Business

Curious How Innovative Start-Ups Are Saving Thousands on Taxes Each Year?

Published

3 years ago

February 11, 2021

Start-ups are notorious for their scrappy tactics and innovative growth techniques. However, many start-ups may not be aware of the tax credits and incentives available to them. Certain tax credits can be the difference of thousands of dollars saved each year in taxes. According to Josh Alballero, tax expert and founder of IOOGO, “The R&D tax credit is one of the greatest tax credits available to start-ups and small businesses.”

The R&D credit, is officially known as the “Credit for Increasing Research Activities” this credit is available to start-ups in any industry, and in many cases, you do not even need to have a research and development department to qualify for the credit! Many start-ups miss out on this incredible incentive because they assume they won’t qualify, however, if you’re in the process of creating a new product or service, there is a good chance your business is an ideal candidate.

According to Alballero, there are two major benefits of the R&D credit.

This credit can give you resources you otherwise wouldn’t have access to. One of the most important stages when bringing a new product or process to the market is the research and development stage. Some start-ups won’t spend enough time on this stage due to a lack of resources, staff, or funding. This credit can put much-needed money back in your pocket to allow you to focus on this crucial phase of building your business.
The R&D credit covers a variety of expenses. This credit may be applied to costs you’d never considered, wages, supplies, consultant fees, contractor fee, prototyping, tooling/ supply expenses, packaging, surveys, studies, software costs, equipment, and more! The stipulations of this credit allow businesses to apply up to $250,000 of their research expenses against their payroll tax or income tax for up to five years. This means that businesses could expect to get back around 10 – 15% of what they spent on R&D.

Calculating R&D credit can be quite complicated and in most cases, business owners should consult the expertise of a tax professional or accounting firm. The IRS will look closely at any business’s R&D credit, so it is important that you follow the proper protocol. The tax experts at IOOGO specialize in R&D credit matters and can ensure you’re following federal regulations and taking full advantage of the credits available to you. In order to file for the R&D credit, a business will be required to file Form 6765 with their tax return. This filing process should not be costly and business owners should be wary of any accounting or tax firm that attempts to charge them thousands of dollars for this filing process or even a percentage of the savings in payroll taxes, which is an illegal process.

To learn more about the R&D credit or to schedule a consultation with an IOOGO tax expert, visit www.ioogo.com.

Business

EFX Algo’s April Ascendancy: Commanding $37.63 Million in Deposits with Profits Soaring to $3.27 Million

Published

3 days ago

April 30, 2024

Matthew Wiles

As of April 11, 2024, EFX Algo stands out as a formidable force in the automated trading industry, showcasing extraordinary growth with a record-breaking $39 million in deposits across over 520 accounts. This month alone, EFX Algo realized gains of $321.24k, contributing to an impressive yearly profit of $2.75 million, cumulating a total profit of $3.5 million.

This financial technology powerhouse, co-founded by industry leaders Danny Reardon, Bogdan Padua, and Joe Amara, revolutionized the investment landscape by merging advanced technology with deep market insight to deliver a truly automated, hands-free trading experience.

EFX Algo is marking a significant footprint in the financial technology landscape. This article delves into the remarkable achievements of EFX Algo, spotlighting its rapid growth and the exceptional monthly gains that captivate investors globally.

A Financial Phenomenon

EFX Algo began as an idea between co-founders with a shared ambition to democratize the trading market. Today, it stands as a juggernaut in automated trading, having processed over $39 million in deposits across hundreds of accounts. As of recent evaluations, EFX Algo manages these substantial funds and delivers impressive gains, with reports showing an upward trajectory of $1.43 million in profits in just one month.

“We created a platform that exhibits robust performance and reliability time and again,” Reardon said. “I think I speak for all of us at EFX Algo when I say we are proud to show our numbers, because they reflect our aims: Democratized trading profits for all.”

Innovative Trading Strategies and Performance Metrics

At the heart of EFX Algo’s success are its innovative trading strategies, designed to cater to various investor profiles from conservative to aggressive. The platform’s ability to yield consistent returns is evidenced by its performance metrics, boasting gains that significantly outperform traditional investment benchmarks.

“We employ a diversified approach, meticulously back-tested and refined, to ensure stability and growth amidst the volatile financial markets,” said Reardon.

Unparalleled Support and Client Success Stories

Beyond its financial accomplishments, EFX Algo shines in customer support and satisfaction. The platform has been likened to having a personal assistant, akin to ‘Alfred from Batman,’ always ready to assist and enhance the investment journey.

Testimonials abound of users experiencing substantial portfolio growth, with one investor highlighting a 20.5% increase in just four months.

“We care about empowering investors with the tools and support necessary for success,” Reardon shared.

A Transparent and Trustworthy Trading Partner

Transparency and trust form the cornerstone of EFX Algo’s philosophy. Through real-time data verification with Myfxbook, clients and would-be clients alike can independently assess the platform’s performance, ensuring that their investment decisions are based on genuine and untampered data.

“We believe our openness cements our reputation as a reliable partner in the automated trading industry,” Reardon said. “We are building a community of informed and enabled investors.”

A Visionary Leap into the Future of Trading

EFX Algo is a vision realized, transforming the space of automated trading and setting new benchmarks in financial technology innovation. As it continues to grow and expand its horizons, EFX Algo proves to be a gateway to financial equipment and independence. With its impressive growth, consistent performance, and dedication to client success, EFX Algo stands as a paragon of investment excellence, reshaping the future of trading one transaction at a time.

About EFX Algo

Founded by Danny Reardon, Bogdan Padua, and Joe Amara, EFX Algo is an innovative, fully-automated trading bot designed to provide 100% hands-free, high-return investment opportunities by transforming yearly gains into monthly profits, previously exclusive to an educational network and now available to the general public. The software is designed to manage investments and execute trades in the financial markets without the need for manual intervention. For more information, please visit: https://www.efxalgo.com