The American Institute of Architects (AIA) is forming a new partnership with Engineered Tax Services Inc. (ETS) to help architects better utilize federal, state and local tax incentives, including 45L credits, research and development (R&D) tax credits, Historical Tax Credits, and the Energy Efficient Commercial Building Deduction (Section 179D).
“Depending on the project, architecture firms can save millions of dollars by taking advantage of tax benefits,” says AIA EVP/Chief Executive Officer Robert Ivy, FAIA. “Through our work with ETS, we hope to educate more of our members and firms about these benefits while also making the process easy and efficient.”
As part of the partnership, ETS will provide consulting services to AIA architect members and firms to help them better use incentives they are eligible to receive. AIA members will also be provided with educational information on AIA’s website regarding the rules and benefits of R&D credits, the 179D deduction and other federal tax code provisions. Additionally, ETS will be developing a cost estimation tool for firms to gauge tax credit savings.
“Engineered Tax Services is committed to the AEC industry and is excited about this partnership with the AIA” says ETS CEO Julio Gonzalez. “Our broad service offering can make a significant impact for those with qualifying design activity, to help reduce tax liability, thereby allowing firms to reinvest those funds into corporate growth, employees and innovation.”
AIA and ETS, both advocated for the creation and continuation of R&D tax credits and Section 179D deductions, which have been expired since Dec. 31, 2017. Their joined efforts will help ensure the extension and retention of these meaningful incentives for the AEC industry.