner of a Medical Facility, noted their “accountant told us about this opportunity after we did our remodel, but indicated that the cost could possibly outweigh the benefits. After having our plan done by GMG and utilizing it in our tax preparation our accountant tells us that it was a very good investment that will recoup itself many times over in the years to come.”
Noting that completion of cost segregation studies, property tax recovery, energy tax incentive audits, hiring incentives, and manufacturing tax credit studies have yielded over $300M for clients to date, Kurt said the two ways for small to medium sized businesses to grow their business is, 1) simply to reduce their expenses, and 2) increase their revenues.
“At Kemp Group and Associates, LLC we have been able to combine them both in order to find you savings, then give you the best tools, and strategies to ensure your business grows for years to come,” assured Kurt.
For further information, contact: Kurt Lucien, Senior Growth Advisor