COMPANY PROFILE

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ROMO INCENTIVES GROUP

Romo Incentives Group logo


CONTACT INFO

Address

1156 Suncast Lane, Suite 3
El Dorado Hills
CA, 95762
United States
Phone
(916) 941-8383
Fax
(916) 941-1736
Primary
Albert Romo

About Us

Romo Incentives Group (RIG) is a tax incentive consulting firm that helps businesses in the wine industry reduce their cost of doing business.  Tax incentive programs present tremendous savings opportunities yet receive little publicity.  As a result millions of dollars in tax credits remain unclaimed each year.  Since its inception in 1999, our firm has saved our clients tens of millions of dollars utilizing the benefits of little known government incentive programs.  Our clients range in size from small family owned wineries to the two largest wine producers in the world. 


News Archive


Looking for R&D Tax Credits for your Winery?
07 March, 2017

Overview

The R&D Tax Credit was introduced in 1981 and is available at both the federal level and in 38 states (including California).  In 2004, Treasury finalized Regulations for claiming the R&D Tax Credit that eliminated the “Discovery Test” and relaxed the documentation requirements.  The Alternative Simplified Credit (ASC) was introduced shortly thereafter.  These changes have been very taxpayer-friendly and allowed many companies the opportunity to claim the R&D Tax Credit for the first time.  In December 2015, “The Protecting Americans from Tax Hikes” (PATH) Act made the federal R&D Tax credit permanent, after its multiple expirations and renewals since inception.  The California R&D Tax Credit continues to be available as a permanent tax credit.  The R&D Tax Credit rewards companies that devote time and resources to product development or process improvements and is calculated on qualified wages, supplies and contract research.

Although the perception is that the R&D Tax Credit is intended for Silicon Valley, it is claimed by companies in variety of industries including (but not limited to):

  • All manufacturing
  • Tool & die
  • Winemaking
  • Chemical companies
  • Software development
  • Agribusiness
  • Waste management
  • Food processing
  • Architectural and engineering firms

Benefit

The credit is generally equal to 13% of qualified costs and is a dollar for dollar match on both federal and state taxes owed. Taxpayers can carry forward the credit for up to 20 years and may amend any open prior tax years to claim refunds. In 2006, more than 15,000 companies claimed the credit with a benefit of over $8 billion.

Process

We take project lists and tie expenses to them with evidence such as contemporaneous documents and testimony. We work with the client to determine project-based costs even though they do not have a job costing system. This meets the most compelling argument by the Internal Revenue Service (IRS) and Franchise Tax Board (FTB) head on and sets us apart from our competitors.  We provide an assessment of benefits at no cost and offer both contingency and flexible fee arrangements to conduct a full study.  As a warranty of our services, we also offer audit support. Our tax controversy and audit defense team, which includes former IRS and FTB agents, ensures that our work will stand up to examination.

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Winemaking is quintessential R&D. The tax authorities agree.
15 March, 2016

Activities that qualify for R&D tax credits range from experimentation with alternative cultivation, fermentation and blending techniques to improvements in bottling and packaging methods or attempts to optimize clone quality, yield, batch consistencies, and shelf life.  The list goes on.  All of this is R&D.

Claiming R&D Tax Credits – the Process 

Romo Incentives Group (RIG) is one of few consulting firms that specialize in identifying tax credits for the winemaking industry. RIG’s President Albert Romo himself owns a vineyard and is closely in tune with the complexities of the craft.

RIG’s R&D consultants work with vineyards and wineries of all sizes and in all stages of operations – from those undergoing initial planting and developing early vintages to those that have been around for over a century.    RIG services the world’s largest wineries, in addition to smaller wineries and family owned operations.  At no cost, RIG’s expert team performs a scoping exercise to identify qualifying activities and associated costs.  If the tax benefits exist, RIG proceeds with a R&D Tax Credit Study, conducting a thorough analysis, computing the credits, and handling all documentation.  Should an audit occur, RIG handles this process, as well. 

Due to a perception that R&D credits are limited to certain industries (heavy manufacturing, laboratories, software), the wine industry has neglected to claim millions of dollars in tax credits to offset both federal and state tax liabilities. RIG is working to change this. 

 For more information, please contact Caroline Wolf, RIG’s Director of Research & Development Tax Services, at (310) 746-8130 or cwolf@romoincentivesgroup.com.


13 cents of every dollar spent on research may be recaptured through tax credits
09 December, 2015

Unknown to many, there are federal and state tax credits available to reward and encourage research related to viticulture, enology, product/process developments, product/process improvements, and packaging technology innovations.  In fact, Research and Development (R&D) Tax Credits have been available for decades, allowing taxpayers to recoup 13 cents back on each dollar spent on qualifying research activities.

 

Winemaking is quintessential R&D.  The tax authorities agree.

Activities that qualify for R&D tax credits range from experimentation with alternative cultivation, fermentation and blending techniques to improvements in bottling and packaging methods or attempts to optimize clone quality, yield, batch consistencies, and shelf life.  The list goes on.  All of this is R&D. 

 

Contact us for more information on R&D Tax savings!


Tax Credits for the Wine Industry - No Longer a Secret
11 November, 2015

Anyone working in the wine industry understands the challenges involved in creating a quality wine. Growers, winemakers, and wine technology experts alike must constantly innovate, attempting to optimize and discover solutions to the endless challenges presented by Mother Nature.  

13 cents of every dollar spent on research may be recaptured through tax credits!

Unknown to many, there are federal and state tax credits available to reward and encourage research related to viticulture, enology, product/process developments, product/process improvements, and packaging technology innovations.  In fact, Research and Development (R&D) Tax Credits have been available for decades, allowing taxpayers to recoup 13 cents back on each dollar spent on qualifying research activities...
FOR MORE INFORMATION, Contact Us!


Tax Credits for the Wine Industry – No Longer a Secret
16 September, 2015

Anyone working in the wine industry understands the challenges involved in creating a quality wine.  Growers, winemakers, and wine technology experts alike must constantly innovate, attempting to optimize and discover solutions to the endless challenges presented by Mother Nature. 

13 cents of every dollar spent on research may be recaptured through tax credits

 

Unknown to many, there are federal and state tax credits available to reward and encourage research related to viticulture, enology, product/process developments, product/process improvements, and packaging technology innovations. In fact, Research and Development (R&D) Tax Credits have been available for decades, allowing taxpayers to recoup 13 cents back on each dollar spent on qualifying research activities.

 

 

Winemaking is quintessential R&D. The tax authorities agree.

Activities that qualify for R&D tax credits range from experimentation with alternative cultivation, fermentation and blending techniques to improvements in bottling and packaging methods or attempts to optimize clone quality, yield, batch consistencies, and shelf life.  The list goes on.  All of this is R&D.

 

 

Claiming R&D Tax Credits – the Process

Romo Incentives Group (RIG) is one of few consulting firms that specialize in identifying tax credits for the winemaking industry. RIG’s President Albert Romo himself owns a vineyard and is closely in tune with the complexities of the craft.

 

 

RIG’s R&D consultants work with vineyards and wineries of all sizes and in all stages of operations – from those undergoing initial planting and developing early vintages to those that have been around for over a century.    RIG services the world’s largest wineries, in addition to smaller wineries and family owned operations.  At no cost, RIG’s expert team performs a scoping exercise to identify qualifying activities and associated costs.  If the tax benefits exist, RIG proceeds with a R&D Tax Credit Study, conducting a thorough analysis, computing the credits, and handling all documentation.  Should an audit occur, RIG handles this process, as well.

 

Due to a perception that R&D credits are limited to certain industries (heavy manufacturing, laboratories, software), the wine industry has neglected to claim millions of dollars in tax credits to offset both federal and state tax liabilities. RIG is working to change this. 

 

For more information, please contact Caroline Wolf, RIG’s Director of Research & Development Tax Services, at (310) 746-8130 or cwolf@romoincentivesgroup.com.

 

 


Paying MORE Taxes than you need to?
09 September, 2015

The R&D Tax Credit was introduced in 1981 and is available at both the federal level and in 38 states (including California). In 2004, Treasury finalized Regulations for claiming the credit that eliminated the “Discovery Test” and relaxed the documentation requirements. The Alternative Simplified Credit (ASC) was introduced shortly thereafter. These changes have been very taxpayer-friendly and allowed many companies the opportunity to claim the credit for the first time. Congress extended the federal credit with the Economic Stabilization Act of 2008 through the end of 2009 and is expected to be retroactively renewed later this year as it has on 13 prior occasions. The California credit continues to be available, as well, and is a permanent credit. The credit rewards companies that devote time and resources to product development or process improvements and is calculated on qualified wages, supplies and contract research. Although the perception is that the R&D Tax Credit is intended for Silicon Valley, it is claimed by companies in variety of industries including (but not limited to):

  • All manufacturing
  • Tool & die
  • Winemaking
  • Chemical companies
  • Software development
  • Agribusiness
  • Waste management
  • Food processing
  • Architectural and engineering firms

Benefit

The credit is generally equal to 13% of qualified costs and is a dollar for dollar match on both federal and state taxes owed. Taxpayers can carry forward the credit for up to 20 years and may amend any open prior tax years to claim refunds. In 2006, more than 15,000 companies claimed the credit with a benefit of over $8 billion.

Process

We take project lists and tie expenses to them with evidence such as contemporaneous documents and testimony. We work with the client to determine project-based costs even though they do not have a job costing system. This meets the most compelling argument by the Internal Revenue Service (IRS) and Franchise Tax Board (FTB) head on and sets us apart from our competitors. We pride ourselves on completing our studies in a timely and efficient manner that is non-intrusive yet thorough in our methodology. In addition, audit support is built into every contingency fee contract. Our tax controversy and audit defense team ensures that our work will stand up to examination. It is, in effect, a warranty on our services. Your company may be entitled to significant cash refunds for current operational activities. Call or email us for a free consultation.

Large family owned San Joaquin Valley winery with annual revenues of nearly $50 million. RIG performed a Federal and California R&D Tax Credit study, and a California Enterprise Zone Tax Credit study for the 2009 through 2013 tax years. The results of our study are as follows:

2009 – 2013 Federal R&D Tax Credits   $430,000
2009 – 2013 California R&D Tax Credits $350,000
2009 – 2013 California Enterprise Zone Tax Credits $740,000
Total Tax Savings $1,520,000

Title Name Email Phone
President Albert Romo aromo@romoincentivesgroup.com 916-941-8383