Series A Funding Builds on Momentum for Approach that Integrates Tax Credits and Tax Planning for Small Businesses
COLUMBUS, Ohio, July 17, 2024 /PRNewswire-PRWeb/ -- Today, Arvo Tech, creator of the tax strategy solution for small businesses, is announcing it has closed $2.5MM in Series A funding led by Bandon Partners with support from existing investors. With this financing, Arvo will expand its strategic partner program, continue to develop its tax credit platform and assist small businesses with the implementation of an overall tax strategy.
Critical parts of the tax policy implemented in 2017 are set to expire by the end of next year. Features like tax rates, exemption limits, and the federal deduction for state and local taxes are expected to change as a result of the upcoming presidential election. Meanwhile, incentive programs, including the Work Opportunity Tax Credit (WOTC) program, expire in 2025. Last year alone, WOTC was worth $5B to employers, demonstrating the importance of these tax credits in supporting SMBs financially.
"We are committed to setting small businesses up for success," said Terracina Maxwell, co-founder and president of Arvo Tech. "By housing tax credits and tax strategy under one roof, we are providing companies with the tools necessary to make better financial decisions and capitalize on incentive programs available to them. Many SMBs are unaware of the initiatives, so we can make a big impact by bringing these disparate programs and strategies together for them."
Arvo's easy-to-use solution integrates seamlessly and is data-backed to help companies maximize opportunities. The company's robust partner program includes integrations with leaders like Gusto, Bullhorn, and TempWorks, making it easier than ever for SMBs to confirm employee eligibility for credits like the WOTC.
Arvo's tax credit support includes:
- Assessing Qualification: Arvo evaluates which employment credits are available to each business.
- Ongoing Monitoring: Arvo's technology provides continual monitoring to ensure maximum tax credits.
- Completing IRS Forms: Arvo provides the completed IRS forms to claim your credits at the end of your tax year.
- Ongoing IRS Audit Support: Arvo provides all necessary documentation with support from a team of tax attorneys.
Backed by its recent acquisitions of full-service accounting firms, Arvo empowers clients to develop comprehensive and personalized tax plans by assisting them with vital components such as:
- Planning: Arvo develops a comprehensive tax plan that addresses topics including timely financial reporting, organizational structure, tax incentives, retirement plans, accounting methods and transition planning.
- Preparation: Arvo identifies and organizes all necessary bookkeeping documents, financial reports, applications, etc.
- Monitoring: Arvo tracks progress toward meeting tax strategy goals throughout the year.
- Filing: Arvo ensures compliance with IRS regulations with the confidence that results from a smart tax strategy.
"Arvo Tech has emerged as a leader in this space. Backed by a team with deep expertise and combined with its unparalleled technology, Arvo is set to disrupt how businesses plan and access critical incentive dollars," said David Grove, managing partner at Bandon Partners. "Arvo's mission and approach align with ours, and we know they are poised for continued momentum."
"David and Bandon Partners have a proven track record of serving SaaS leaders throughout their lifecycle, so this support is an important validation for Arvo's trajectory and will help us continue to serve more small and midsize businesses," added Brent Johnson, co-founder of Arvo Tech.
Arvo has helped businesses in various industries, from healthcare to staffing, logistics, hospitality, and more, claim over $650MM+ in tax credits. For more information, visit https://arvotech.com.
About Arvo Tech
Arvo Tech is the creator of the tax strategy solution that helps small businesses make confident financial decisions. Founded by tax experts and backed by proprietary technology, Arvo is the only holistic approach that brings together the ability to develop and document a tax strategy with tax credit management. By delivering actionable insights and simplifying tax processes, Arvo Tech saves companies time and money - while helping them maximize their financial future. To learn more, visit https://arvotech.com/.
Media Contact
Kerriann Becker, Superior Public Relations, 631-235-7796, [email protected], http://www.superior-pr.com
SOURCE Arvo Tech
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