The CARES Act offered businesses two recovery options: the Paycheck Protection Program (PPP) and Employee Retention Tax Credit (ERTC). Many chose PPP because its loans could be forgiven, foregoing the ERTC.
The Federal R&D tax credit is available to US businesses that develop or improve new products, processes, software, formulas, or business components. Additionally, over 30 states offer R&D credits to offset state tax liability.
Shannon Scott, CEO of OnCentive and Trak Capital, moved his company from Gadsden to Birmingham, Alabama. OnCentive invests extra capital in small and midsize businesses and advises on federal programs, incentives, and tax credits.
OnCentive's team includes CPAs, tax attorneys, and credit experts with more than 120 years of combined tax experience. The company says its experts have recovered more than $3 billion in tax, hiring, and other business incentives.
OnCentive says its leadership has more than 120 years of combined tax experience and its experts have recovered more than $3 billion in tax, hiring, and other business incentives.