Hiring Credit Specialists, LLC

Q. Doesn't my CPA already handle this?

A. Maybe.  However, this program is more of an HR and Employee Retention Program than it is an accounting function.  Unless your CPA has a process in place to screen all of your new hires to see if they fit into any of the 11 eligibility categories, there is a strong chance you are leaving significant amounts of money on the table. 

Q. Why should I partner with HCS?

A. We are experts in the field and provide consistent program management.  You don't have to worry about always having a trained staff member (who is able to take time away from their normal job duties) to perform the work necessary to obtain these credits.

Q. What types of businesses may qualify?

A. Taxpayers investing, operating or located within an Enteprise Zone may be eligible for credits.  All industry types may qualify.

Q. What types of employees may qualify?

A. Employees that fit into any 1 of 11 eligibility categories.  They do not need to live in the area to qualify.  They can be entry level to top management.  Owners can even qualify.  Full-time, part-time, hourly, salaried and seasonal workers can qualify.

Q. Can we do this internally?

A. Yes.  However, many companies find that they have more success by hiring a consultant.  The reason is that if the employee you spent time and money to train to do this program is promoted or leaves the company, the knowledge of the program goes with them.  It takes time (lost credit opportunities) to get the next employee up and running.  In many cases, the program is dropped until tax time, and at that point, it is too late to try and capture any credits.

Q. Why start now?

A. You have qualified employees working for you now.  If these employees leave the company prior to being screened, you could lose out on the opportunity to capture their credit.  This could result in tens of thousands of dollars in lost credits - per employee.  Partnering with HCS ensures that you are maximizing all of your allowable EZ tax credits.

Q. We are a sub-S Corp.  Can we qualify for the credits?

A. Yes.  In fact, the sub-S Corp is one of the best entities for this program.  As a sub-S, the shareholders claim 100% of the credit as a pass through entity and the corporation claims 33% of the credit. 

Q. If I claim the credits, will it increase my chances of being audited?

A. No!  The reasons companies get audited are that they were randomly selected or the figures on their returns were questionable.  If your reports are completed accurately, there will be no reason for the credits to cause an audit.  The state wants businesses to utilize the credits and it would be counterproductive to use it as a tool to target tax payers for audits. 

Q. What if our employees make too much money to qualify: 

A. How much you pay your employees has no bearing on eligibility.  Qualified employees can be minimum wage earners through top management.  Owners can even qualify!

Q. What if our employees don't live in the area?

A. They do not have to live in the area to qualify.

Q. What if we hire union workers?

A. There is a strong likelihood that many of your union workers will qualify.  Remember, there are 11 targeted groups that cover a wide variety of eligibility categories.  They just need to fit into one of them to qualify for the credits.

Q. Will you speak with my CPA to see if these credits are beneficial to me?

A. Yes, we feel that it is a good idea to involve your CPA in the exploratory discussions.

Q. How much does it cost?

A. The cost is based on a percentage of tax savings generated.

Q. When can you start?

A. Typically, we can start the program within a week of engagement.