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About Apex

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About Apex

  1. 1. Tax Credits & Incentives Leveraging the Tax Code to Generate Revenue
  2. 2. Tax Credits & Incentives We are Apex Advisors Apex Advisors is a national tax credits and incentives advisory firm. Since 2001, we have performed over ten thousand tax credit studies for companies in more than 60 different industries, ranging from architecture and engineering to software development and manufacturers of all kinds. Headquartered in Los Angeles with offices in San Jose and Auburn, Alabama, we are a trusted and reliable resource for a wide variety of tax credits and incentives at both the federal and state level. The Apex Advantage We have a unique combination of experience, size and efficiency that enables us to deliver comprehensive, compliant and effective tax credit solutions for businesses of any size. With an experienced staff of 50 professionals, we are known for our advanced accounting methodologies and robust audit defense. In fact, we have one of the best track records in the industry for mitigating audit challenges, largely due to our meticulous documentation and a tax controversy team comprised of former IRS agents and attorneys. There are a myriad of tax credits and incentives available to businesses, which can provide a significant boost to revenue. Leveraging these benefits, however, requires expertise and resources that most businesses and their financial advisors do not have. Apex Advisors is the perfect partner to help you take advantage of tax credits and incentives. We have the experience and size to deliver effective results, allowing you to lower tax liability and enhance your financial success. WWW.APEXADVISORSUS.COM | (213) 487-3333 | APEX ADVISORS ABOVE 80% ABOVE 90% ABOVE 95% NO CHANGE Apex Advisors has a strong track record of defending R&D tax credit claims with the IRS. Civil and Water/Wastewater Treatment Engineering Firm: Received tax credits for both federal and California totaling $2.4M over 4 years. IRS and FTB audits resulted in no change to tax credit claim. Food Manufacturer: Received tax credits for California totaling $220,000 over 2 years. California FTB audit resulted in no change to tax credit claim. RECENT AUDIT SUCCESS
  3. 3. Our Services WWW.APEXADVISORSUS.COM | (213) 487-3333 | APEX ADVISORS Research & Development Tax Credits The Research & Development (R&D) tax credit is designed to encourage businesses to increase their competitiveness by providing a credit for activities that qualify as research and development. This credit benefits a wide range of industries, including biotechnology, advanced manufacturing, architecture & engineering, software development and many other types of businesses. Section 179D Green Building Tax Deduction Section 179D allows businesses to deduct the costs of energy-efficient commerical buildings. This incentive encourages greater energy efficiency in large-scale building projects and is typically utilized by developers, architects, engineering and construction firms. Work Opportunity Tax Credit The Work Opportunity Tax Credit (WOTC) is available to any business that hires individuals from “employment challenged” targeted groups. These individuals include U.S. veterans, recipients of certain forms of government assistance and individuals with a previous felony conviction. The tax credit ranges from $1,200 to $9,600 per individual, depending on the qualifications of the employee. IC-DISC Exporter Tax Benefit IC-DISC stands for Interest-Charge Domestic International Sales Corporation, a tax benefit that is provided to businesses that produce US-based products for export to foreign countries. The benefit provides a tax exemption on income earned from foreign sales – ideal for manufacturers, architects and engineering firms that generate significant income from international sales or projects. Section 45L Energy Efficient Home Tax Credit Owners of newly constructed or rehabilitated residential structures are eligible for tax credits if they meet certain energy-saving standards. The credit is equal to $2,000 per qualified unit, which is limited to any residential structure that is three stories or less. New Markets Tax Credits The New Markets Tax Credit (NMTC) is a highly specialized credit that provides a tax benefit for financing economic development projects in low-income communities. Investors who provide capital to a qualified Community Development Entity receive a 39 percent tax benefit. Other Federal and State-Specific Tax Credits Apex Advisors actively monitors the legal and policy landscape to make sure our clients are up to date with all issues related to tax credits and incentives. We advise our clients on a variety of federal, state and local tax credits including job tax credits, sales use tax exemptions, employee training credits and a variety of other benefits.
  4. 4. Executive Team Douglas Kim, CPA, MBT Doug is a Principal at Apex Advisors. Doug split his 20 years of accounting experience at Arthur Andersen and Deloitte & Touche, managing several groups that provided services to Fortune 500 clients. Doug has extensive knowledge of tax credits and tax principles. He utilizes his expertise to advise clients on best practices and ensure compliance and quality control of Apex Advisor services. David Ahn, CPA, MBT David is a Principal at Apex Advisors. David has more than 20 years of accounting and financial auditing experience. He spent 11 years in a variety of management positions at Ernst & Young and Deloitte & Touche, becoming a key manager in their R&D tax credit division. David utilizes that experience overseeing all R&D tax credit activities for Apex Advisors. John Kim, JD, CPA John is a Senior Tax Manager at Apex Advisors. He has over 10 years of experience working as a financial auditor and tax attorney. His prior experience at the IRS Examination Division and Office of Chief Counsel provides our clients with invaluable insight and guidance. His law experience is utilized to ensure legal compliance of all tax credit projects at Apex Advisors. Annika Vanghagen, JD, LL.M Annika is the Director of Tax Controversy at Apex Advisors and specializes in analyzing a company’s qualifying R&D expenditures to develop effective tax credit strategies and solutions. With over 10 years of experience, Annika spent several years as an in-house lawyer for Qwest Communications, working on cases that ranged from international telecom actions to patent infringement. Jessica Creevy, JD, LL.M Jessica Creevy is a Senior Project Manager at Apex Advisors and specializes in tax principles and tax controversy matters. She has represented a number of mid to large size businesses during their examinations and appeals with the Internal Revenue Service and state taxing authority. Prior to joining Apex, Jessica was an attorney with the Internal Revenue Service. WWW.APEXADVISORSUS.COM | (213) 487-3333 | APEX ADVISORS
  5. 5. Research and Development Tax Credits WWW.APEXADVISORSUS.COM | (213) 487-3333 | APEX ADVISORS The Research & Development Tax Credit is one of the oldest and most successful business tax benefits available. More than $10 billion in tax credits were issued by the IRS in 2012, providing US-based businesses with an opportunity to innovate and grow. In addition to the federal R&D tax credit, a majority of states offer their own R&D tax credit. 20122007200219971992 $10B $8B $6B $4B $2B Since R&D tax credits are provided on a dollar-for-dollar basis, the true value of these credits is essentially three times a standard deduction. The number and types of businesses that qualify for R&D Tax Credits is surprising. Engineering firms, pharmaceuticals, electronics and software developers are obvious choices for R&D, but you might not realize that many types of manufacturers – medical devices, packaging, plastics, even apparel – also qualify for R&D activities. Qualified Research Expenses (QRE) are the key unit used to determine R&D tax credit values. QREs are comprised primarily of wages that must meet the guidelines for a qualified activity. Apex Advisors has the expertise to accurately identify and quantify QREs in as many areas as possible, ensuring the highest possible value of R&D tax credits. However, we take great lengths to ensure our claims fully comply with IRS and state tax board rules. Audit defense is always included with our service and we have a very high rate of The size of the R&D tax credit varies greatly because it depends on the amount of R&D activity that can be quantified. An analysis of our client base shows that the average size of the federal R&D tax credit in one year is approximately 1% of a company’s annual revenues. However, federal R&D tax credits can be claimed retroactively for up to three years and 33 states provide an additional R&D credit, resulting in a much larger benefit. contractor costs supplies & materials salaries & wages QUALIFIEDRESEARCHEXPENSES Source: Statistics of Income Division: 2001 - 2012 Corporate Returns Data Equipment & Component Manufacturing Chemicals & Pharmaceuticals Computer Systems Design Computer & Electronics Manufacturing Other Non- Manufacturing Other Manufacturing Scientific R&D
  6. 6. WWW.APEXADVISORSUS.COM | (213) 487-3333 | APEX ADVISORS R&D tax credits in architecture & engineering Many financial advisors do not realize that in 2001, the IRS eliminated the “Discovery Rule,” which immediately made the R&D credit available to many architecture and engineering firms. The following is a list of Apex Advisors’ architecture and engineering clients and the R&D tax credits earned by these firms. Apex Client Revenues Credit Architect A $19 million $340,000** Architect B $14 million $278,000** Architect C $7 million $87,000* Engineering Firm A $217 million $762,000** Engineering Firm B $54 million $420,000** Engineering Firm C $16 million $301,000** R&D tax credits in manufacturing R&D tax credits in software A significant portion of R&D tax credits is given to the manufacturing industry, but the diversity of manufacturing segments makes it difficult to determine whether R&D tax credits are applicable. All manufacturers should discuss their business with an R&D tax specialist such as Apex Advisors. *Federal Credits only / **Federal and State Credits *Federal Credits only / **Federal and State Credits *Federal Credits only / **Federal and State Credits Apex Client Revenues Credit Food Processor $63 million $1,100,000** Tool, Die & Mold $20 million $1,100,000* Golf Equipment $77 million $740,000** Auto Parts $42 million $410,000* Electronics $25 million $280,000* Plastic Injection Molds $9 million $250,000* Software companies have a tremendous amount of R&D activities and qualify for a large amount of tax credits relative to their company size. Software programmers, software analysts, QA testers and support team members all qualify for R&D activities. Apex Client Revenues Credit Software Company A $53.0 million $1,985,000* Software Company B $9.5 million $720,000** Software Company C $8.0 million $410,000*
  7. 7. WWW.APEXADVISORSUS.COM | (213) 487-3333 | APEX ADVISORS 179D Green Building Tax Deduction The Section 179D tax deduction provides a benefit up to $1.80 per square foot for commerical structures that are deemed energy efficient. It measures interior lighting, HVAC systems and building envelope for energy efficiency gains. Although many building owners typically take this deduction on private construction or rehabilitation projects, designers of public and government buildings can receive allocations to receive 179D deductions in lieu of the agencies they represent. This includes architects, engineers and construction companies. The energy efficiency requirements are based on the ASHRAE (American Society of Heating, Refrigerating and Air Conditioning Engineers) 2001 standard. Due to the advancement in energy efficient materials and raised building code standards in most states, many financial service providers do not realize that recently constructed building already qualify for the 179D deduction. 179D certification must be performed by an independent third party such as ourselves. We have certified engineers and contractors who will come on-site to conduct energy audits of buildings, utilizing qualified software and a comprehensive, hands-on approach. BUILDING ENVELOPE 60¢/ft² HVAC 60¢/ft² LIGHTING 60¢/ft² 500,000 ft² courthouse construction $900,000 deduction 250,000 ft² high school construction $450,000 deduction 117,000 ft² municipal building $210,600 deduction
  8. 8. A trusted partner. Apex Advisors understands that tax-related issues are sensitive for businesses, so we’re diligent about compliance and vigorously defend any audits with the IRS and state tax boards. Our goal is to make you feel comfortable with the tax credit process and deliver solutions that are thorough, effective and trusted. We’re in it for the long haul. Apex Advisors strives to build long term relationships with its clients. We’ve built a large following of companies that rely on our expertise to deliver solid financial benefits year in and year out. We invite you to learn more about Apex Advisors and find out why hundreds of companies across the country consider us the only option for tax credits and incentives. A better option. If your firm is already working with a tax credit provider, we commend you and we want to prove we’re a better choice. We believe our sole specialization in tax credits and incentives leads to closer client support, increased cost efficiency and more effective results. We have plenty of references, so feel free to ask about our history. The bottom line is that we’ll do whatever it takes to convince you that Apex Advisors is a better option. WWW.APEXADVISORSUS.COM | (213) 487-3333 | APEX ADVISORS (213) 487-3333 3460 Wilshire Boulevard, Suite 900 Los Angeles, California 90010 www.apexadvisorsus.com info@apexadvisorsus.com