Lunch & Learn: Government Tax Credits & Incentives

Register
  • November 1, 2022
  • 11:30 am to 1:00 pm
  • Member: $5
  • Non-member: $10
  • Artifact Events
  • 4325 N Ravenswood Ave

Join the GRCC for a Lunch & Learn at Artifact Events on Tuesday, November 1st. Headdy Mulroy Advisor Group will share valuable information on Government Tax Credits and Incentives for businesses and organizations, like the Employee Retention Credit and Research & Development Tax Credit.

The presentation will cover eligibility, qualifying business activities, and how to claim your credits. Headdy Mulroy is a Chicago-based firm that specializes in government-sponsored credits and incentive tax services that reduce tax liability for small businesses.

You registration includes admission and lunch from Jersey Mike’s Subs. Tickets are $5 for GRCC members and $10 general admission.

Employee Retention Credit

During economic disruptions, such as COVID-19, the government steps in to provide temporary tax incentives to lower tax burden on impacted businesses and organizations.

The Employee Retention Credit is one of these incentives. The Consolidated Appropriations Act of 2021 increased this credit’s total potential benefit and lowered the qualification threshold for companies to take it. Due to the credit’s mechanics, the credit can provide a substantial benefit. For example, a company of just ten employees could be eligible for a $70,000 refundable credit for each quarter ($280,000 total in 2021).

There is still time for businesses and non-profits to retroactively claim the Employee Retention Credit! We’ll discuss how you can claim yours at this event

Research & Development Tax Credit

Research & Development Tax Credits are available to businesses that develop new or improved products, processes, software, techniques, formulas, or inventions that result in new or improved functionality, performance, reliability, or quality.

The R&D Tax Credit incentivizes companies to keep high-paying, technical jobs in the US. To achieve this goal, the credit criteria are broad and encompass a wide array of activities. Many small business owners incorrectly assume this incentive is only for cutting-edge tech firms, resulting in eligible companies missing out.

Lots of industries qualify for this incentive, including:

  • Aerospace
  • Agriculture
  • Architecture
  • Brewing
  • Brokerages
  • Construction (including “LEED” related efforts)
  • Cosmetics
  • Engineering
  • Finance/ Insurance
  • Financial Technology
  • Food Production/ Processing
  • Green Energy Projects
  • Information Technology/ Software
  • Manufacturing
  • Mining
  • Pharmaceuticals/ Medical Devices
  • Professional, Scientific, and Technical Services
  • Transportation
  • Utilities
  • Wholesale/ Retail

About Our Speaker

Headdy Mulroy Advisor Group, LLC

Headdy Mulroy Advisor Group

Company Website

Headdy Mulroy Advisor Group, LLC specializes in advising clients and partner CPAs on government-sponsored Credits and Incentive tax services that provide clients with a dollar-for-dollar cash benefit through the reduction of tax liability. We maximize these benefits through our tax technical experience and use of technology. For additional service information, visit www.headdymulroy.com.

Presented by:

Gene Wagendorf III

Associate Director, Greater Ravenswood Chamber of Commerce | View Bio

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