The most significant economic growth is happening with companies who have fewer than 1,000 employees
Houston, TX (PRWEB) August 21, 2012
alliantgroup hosted more than 100 CPAs and business leaders from across the country at its Houston headquarters for a Strategic, Tax and Legislative Think Tank on August 6 and 7. The high energy event featured interactive discussions with U.S. Senator John Cornyn and top business and tax experts. The event also included alliantgroup advisory board members: former IRS Commissioner Mark Everson, former Congressman Jim Ramstad, former Governor Bob Riley, former HOK Group CFO Bob Pratzel, and Dean Zerbe and Dawn Levy who both served as Tax Counsels to the U.S. Senate Finance Committee.
Senator Cornyn's talk focused on the tax and legislative issues impacting businesses and their CPA advisors. He emphasized the importance of small and mid-size companies taking advantage of the tax incentives that Congress intended for them to use, particularly to survive during the tough economic climate. “The most significant economic growth is happening with companies who have fewer than 1,000 employees,” he said. “That's why it's important for companies to utilize services like alliantgroup to figure out the complexities of the tax code and take the incentives they deserve, even if they don't have an army of accountants.” The event provided attendees a forum to voice their concerns directly to a sitting member of the Senate Finance Committee. Cornyn stressed the importance of members of Congress being able to hear directly from business leaders and expressed appreciation for the attendees' candor.
After Cornyn's insightful talk, alliantgroup's Vice Chairman Mark Everson moderated a lively panel discussion with Jim Ramstad, Bob Riley, Dawn Levy, and Dean Zerbe on the current economic state of the nation and the future of tax incentives and tax reform. Ramstad kicked off the discussion by observing that the U.S. is going through the “most challenging and dangerous time since World War II.” In Levy's opening remarks, she noted that in terms of tax credits, she predicts some “will go away while some will stay and get bigger” as a result of the fiscal cliff. Zerbe spoke on the absolute necessity of renewing the Alternative Minimum Tax (AMT) turnoff for businesses.
The conference also included a roundtable for business owners and leaders in the Architecture, Engineering, and construction industries, led by Jadav, Everson, and Pratzel. The group spoke on challenges facing the three industries, including narrowing profit margins, project management issues, staffing and development, diversification, and availability of work. Pratzel noted that 40% of architects are currently out of work and building in the commercial and retail sectors remains in a downturn. The discussion uncovered several solutions to these challenges including positioning businesses to reap the benefits of global market opportunities, preparing for long-term focused strategies, and utilizing tax credits to capture needed capital and maintain a competitive edge.
alliantgroup's Managing Director David Ji believes the ideas shared at the event will have an impact far beyond Houston. “The Think Tank was a great success for everyone involved,” Ji said. “The attendees thoroughly picked the brains of the D.C. insiders and tax experts we brought to them and came up with some great ideas, information, and strategies that they will take back to their clients to be better prepared and about effectively securing tax incentives that can be an immediate benefit to businesses.”
alliantgroup is the nation’s leading specialty tax firm and has helped thousands of companies claim more than $2 billion in tax incentives. alliantgroup knows the R&D credit is a crucial tool for promoting national prosperity and believes this new legislation, if enacted, would reap massive benefits across the board.