Why do CPA firms recommend BGP to their clients?

CPA firms are considered to have the highest reputation for training in tax, accounting and ethics. 

When the pandemic emergency happened, Congress rolled out $5 trillion in emergency stimulus to save the economy, state and local governments and workers.  Included in these figures was stimulus that Congress desired to flow to small business owners.  Unlike huge employers or schools with connections to the Federal government, how do they reach small businesses? The ERC is one such program for small businesses and the spirit of the law is to provide for a return of payroll taxes paid by the business owner. So, the way to do it was decided-- pay cash refunds to you through the payroll tax mechanism.  Sounds easy, but it is not. 

Here are the top reasons CPA firms refer their clients to work with a management consulting company such as Boston Growth Partners:

1.    Payroll taxes are not income taxes and the process for refunds is very different than a typical tax return.  This is a specialized, complex and ambiguous assignment related to a public health emergency—not tax work.

2.    CPAs do not have access to the payroll data (HR does) and the raw data must be re-analyzed for specific calculations, such as adjusting for PPP, FCRA, WOTC funds received; as well as health benefits paid.

3.    There are both quantitative and qualitative eligibility criteria.  The qualitative criteria depend on an understanding of partial shutdowns and business analysis.  This is time-consuming, requires an understanding of supply-chain, product lines, etc.  We possess this expertise and knowledge.

4.    Boston Growth Partners specializes in small and middle-market established businesses and has the experience to get the job done right.

5.    Eligibility requires proving being impacted by government orders.  They know that we have a database of them and can connect a client’s impacts to mandate orders.

6.    CPA firms are trusted with sensitive data. They have peace of mind knowing that we use the same SOC II compliant data vault that they use to store your data.

7.    CPAs trust other CPAs.  Our CPAs sign every refund claim with the IRS, unlike clients doing it themselves, using a payroll service (agent-in-fac only) or using an unknown internet company.

8.    CPA firms do everything related to income taxes and the ERC is a one-time specialized service.  Unlike those firms we do not do income tax services. However, they know that our specialty is the best in the USA.

9.    CPA firms do not have the time to continually check on the status of claims through a different section of the IRS then they are accustomed to working.  Due to backlog, they know we can help keep their clients informed.

10. CPA firms tell their business owners to work with us because we are professional, provide good service and get things done right the first time.  They now that business owners do not suffer fools and are in good hands with us.