alliantgroup is proud to announce the expansion of its tax deduction service line for American made goods.
The Domestic Production Activities Deduction (DPAD) is a federal tax deduction available to businesses that utilize domestic manufacturing and production activities which was adopted in 2005. This incentive is designed to reward the manufacturing and production of goods in the United States. DPAD has typically been associated with traditional manufacturers, but the deduction has been claimed by an array of companies from varying industries. In entirety, this deduction allows qualifying companies to receive up to a 9 percent tax deduction on income earned from qualified activities.
“In a time when there is a heavy emphasis placed on buying and producing American made goods, our firm felt it was important to expand our efforts with respect to DPAD. DPAD is an excellent way to reward those companies that have chosen to keep their manufacturing facilities on American shores,” said alliantgroup’s CEO Dhaval Jadav.
Other industries that have qualified for DPAD include architecture, engineering and construction firms performing services on domestic construction projects, film and video producers, sound recording companies, computer software developers, food and beverage producers and electricity and natural gas producers. If a business is engaged in the production of domestic goods and adheres to other tax compliance requirements, it may qualify for this deduction.
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