REFUNDING MONEY BACK INTO YOUR POCKET-ZERO APPLICATION FEE
PAYROLL TAX SAVINGS PLAN
EMPLOYER SPONSORED EMPLOYEE FUNDED
The Health Plan is a Self Funded, Self Insured Limited Schedule of Benefits for companies of 10 or More (No limit)
Acts as a Payroll Tax Savings Program
(A company of 100 Employees saves $57,360 per yr & The Employees see a raise in their paychecks due to reduced taxes)
It is Designed to Complement a Company's Current Major Medical Program if they have one and help reduce costs and claims (Not replace it)
78% of executives state that employee retention is one of their biggest challenges.
We can help solve that problem.
- Employers on average will save over $45 monthly per employee in payroll tax savings with no out-of-pocket cost
- Employees on the program will see an increase in take-home pay with participation and no out-of-pocket cost
- Provides employees with extra health and wellness benefits
- Does not replace, compete, or interfere with your primary health insurance
- Provides employees with the most innovative & interactive well-being management program
Increase employee satisfaction – Decrease employee turnover!
What Qualifies for R & D Tax Credits
WHAT QUALIFIES AS R&D?
We have found many of our clients regard their own daily efforts to make new and improved
products or processes as
•just doing my job," when in fact they have been performing R&D qualifying activities all
along. If your company
develops, designs. and enhances products or processes, your business likely qualifies for
the R&D Tax Credit.
ISN'T THE R&D CREDIT ONLY FOR BIG TECHNOLOGY AND SCIENCE CORPORATIONS?
Once upon a time. Yes. As of 2015, changes regarding permanency, AMT offsets, pay roll offsets, and
a lower burden on record keeping for prior year claims opened the door to companies of all sizes
and industries.
WHAT ARE THE BENEFITS OF A TAX CREDIT VS A DEDUCTION? CAN I USE BOTH?
The R&D Tax Credit is an actual dollar-for-dollar credit against taxes owed or taxes paid that go
directly to the bottom-line vs a deduction that lowers the dollar amount being taxed. Both
are very valuable and good news, this credit allows you to use both!
CAN I ONLY CLAIM R&D TAX CREDITS IN THE CURRENT YEAR?
No. You can claim R&D Credits from up to 3 years prior to the current tax year and carry them
forward for· 20 years.
WHAT IS THE SUCCESS RATE?
Our success rate is near 98%, meaning if we provide an estimate of credits then its almost
guaranteed that is the value that you will receive.
HOW HAS THE R&D TAX CREDIT RECENTLY EXPANDED?
Since it was first put in place in 1987, the R&D Tax Credit has gone through a gradual evolution
over time, with the most meaningful changes having occurred within the last few years. In 2015,
the Protecting Americans from Tax Hikes Act not only made the R&D Tax Credit permanent, it
modified the credit for the benefit of small and mid-size businesses by easing record keeping
burden. allowing for the AMT offset and introduction of the startup provision.
CAN THE R&D TAX CREDIT BE USED TO OFFSET THE ALTERNATIVE MINIMUM TAX?
As a result of the PATH Act, "eligible small businesses "may claim the federal R&D Tax Credit
against their Alternative Minimum Tax (AMT) liability beginning in 2016. Additionally, as a
result of the Tax Cuts and Jobs Act of 2017 removing corporate AMT and loosening individual AMT
restrictions, the credit has become further accessible to U.S. businesses.
HOW DOES THE R&D TAX CREDIT'S "STARTUP PROVISION" WORK?
Startups and small businesses may qualify for up to $1.2S million (or $250,000 each year for up
to five years) of the federal R&D Tax Credit to offset the Federal Insurance Contributions
Act (FICA) portion of their annual payroll taxes.
HOW DO I CLAIM THE R&D TAX CREDIT?
You start by talking to experts like us. A number of factors go into claiming the credit but the potential savings on the table make exploring the credit a worthy investment.
Since the credit may be claimed for both current and prior tax years, companies can benefit
from documenting their R&D activities to ensure they are positioned to claim the credit in both
situations. These records combined with credible employee testimony can form the basis of an R&D
Tax Credit claim. Tributan can quickly identify and gather this information to
substantiate your claim , ensuring you are receiving the full value you are entitled under IRS guidelines.
NEW PROCESS, NEW TECHNOLOGY, NEW PRODUCTION
What is the R&D Tax Credit?
The Research and Development (R&D) Tax Credit remains one of the best opportunities for businesses to substantially reduce their tax liability. For what amounts to their daily activities, companies from a wide range of industries can qualify for federal and state tax savings high enough to allow companies to hire new employees, invest in new products and grow operations. Now, due to recent modifications and expansions over the years, more companies than ever before can benefit from this valuable incentive.
Tax Credit Highlights
✓ Increased Cash Flow: Unlock additional capital that can be reinvested into your business.
✓ Dollar-for-Dollar Tax Reduction: Benefit from federal and, in some instances, state tax reductions that directly lower your income tax.
✓ Retroactive Claims: You can claim credits for open tax years going back 3-4 years, providing an immediate financial boost.
✓ Reduced Tax Rate: Lower your overall tax rate, enabling greater profitability in the long run.
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Testimonials
“The bank told them it would take a month to get the $250K they needed but we were able to get it for them in one business day.” Bank Breezy provided an innovative cardboard box manufacturer with the funds required to take advantage of an inventory discount. By increasing their order by $250K they saved 60%.
“The bank told them they were not eligible for the $35K they needed to expand and remodel. We got them funded within one business day and then again with additional funding later.” Bank Breezy provided an ice cream shop with the funds needed for new equipment and to expand to a second location.
TESTIMONY #2
“A bank told the business owner they could not approve their funding request and referred the owner to Bank Breezy. We had them approved for funding three hours later” Bank Breezy funded a transmission repair shop. The shop needed $14,000 to repair an auto lift, their bank would not approve them. They were referred to us by the bank and they got the funds needed.
The Families First Coronavirus Response Act-FFRCA
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.
specializes inspecializes 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?
- 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.
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ABOUT US
FINDING HIDDEN CREDITS, INCENTIVES, AND STRATEGIES TO REDUCE YOUR TAXES.
At Top Quality Solutionz, we're on a mission to transform the financial landscape for businesses across the nation. Our journey began with a simple yet powerful idea: to help businesses uncover hidden opportunities for tax savings and financial growth. We understand that in the world of finance, countless possibilities can go unnoticed, and that's where we come in.
Our Vision
Our vision is to empower businesses of all sizes to thrive by optimizing their financial strategies. We believe that every business, regardless of its industry or scale, should have access to expert guidance and innovative solutions that can propel them toward success.
Our Mission
Top Quality Solutionz, is committed to making the complex world of tax-advantaged programs and financial strategies accessible and profitable for our clients. We take a personalized approach to every business we work with, recognizing that each organization is unique and requires tailored solutions.
Collaborative Approach
We believe in collaboration, not replacement. Top Quality Solutionz works closely with your existing business advisors to ensure that your financial objectives align seamlessly with our strategies. Your success is our top priority, and we are dedicated to working in harmony with your team.
No Upfront Costs
One of the most unique aspects of Top Quality Solutionz is our fee structure. We charge no upfront costs to your business. Instead, our fees are solely based on the savings we generate for you. This innovative approach means you can benefit from our expertise without any financial risk.
Ready to Get Started?
Are you ready to explore new avenues of tax savings and financial optimization? We invite you to connect with Top Quality Solutionz, and we'll guide you through the process of uncovering opportunities that could transform your financial future.
