Samantha is the owner of a software development company. She contacted us in 2020, towards the end of the first round of PPP funding. She wanted to apply for a forgivable loan but was not sure how to structure the application. According to her own calculations, she was eligible for a loan of approximately $25,000.
We analyzed her payroll, rent and utility expenses, and found out that she actually qualified for a loan of over $60,000 in accordance with legal framework in place at the time.
We helped her find a bank still accepting applications and provided information about ever-changing loan forgiveness regulations throughout the year – including information regarding keeping her staff employed.
She has since hired us to help her with accounting, income tax preparation, and tax planning, where we’ve helped her obtain a Research and Development tax credit of almost $40,000!
We’re looking forward to using our expertise to further boost her tax savings.