As organizations begin developing their 2027 budgets and strategic plans, tax credits and incentives should be part of the conversation from the start. Hiring, expansion, technology, research, training, and energy projects may qualify for valuable federal, state, or local programs but timing is critical.
Some incentives require applications or approvals before a project begins. Reviewing planned initiatives now can help your organization preserve eligibility, improve projected returns, and avoid missing important opportunities.
What Is on Your 2027 Roadmap?
Consider whether your organization is planning to:
· Hire employees or create new positions.
· Expand, relocate, or open a facility.
· Purchase equipment or make capital investments.
· Develop or improve products, processes, or software.
· Invest in automation or new technology.
· Train or reskill employees.
· Improve energy efficiency or adopt clean-energy solutions.
· Enter a new state or local market.
Each initiative may present different tax credit and incentive opportunities based on its location, timing, costs, and expected business impact.
Potential Opportunities to Explore
Depending on the nature of the project and the laws in effect for 2027, available benefits may include:
· Research and development tax credits.
· Hiring and workforce-related credits.
· Employee training grants and incentives.
· Job creation and investment tax credits.
· Property, sales and use tax exemptions.
· Location based and economic development incentives.
· Energy efficiency and clean energy incentives.
· Grants, rebates, and financing assistance.
Eligibility requirements vary, and programs can change. A project may also qualify for multiple incentives, making early coordination especially valuable.
Why Start Planning Now?
Incentives are most effective when evaluated before major decisions are finalized. Early planning gives your organization time to:
· Compare potential locations.
· Identify application and approval requirements.
· Incorporate incentives into project budgets.
· Establish documentation and tracking procedures.
· Coordinate tax, finance, operations, human resources, and facilities teams.
· Evaluate whether proposed initiatives can be structured to improve eligibility.
Waiting until a project is underway or until the tax return is being prepared, may limit the benefits available.
Make Incentives Part of the 2027 Strategy
As you plan for 2027, take inventory of anticipated investments and operational changes. Aligning business initiatives with available tax credits and incentives can reduce costs, improve cash flow, and strengthen the return on planned investments.
What initiatives are on your 2027 roadmap? Contact our team to identify potential tax credits and incentives before your plans are finalized.