Curious about the qualifications for tax credits? We're breaking down the criteria and debunking common myths to help you navigate the tax landscape with confidence.  

Host Patrick Lonergan sits down with tax strategy expert Matthew Geltz from KBKG to explore the world of holistic tax planning. With a focus on specialty services and innovative approaches, Geltz sheds light on how businesses and individuals can optimize their tax savings. 

Throughout the discussion, Geltz provides invaluable insights into key tax strategies, such as Cost Segregation studies and the significance of creating distinct buckets to maximize deductions effectively. Listeners get to listen in as Patrick and Matthew explore tax credits, including opportunities surrounding energy efficiency initiatives like 179D. They will discuss the intricacies between energy efficient tax credits and deductions. Geltz explains the pitfalls with concepts such as the Employee Retention Tax Credit, offering clear guidance on qualification criteria and potential rewards for eligible businesses. 

From understanding the nuances of how to qualify for these deductions and credits and navigating changes in legislation, Geltz and Lonergan provide listeners with actionable strategies to optimize tax planning and capitalize on available incentives. 

Key Takeaways: 

• Understanding the nuances of Cost Segregation studies 
• Exploring tax deductions such as 179D, presents opportunities for maximizing savings 
• Distinguishing between tax credits and deductions 
• Qualification criteria for tax credits involve both qualitative and quantitative assessments 
• Have professionals on your side to stay up on legislative changes, is key to effective tax planning 

Resources:   

Guest contact: Matthew.gelt@kbkg.com

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Credits:    

Sponsored by Vital Wealth    

Music by Cephas    

Audio, video, and show notes produced by Podcast Abundance   

Research and copywriting by Victoria O'Brien