Tax Credits & Incentives
Tax credits and incentives can significantly improve cash flow—but only when they’re pursued correctly. Federal, state, and local programs offer credits, abatements, grants, and forgivable loans designed to encourage investment, job creation, and growth. Navigating the requirements, timelines, and risks requires an advisor who understands the landscape.
Lumsden McCormick brings an insider’s view of available incentives and guides you through every step of the process. From evaluating opportunities and managing applications to accelerating funding and protecting confidentiality, we help ensure no benefit is left on the table and every incentive delivers measurable value to your bottom line.
Our Approach
Opportunity Identification
We assess your business activities and location to identify federal, state, and local tax credits and incentives that align with your growth plans.
Strategic Evaluation & Planning
Our team evaluates the benefits, risks, and cash flow impact of each incentive to determine which programs deliver the greatest value.
Application & Compliance Management
We manage application requirements, deadlines, and agency interactions, including Empire State Development and the Consolidated Funding Application, so you stay compliant and on track.
Funding Acceleration & Oversight
By integrating cash flow projections and timing considerations, we help accelerate the receipt of funds and maximize financial impact.
End-to-End Guidance
From R&D and historic rehabilitation credits to energy incentives and workforce grants, we lead the process from start to finish—ensuring every available benefit is pursued and secured.
Our Services
Energy Tax Credits
Energy tax credits help offset the cost of investments in energy-efficient upgrades and renewable energy projects. Lumsden McCormick assists businesses and individuals in identifying available federal, state, and local energy incentives, ensuring compliance with program requirements and maximizing the tax benefits.
Film Tax Credits
Film tax credits provide production companies with valuable incentives that can significantly reduce the cost of filming and post-production. Lumsden McCormick helps productions navigate eligibility requirements, documentation, and compliance to maximize available credits, supporting efficient funding and smooth execution throughout the production process.
Historic Tax Credits
Breathing new life into historic properties requires a financial partner who understands the complexity behind the credits. Lumsden McCormick guides clients through every stage of the process, from initial financial modeling, forecasts, and cash flow analysis to tax planning and structuring. We also provide ongoing accounting and bookkeeping support, tax compliance and return preparation, and financial statement audits, ensuring your project stays on solid footing from groundbreaking to completion.
Research & Development (R&D) Tax Credits
The Research & Development (R&D) Tax Credit is one of the most valuable and underutilized incentives available to U.S. businesses, rewarding companies that invest in developing new products, processes, or technologies. Many businesses don’t realize they qualify, or leave significant money on the table by not claiming the full credit they’ve earned. Whether you’re a startup offsetting payroll taxes or an established manufacturer pushing the boundaries of what’s possible, Lumsden McCormick works closely with your company to identify qualifying activities, document expenses, and maximize the credit.
Latest Insight
FAQs About the Research Credit
The research credit isn’t just for labs or tech companies. Many businesses are missing out because they mistakenly assume they don’t qualify, or they aren’t sure where to start. Learn how the credit works and what to consider.
