BOTHELL, Wash., April 19, 2021 / PRNewswire-PRWeb / – AG FinTax, a full-service tax and commercial accounting firm that provides nationwide expertise and advice to entrepreneurs and small businesses, today announced it can offer services Remote application preparation to restaurants and food service companies nationwide interested in applying for the Restaurant Revitalization Fund (RRF).
The RRF, administered by the Small Business Administration (SBA), will allow eligible restaurants to receive a tax-exempt federal grant to address lost revenue from the coronavirus pandemic.
âWe have a team of professionals who have closely studied the grant program, including eligible entities and the evidence needed to apply,â said Anil Grandhi, Founder and CEO of AG FinTax. âRestaurant owners typically work very long hours and wear so many hats, such as the manager, accountant, and occasional waiter, that they likely won’t have the time or resources to put together the documents needed to submit their application. timely. Since the funds are administered on a first come, first served basis, there is concern that funds may not be available to all eligible businesses. “
The RRF is a $ 28.6 billion subsidy program designed to help restaurants struggling with the mandatory COVID-19 2020 pandemic closures and reduced capacity restrictions, but funds are disbursed on a first come, first served basis, making it urgent of the filing of the request a priority for the restaurants concerned.
AG FinTax previously helped over 200 small business owners apply for the Paycheque Protection Program Loan forgiveness in 2020 and helped them get close to $ 150 million.
âWe can do this remotely, using secure, encrypted portals to exchange data,â said Grandhi. “The onboarding process is quick and we will be able to file applications faster than if a restaurateur had to spend the time doing it alone.”
The National Restaurant Association has listed the potential documents needed to apply for the RRF:
Business income tax returns (IRS 1120 or IRS 1120-S form)
IRS Form 1040 Schedule C; IRS Form 1040 Schedule F
Financial statements prepared externally or internally, such as income statements or income statements
Point of Sale Report (s) including IRS Form 1099-K
Evidence of loss of income related to the pandemic
Information on loans from PPP beneficiaries
With a professional team of CPAs, Chartered Accountants and CMAs, AG FinTax offers CFO expertise and detailed tax preparation typically provided to Fortune 100 companies to small business owners, helping them stay in compliance, pay the least amount of tax required by law, and make the best financial decisions. Even during a pandemic, they differentiated themselves in the market by allowing customers to take back control of the economy and keep operating through SBA loans.
Interested restaurants should contact AG FinTax at: [email protected] or (425) 395-4318
About AG FinTax:
AG Fintax applies the advanced tax reduction and wealth creation strategies used by some of the most successful businesses in the world to help our small businesses and young clients reduce their tax liability and save money.
With a professional team of CPAs, Chartered Accountants and CMAs, we work with clients in the IT startup, real estate, construction, healthcare and restaurant industries to help them build businesses. dynamics and revenue forecasting, and to implement best practices in accounting policies and so that management can make informed and timely decisions
Please visit http://www.AG Fintax.com or find us on Facebook @agfintax for more information.
Leigh martinez, Zen Media, +1 8172628168, [email protected]
SOURCE AG FinTax