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.
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.
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, kerriann@superior-pr.com,
http://www.superior-pr.com
View original
content:https://www.prweb.com/releases/arvo-tech-secures-2-5mm-to-deliver-comprehensive-tax-strategy-solution-to-more-smbs-302199000.html
SOURCE Arvo Tech