TAX PREP ADVOCATES
IRS TAX AUDIT EXPERTS
THE REFUND IS YOUR TAX AUDIT
BUSINESS SOLUTIONS, R & D TAX Credits & FFCRA Self Employment
TAX PREP ADVOCATES
IRS TAX AUDIT EXPERTS
THE REFUND IS YOUR TAX AUDIT
REFUNDING MONEY BACK INTO YOUR POCKET-ZERO APPLICATION FEE
Self-Employed Tax Credit (SETC) aka FFRCA
Self-Employed Tax Credit (SETC)
Coronavirus Paid Leave Tax Credits for Self-Employed Workers. Were you affected 10 days or more during 2020, 2021, either sick or told to stay home. You may be eligible for up to $32,220 in tax credits by amending your tax returns.
While the SETC is not new, countless Americans remain uninformed of its existence, potentially missing their rightful claims. Time is of the essence, with only a limited period left to seize this opportunity. Research shows over 80% of self-employed individuals don’t know they are eligible. This is a tax refund.
How does the self-employed tax credit work?
The self-employed tax credits provide tax savings for individuals who could not work due to COVID-19. These credits offset any tax liability created from self-employment income in the taxable year. Since these credits are refundable, taxpayers could potentially receive a tax refund if their tax bill has been covered.
The SETC is a specialized tax credit designed to support self-employed individuals during the COVID-19 pandemic. It acknowledges the unique challenges faced by those who work for themselves, especially during times of illness, caregiving responsibilities, quarantine, and related circumstances. This credit can be a valuable resource for eligible individuals to help bridge financial gaps caused by unforeseen disruptions.
Whether you're a self-employed business owner, a 1099 subcontractor, or a family-centric small business, the Self-Employed Tax Credit holds the potential to bridge the gap left by more traditional forms of support.
Almost everybody with Schedule C income, qualifies to some extent.
In response to the coronavirus (COVID-19) crisis, an eligible self-employed individual was allowed to claim an income tax credit for any tax year for:
- a qualified sick leave equivalent amount under Section 7002 of the Families First Coronavirus Response Act (P.L. 116-127); and/or
- 100 percent of a qualified family leave equivalent amount under Section 7004 of P.L. 116-127.a according to: (Legacy Tax)
- TPA charges a fee of $197.50 per qualifying year for 2020 & 2021, to amend (start over) those returns, a total of $395.00 to certify and guarantee the accuracy PLUS, a 20% contingency fee to process the claim (once IRS pays) or, you can choose to be invoiced $495.00 to amend your taxes along with the 20% contingency fee once IRS submits payment. If, you do not qualify, you will owe nothing.
TPA specializes in filing the SETC and the ERC and built a system to maximize the accurate amount that you qualify for. Why would you risk filing with any other firm?
Why Tax Prep Advocates for R & D Tax Credits
UPDATING IN PROGRESS
updating in progress
STREAM TO THE CLOUD AND PROTECT YOUR CLIENTS, PATIENTS & CUSTOMERS
Problem(s) Exploited CPA Being Targeted
· According to Accounting Today, since the start of the covid-19 pandemic, accounting firms have seen a 300% increase in the cyber attacks as an industry that is already vulnerable to cybercrime also deal with the challenges of remote working.
· According to PwC, finance and accounting firms are already at a30% higher risk of becoming victims of a cyber-attack.
SMALL BUSINESS FUNDING
The Families First Coronavirus Response Act-FFRCA
- On March 13th, 2020, Trump shut down the country for 2 weeks to flatten the curve.
- On March 27th, 2020, the $2.2 Trillion dollar CARES ACT was passed into law to subsidize the economy during the shutdown.
- At the time you had to make a 1-time choice either take a PPP Loan or the ERC tax credit - not both.
- On December 27th, 2020, Congress amended the CARES ACT with the Consolidated Appropriations Act, effective Jan 1st, 2021, that allowed both: BUSINESS WHO TOOK A PPP LOAN REGARDLESS OF IF THE LOAN WAS FORGIVEN OR PAID IN FULL, SHUTDOWN OR OPEN - EVEN IF YOU MADE A PROFIT, YOU QUALIFY FOR THE ERC PROGRAM.
- Congress funded the ERC Program with $1.2 Trillion allocated for small business as "FREE MONEY" to use as the owner discretion and will NOT have to pay it back, this is not a loan.
- The shutdown affected everything from supply chains, business policy, procedure, inventory, hours of operation, safety protocols, selling goods or services, all business will qualify under the new scope and guidelines.
- IRS defines Small Business as 3-500 employees.
- Visit the FAQ
Self- Employed Tax Credit (FFRCA)
The Families First Coronavirus Response Act (FFCRA) came to the rescue for many self-employed taxpayers during the pandemic. The act, signed into law on March 18, 2020, initially provided tax credits to eligible taxpayers who could not work from April through December 31, 2020, due to COVID-19. The credit was extended to March 31, 2021.
On March 11, 2021, the American Rescue Plan Act extended the tax credits for self-employed workers through September 30, 2021. This means that taxpayers affected April 1 - September 30, 2021, can claim the credits on their 2021 tax return.
What tax credits are available to self-employed workers affected by COVID-19?
There are two tax credits available to self-employed workers affected by COVID-19: Sick leave and family leave. The sick leave credit applies to qualified individuals who were not able to work for a period of time due to COVID-19 or were caring for someone with COVID-19. You may qualify for the family leave credit if you had to care for another family member due to COVID-19-related circumstances and already maxed out the sick leave days.
NOW HIRING FIELD AGENTS
update in progress
Did you qualify for a return?
We are looking for a few good people that want to give away free money and get paid very well to do it. Sign up to be a Field Agent and you can make anywhere from $500-1500 per application (per applicant income) to enroll clients onto our platform and process the tax returns. We provide the portal so you have dedicated links that you can email out or assign a QR code to create your own flyers. No license required. If you can talk to people, you can make some money and build a large agency quickly.
If you can recruit others under you the overrides are impressive, this is a once in a lifetime opportunity.
