Tax Credits
Maximize Refunds & Reduce Tax Liability
Claim Every Tax Credit You Qualify For & Keep More of Your Money
Tax credits directly reduce the amount of taxes owed, making them one of the most effective ways for individuals and businesses to minimize tax liabilities and increase savings. Whether you’re a self-employed professional, a real estate investor, or a business owner, the right tax credits can boost refunds, lower tax burdens, and enhance financial growth.
At Kewal Krishan & Co., we help individuals and businesses identify, claim, and maximize eligible tax credits to optimize tax savings while ensuring full compliance with IRS regulations. From income-based credits for individuals to incentive-based credits for businesses, our expert tax professionals ensure that no available tax credit goes unclaimed.
Tax Credits
For Individuals
Earned Income Tax Credit (EITC)
- Refundable tax credit for low-to-moderate-income earners.
- Designed to help individuals and families with children reduce tax liability.
Child Tax Credit (CTC) & Additional Child Tax Credit (ACTC)
Up to $2,000 per child under 17 (subject to income limits).
Refundable ACTC for those who qualify beyond standard CTC limits.
Child & Dependent Care Credit
Claim up to 35% of qualifying childcare expenses for dependents.
Helps parents cover daycare, after-school care, and babysitting costs.
Education Tax Credits (American Opportunity & Lifetime Learning Credit)
- Up to $2,500 for tuition and education-related expenses (American Opportunity Credit).
- Up to $2,000 for lifelong learning courses and higher education (Lifetime Learning Credit).
Retirement Savings Contributions Credit (Saver’s Credit)
- Credit for contributing to a 401(k), IRA, or other qualified retirement plan.
- Encourages individuals to save for retirement with tax benefits.
Energy-Efficient Home Improvement Credit
- Claim credits for installing solar panels, energy-efficient windows, and HVAC systems.
- Encourages homeowners to adopt sustainable energy solutions.
Electric Vehicle (EV) Tax Credit
- Up to $7,500 in credits for purchasing a qualifying electric vehicle.
- Varies based on manufacturer and battery capacity.
First-Time Homebuyer Tax Credit (subject to new legislation)
- Tax incentives for first-time homebuyers to offset home purchase costs.
- Potential credit for down payments and closing costs.
Foreign Tax Credit (FTC) for Expats & International Investors
- Offset taxes paid to a foreign country to avoid double taxation.
- Available for U.S. citizens and resident aliens with foreign income.
For Businesses
Employee Retention Tax Credit (ERTC)
- Up to $26,000 per employee for businesses that retained workers during COVID-19.
- Applies to businesses that experienced revenue declines or government restrictions.
Work Opportunity Tax Credit (WOTC)
Up to $9,600 per qualified new hire from targeted groups (veterans, ex-felons, long-term unemployed).
Encourages diversity and workforce reintegration.
Research & Development (R&D) Tax Credit
Federal and state tax credits for businesses investing in innovation.
Applicable to software development, manufacturing, and scientific research.
Investment Tax Credit (ITC) for Renewable Energy
- Federal tax credits for businesses investing in solar, wind, and clean energy projects.
- Encourages sustainability initiatives for commercial properties.
Small Business Health Care Tax Credit
- Available to small businesses providing employee health insurance.
- Covers up to 50% of employer-paid healthcare premiums.
Disabled Access Credit (DAC) & Barrier Removal Deduction
- Up to $10,000 for making business facilities ADA-compliant.
- Encourages accessibility improvements for disabled customers and employees.
Domestic Production Activities Deduction (DPAD)
- Tax relief for U.S.-based manufacturers and production companies.
- Incentivizes domestic job creation and industrial growth.
Employer-Provided Childcare Tax Credit
- Credit for businesses that provide on-site childcare or subsidized childcare assistance.
- Encourages family-friendly workplace policies.
Carbon Capture & Energy Efficiency Tax Credit
- Federal incentives for companies investing in carbon capture and sustainable energy solutions.
- Reduces tax burdens for companies implementing green energy strategies.
Industry-Specific
Tax Credit Solutions
Real Estate &
Property Investors
- Energy-efficient property credits for sustainable upgrades.
- Low-income housing tax credits for affordable rental housing investments.
E-Commerce &
Online Businesses
- R&D tax credits for software development and logistics innovations.
- Work Opportunity Tax Credits for hiring employees in designated zones.
Technology &
SaaS Companies
- R&D tax credits for AI, software development, and cybersecurity advancements.
- Federal tax benefits for startups investing in tech infrastructure.
Healthcare &
Medical Practices
- Small business healthcare tax credits for medical providers offering employee benefits.
- Investment tax credits for purchasing energy-efficient medical equipment.
Manufacturing &
Industrial Companies
- Tax deductions for domestic manufacturing operations under DPAD.
- Energy tax incentives for green factory upgrades and waste reduction.
Restaurants &
Hospitality Businesses
- Employer-provided meal and entertainment tax credits.
- Hiring incentives for employing individuals from underrepresented groups (WOTC).
Import &
Export Businesses
- Foreign Tax Credit (FTC) for global trade operations.
- Duty drawback incentives for international goods movement.
Freelancers &
Independent Contractors
- Earned Income Tax Credit (EITC) for self-employed professionals.
- Home office deductions and tax credits for digital entrepreneurs.
Nonprofits &
Charitable Organizations
- Employer-sponsored volunteer and community service tax credits.
- Energy efficiency incentives for nonprofit-owned properties.
California Tax Credits
For Individuals
California Earned Income Tax Credit (CalEITC)
- Refundable tax credit for low-to-moderate-income earners in California.
- Eligibility based on income, filing status, and number of dependents.
Young Child Tax Credit (YCTC)
Available to taxpayers eligible for CalEITC with a child under 6 years old.
Provides up to an additional $1,083 in tax savings.
California Renter’s Credit
Non-refundable tax credit for low-income renters in California.
Helps offset the cost of rent for eligible individuals and families.
For Businesses
California Research & Development (R&D) Tax Credit
- Credit for businesses engaged in qualified R&D activities.
- Applies to startups, technology companies, and manufacturing businesses.
New Employment Credit (NEC)
- Tax credit for businesses hiring employees from targeted groups in economically disadvantaged areas.
- Encourages job creation and economic development in California.
California Competes Tax Credit (CCTC)
- Available to businesses expanding operations and creating new jobs in California.
- Competitive application process managed by the Governor’s Office of Business and Economic Development (GO-Biz).
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