MainStreet helps US tech startups find, qualify, and apply for tax credits and incentives. It helps companies compile documents and also provides audit support.
Small businesses need help negotiating state and federal credits more than ever. These credits are essential to help extend the runway of businesses by helping them hire more employees and fund other business goals. 20% of small business owners are unaware of the full scope of tax incentives available to them and are leaving a lot of money on the table. There are many types of tax credits totaling hundreds of billions of dollars. The process of finding and applying for relevant tax credits is tedious, complex, expensive and time-consuming. The most common way is to hire a CPA. However, tax credits are hard to find and even harder to file. Most CPAs are paid by deposit and not by the amount of money saved.
MainStreet is 2 years old and offers various services including software discounts, contract negotiation and tax credits. It uses AI and customer data to identify which credits businesses qualify for. After that, he assists the company’s accountants with their paperwork so that the credits can be included in their annual tax returns. MainStreet advances a portion of tax credits due in real time free of charge upon customer request. This saves businesses from waiting for tax day. On average, businesses have saved $51,000 using MainStreet’s services.
Notable competitors include Pilot, neo.tax and traditional accounting firms. Its advantage has been an undemanding and enjoyable process with no upfront costs or subscriptions. Other factors include saving customers time, support for hundreds of credits, quick access to money rather than a year-long wait, and audit support. The company’s main challenge has been Covid-19 as taxes dry up, but its services helping businesses thrive have never been clearer.
More information can be found here: https://www.mainstreet.com/join?grsf=3d0gty
MainStreet hopes to transform the American economic landscape. Its future plans involve expanding beyond tech companies to include all startups and expanding its range of tax credits and economic incentives.
Name: Doug Ludlow
Email: Send email
Organization: MainStreet Work, Inc.
Address: 105 North 1st Street, #28 San Jose, CA 95113, San Jose, CA 95113, USA
Build ID: 89061861