For many businesses, identifying and capturing all available tax credits is crucial for maintaining profitability and fueling growth. At Renaissance Advisory, we specialize in helping companies uncover valuable tax savings they might otherwise overlook, turning missed opportunities into real financial benefits. Below, we highlight some key tax-saving programs we offer that can enhance your company’s financial health.

1. Research & Development (R&D) Tax Credit
   The R&D tax credit offers a significant reduction in federal (and sometimes state) taxes for businesses engaged in activities like innovation, product development, or process improvements. Contrary to popular belief, this credit isn’t just for tech giants; companies in various industries, such as manufacturing, food services, and construction, can qualify. At Renaissance Advisory, we work with you to identify these qualifying activities and maximize your R&D tax credit, potentially saving your business up to $250,000 annually.
2. Section 125 Plans
   A Section 125, or “cafeteria plan,” lets employees pay for eligible expenses, like health insurance and dependent care, with pre-tax dollars, reducing their taxable income and your payroll tax liability. Implementing a Section 125 plan can save your business an average of $600–$800 per employee each year, offering a significant tax reduction while boosting employee satisfaction by providing them with a tax-advantaged way to cover essential expenses.
3. Credit Card Processing Savings
   Credit card fees can be a major overhead cost. Renaissance Advisory’s dual pricing program helps reduce or eliminate these fees by allowing businesses to offer different pricing for cash and card payments. By passing the processing cost to credit card users, businesses can save considerably without impacting customer service. This program integrates seamlessly with most point-of-sale systems, making it an efficient way to start saving on every transaction.
4. Comprehensive Fixed Assets Review
   Many businesses miss out on tax savings embedded in their fixed assets. Renaissance Advisory conducts a thorough review to uncover tax-saving opportunities, like accelerated depreciation and property tax reductions. For example, in a review for a large hotel chain, we identified $3.7 million in tax savings. These opportunities exist in buildings, equipment, and property improvements, and our team ensures you maximize every available deduction.
5. Visa/Mastercard Settlement Claims
   If your business processed Visa or Mastercard transactions between 2004 and 2019, you may be eligible for compensation from a settlement fund aimed at businesses affected by past transaction fees. Renaissance Advisory handles the claim process, ensuring you don’t miss this one-time opportunity to recover funds. With the deadline fast approaching in February 2025, it’s crucial to act quickly.

Getting Started with Renaissance Advisory
Renaissance Advisory makes navigating complex tax credits and cost-reduction strategies easy. Our team works closely with you to maximize every program available to your business, and our contingency-based model means you only pay when you save. Ready to discover hidden savings? Schedule a free consultation with us today.