Tax Credits

Bottom Line Concepts ERC Review (2024)

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Bottom Line Concepts ERC (employee retention credit) aims to aid employers in getting the most out of the program, streamlining the entire process, which can get pretty complex at times.

Essentially, it’s an ERC tax rebate application service, allowing business owners to claim up to $26,000 per employee or an average of $10,000 for those that received a PPP (Paycheck Protection Program) loan.

It’s targeted at small and medium-sized businesses (SMBs) to capitalize on their potential rebates, starting from the verification of your eligibility to the claiming process with all the necessary documentation.

Bottom Line Concepts Company Overview

Bottom Line Concepts ERC Review

Founded in 2009, Bottom Line Concepts is a prominent financial consulting company headquartered in the Greater New York Area. The company specializes in providing innovative cost-saving solutions and works on a no-risk, contingency-based model.

Bottom Line Concepts’ mission is to optimize the financial performance of its clients, ensuring increased profitability and overall organizational valuation. Moreover, by conducting comprehensive audits of past invoices, it successfully identifies errors, securing refunds and credits to the benefit of its clients.

What is the ERC?

The 116th U.S. Congress approved the Coronavirus Aid, Relief, and Economic Security (CARES) Act in 2020, a $2.2 trillion assistance package designed to address the economic consequences of COVID-19. The ERC, or Employee Retention Credit, was created as a result of this legislation. This tax credit is available to SMBs that chose to keep their employees on the payroll during the pandemic and suffered significant losses in gross receipts in 2020 and 2021 due to limited operations or shutdowns.

For more information, you can refer to our ERC FAQ.

Bottom Line Concepts ERC Review: How It Works

To start the process of your ERC tax refund, you have to schedule a call with Bottom Line Concepts first. The company will then evaluate whether your business is eligible or not during the phone call, which usually only takes up to 15 minutes.

If everything is in order, Bottom Line Concepts will examine your claim and provide a computation of how much you stand to get. Next, you’ll receive an agreement with the terms and conditions that basically state you allow the company to claim the tax credit on your behalf. All you have to do then is sign the form and send it back.

Afterward, you’ll be sent a questionnaire to determine which documents you have to prepare. Once that’s done, Bottom Line Concepts will review everything and submit the requirements to the IRS (Internal Revenue Service). The company will guide you every step of the way, from the claiming process to documentation.

Bottom Line Concepts ERC Review: Pricing

Bottom Line Concepts uses a contingency-based approach, meaning you won’t have to worry about any up-front fees. In other words, the company will charge you only when you receive your check from the IRS.

As for how much services of Bottom Line Concepts cost, it depends on the size and nature of your business and how much work was required to complete the claim. Usually, the company charges an average of 20 percent, but in some cases, it goes as low as 15 percent and as high as 30 percent.

Bottom Line Concepts ERC Review: Pros & Cons

Pros

Risk-free: You won’t have to pay Bottom Line Concepts any fees if you don’t receive any savings or refunds.

No up-front fees: Bottom Line Concepts will charge you only once the tax credit refund has been received and in your business’s balance sheet.

No commitment: You have the option to go through with the recommendations of Bottom Line Concepts or not without any obligation.

Simplified process: Bottom Line Concepts will do the heavy-lifting for you and guide you through the steps. This is perfect for those who find the claiming process complicated, which has business owners go through hoops to complete, including accounting for ERC, filling out Form 941-X for retroactive claims and taking note of the ERC deadline

Cons

Amount of necessary documents: One usual complaint that Bottom Line Concepts clients have is that the company asks for too many documents. That said, it’s understandable considering that it operates on a contingency-based model. After all, it only invoices customers for every successful ERC tax refund, so it ensures that a business is eligible beforehand.

Bottom Line Concepts ERC Alternatives

More often than not, choice is good for consumers. On that note, there are other alternatives to Bottom Line Concepts that can assist you in claiming your ERC tax refund, including Omega Accounting Solutions and Lendio. 

Omega Accounting Solutions is a seasoned accounting and data firm that specializes in serving SMBs. The company offers a comprehensive suite of expert financial services and accounting solutions, including ERC filings. Also, it is a leading expert in ERC filings and has established itself as a reliable partner for SMBs looking to maximize the benefits of this government tax incentive. Moreover, it offers responsive customer support for inquiries related to service costs and payment options.

Meanwhile, Lendio makes it easy for businesses to determine their ERC eligibility with transparent and customer-friendly fee structures. There are no up-front costs or hidden fees, and businesses only pay for services if their application is successfully processed by the IRS. This creates a partnership rooted in shared success, similar to how Bottom Line Concepts works.

For the complete list of our recommendations, read our post about the best ERC specialist companies and services.

Verdict

To sum things up, Bottom Line Concepts is reliable for claiming the ERC tax refund you and your business deserves. It makes the whole process simple, involving only a phone call and a few forms to fill out. While it may require numerous documents, it guarantees that the application will go smoothly. Speaking of, the company’s services are obligation-free, and there are no up-front fees to worry about.