Julio Gonzalez, CEO of Engineered Tax Services, has announced the launch of a new company, Rockerbox, which will enable CPA firms to help small-business owners secure federal employer-based tax credits, such as the Employee Retention and Work Opportunity Tax Credits.
Employee Retention Tax Credits were created to reward employers for retaining their staff during the COVID-19 pandemic. Employers who received Paycheck Protection Program loans can claim Employee Retention Tax Credits for qualified wages not considered payroll costs in order to obtain forgiveness of their PPP loans. Notably, employers have until June 30, 2021, to file for these tax credits.
The Work Opportunity Tax Credit, created in 1996, is a federal tax credit available to employers for hiring individuals from underrepresented groups. The WOTC is aimed at employers who hire hourly-wage candidates and experience at least 20 percent annual turnover.
“I founded Rockerbox so that CPAs could help America’s struggling small businesses reap the benefits of employer-based tax credits,” said Gonzalez in a statement. “It’s especially important for small business owners to understand they only have a few months left to claim Employee Retention Tax Credits. Our relationship with Rockerbox will allow us to better assist our clients with the ERTC, and we expect Rockerbox to benefit a great deal from CPA firms referring ERTC business. With small businesses under siege during the pandemic, they need all the tax relief they can get, and I’m happy to be a part of it.”
Engineered Tax Services and Rockerbox are jointly sponsoring a webinar on March 18 to educate CPA firms about the benefits of the Employee Retention Tax Credit and Work Opportunity Tax Credit. More information is available on Engineered Tax Services'
