Brayn Consulting

R&D Tax Credit

The R&D tax credit is one of the most powerful incentives in the tax code. Due to the broad definition of “qualified research”, businesses in nearly every industry take advantage of the credit. To see what activities may qualify, check out the Industries below to learn about R&D for your company. The R&D tax credit is based on “qualified research expenses” (QREs) – for every dollar spent on QREs, you can earn up to 8.0% in federal tax credits! Additionally, over 40 states offer similar R&D tax incentives that can double benefits in some cases.

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Cost Segregation

Cost Segregation is a tax strategy for acquired, renovated, and newly built buildings that provides the benefit of accelerated depreciation, which reduces taxes and increases cash flow. Building owners can take advantage of the ability to look back and “catch-up” lost depreciation deductions without having to amend a tax return. At BRAYN, Cost Segregation studies are performed under the responsible charge of professional engineers with industry experience in construction to ensure the most thorough and comprehensive study.

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Enterprise Solutions

Understanding the financial business is as important as understanding the project progress. Enterprise Solutions can help take the confusion and frustration of not completely understanding the financial considerations and necessities for making sure the firm is working smarter and not harder. Our goal is to create efficiencies.

Our services include (but are not limited to) the following:

Financial Review

Time and Expense Entry

Billing Workflow Review

Accounts Receivable and Collections Review

Project Management and Reporting

Services can be designed to fit your needs – from one process to training with your needs deciding the engagement.  From a billing per hour to virtual or on-site training to monthly consulting engagements, we are able to work with your teams as needed.

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Tax Controversy

The Internal Revenue Service and various state taxing authorities will occasionally examine taxpayers’ refund claims to ensure compliance with statutes and rules. Taxpayers must be prepared to provide support for their claims to avoid disallowance of refunds and imposition of penalties and interest. BRAYN understands the complexities of tax controversy, defends its clients under audit, and tailors comprehensive documentation packages to substantiate the taxpayer’s claims. With over 99% of claimed credits and deductions staying in client pockets, it’s no wonder that BRAYN is a leader in the specialty tax space.

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Payroll Tax Credit

As an extension of the R&D tax credit, the payroll tax credit refers to a new opportunity for taxpayers who are deemed “qualified small businesses” and perform qualified research to offset up to $250,000 of the employer portion of FICA payroll tax, starting as early as the 2nd payroll tax quarter in 2017.

​ This is an especially great opportunity for start-ups performing R&D!

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179D Energy Efficient Commercial Building Deduction

The 179D incentive is a federal tax deduction of up to $1.80 per square foot available to architects, engineers, and contractors for their work on newly constructed and renovated government buildings. Designers and builders of K-12 schools, city and county buildings, state universities, and federal and military buildings are taking advantage of this lucrative tax incentive for energy efficient HVAC, lighting, and building envelope scope of work. Commercial property owners are also able to claim this valuable tax incentive.

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45L Energy Efficient Home Credit

The 45L Tax Credit is available to single-family and multi-family builders for exceeding certain energy standards. The credit is $2,000 per dwelling unit to be claimed in the tax year each unit is first sold or leased. The credit can be claimed for newly constructed and substantially renovated homes and apartments. Claiming the credit requires energy modeling, inspections, and certification from an eligible certifier.

people for ERTC

Employee Retention Tax Credit

If you’ve experienced a decrease in quarterly revenue in 2021 or last year, the Employee Retention Tax Credit (ERTC) could provide you with significant tax savings.

Also, if a government order required you to cease or partially suspend operations during 2020, you could potentially be eligible to receive this tax savings.  Highlights of the ERTC include:

  • Refundable Credit – The credit amount that is claimed is the dollar value you are entitled to receive. The amount you receive is not limited by the amount of tax paid.

  • Applies to Companies Big and Small From Virtually All Industries

  • Claimed on Quarterly Basis – The credit is claimed on the Forms 941 filed every quarter.  You don’t have to wait until next year to claim a credit for expenses incurred in 2021. You can also amend prior quarter Forms 941 for previously unclaimed credit.

BRAYN Consulting provides a no cost Phase 1 Analysis to determine eligibility and provide an estimate of the tax benefit available.  

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Fuel Tax Recovery

For federal purposes, taxpayers may be eligible for refunds of tax paid on gallons of gasoline, diesel, and other fuels used in vehicles and equipment. Many states extend additional refund opportunities to vehicles licensed for on-road use, such as cement mixers and garbage trucks, and for specified activities, such as driving off-highway and idling. Companies with fleets in the transportation, distribution, refuse collection, construction, and oil and gas industries should conduct a free assessment to determine whether they are missing significant tax savings.

Additionally, fuel resellers/marketers often require licenses and registrations in multiple jurisdictions to conduct business. The licensing and reporting process differs from state to state and from state to federal, which often leads to oversights and costly mistakes, including additional tax liabilities, penalties, and interest. For example, a single miscode of a truck delivery on a Form 720-CS incurs a $10,000 penalty, which may have been made on multiple reports over a series of months, snowballing quickly into a large sum. BRAYN works with taxpayers and the taxing authorities to help reduce or even eliminate the liability, penalty, and interest.