Using Shared Services, Piggybacking Could Help Secure 2015 Tax Freeze Credit

Apr 6, 2018

As the year comes to an end, businesses are seeking strategies to maximize their financial opportunities and minimize tax liabilities in 2015. One effective method that has gained attention recently is utilizing shared services and piggybacking, which can significantly help secure a tax freeze credit.

What are Shared Services?

Shared services refer to the concept of pooling resources, expertise, and infrastructure among multiple companies or departments within an organization. By sharing common business functions such as IT, human resources, finance, and marketing, companies can streamline operations, reduce costs, and improve efficiency.

Businesses can form partnerships and collaborations to leverage shared services, allowing them to access specialized skills and technologies without shouldering the entire cost of maintaining them internally. This collaborative approach empowers organizations to focus on their core competencies while benefiting from the expertise of others.

Piggybacking: A Strategic Advantage

Piggybacking, on the other hand, involves leveraging the successes and established relationships of other businesses to gain access to new markets, customers, or resources. By identifying suitable partners who align with your target audience and customer base, you can tap into their existing network and expand your reach.

When it comes to securing a tax freeze credit, combining the power of shared services and piggybacking provides a unique strategic advantage. By collaborating with other businesses, you can collectively meet the qualifying criteria for the tax freeze credit, which allows you to keep your property taxes at a current level for a certain period.

The Benefits of Implementing Shared Services and Piggybacking

1. Cost Savings and Efficiency

Implementing shared services not only helps in reducing operational costs but also improves efficiency. By consolidating resources, redundancies are minimized, and economies of scale can be achieved. Additionally, piggybacking allows you to leverage existing relationships, eliminating the need to invest heavily in building new networks from scratch, thereby saving time and money.

2. Access to Specialized Resources

Shared services bring together a diverse set of skills, expertise, and technologies. By participating in a shared services model, your business gains access to specialized resources that may have been unaffordable or unavailable otherwise. This access can enhance your own capabilities, enabling you to compete more effectively in the market.

3. Mitigating Risks

By partnering with established businesses through piggybacking, you can reduce the risks associated with entering new markets or expanding your customer base. The shared knowledge and experience of your partners can provide valuable insights, allowing you to make informed decisions and minimize potential pitfalls.

4. Improved Competitiveness

Shared services and piggybacking strategies enhance your competitive edge by allowing you to focus on your core competencies while tapping into the strengths of others. This synergy boosts overall productivity and effectiveness, enabling your business to stay ahead of the competition.

In Conclusion

As the new year approaches, it is crucial for businesses to explore innovative strategies that can help secure financial advantages while complying with tax regulations. Incorporating shared services and piggybacking into your business model provides numerous benefits, including cost savings, access to specialized resources, risk mitigation, and heightened competitiveness.

By leveraging shared services, businesses can streamline operations, optimize efficiency, and reduce costs. Additionally, piggybacking allows for the leveraging of established relationships, providing opportunities for growth and expansion. Together, these strategies can position your business for success and help you secure a 2015 tax freeze credit.

Brady Haire
Great insights! 🙌 Utilizing shared services can indeed maximize tax benefits.
Oct 4, 2023