Consumer alert: Employee retention credit
It has come to our attention a number of businesses are being approached by firms with proposals to conduct the research needed to file employee retention credit.
We would like to alert you that these companies often expect a significant percentage of your return and require payment upfront, before the returns are issued. Worse yet, we’ve seen examples of these companies making inaccurate estimates, which could leave your business at a large loss.
CFO Strategic Partners was recently consulted by a client about a pitch they had received from one of these firms. In this particular case, a representative of the firm claimed our client was eligible to receive $700,000 in ERC refunds. The firm’s fee was 30 percent of our client’s refund and it wanted to collect 15 percent immediately. After our team of professional CFOs investigated the situation, it was revealed the client would NOT be eligible to receive anything close to $700,000. Had the client signed that agreement, they would have been out a great deal of dollars.
We’re here to tell you, you don’t need to sign risky contracts in order to receive your full credit – there’s a better, more cost-effective solution.
At CFO Strategic Partners, we have dedicated, in-house ERC specialists and have created a system to handle the process efficiently. Our team of experts will handle all the research needed from background information on the business structure to pertinent dates such as when mandatory business shutdowns occurred. We do all of the due diligence and take the extra step to fact check, ensuring the process runs smoothly. We’ll even help project manage the filing of the ERC, whether it’s done through your payroll company or another vendor.
We believe if your business qualifies for credit, you truly need it and deserve to be able to reap the full benefits of it – not throw away a large percentage of it to a predatory firm. Rather than charge high-percentage fees, CFO Strategic Partners will handle ERC work at a reasonable hourly rate, which minimizes the risk for your business.
Do you have questions or need assistance filing your ERC? Send an email to firstname.lastname@example.org.