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One Leg Up With Bottomline Concepts on The Alex Garrett Podcast Network · OneLegUpAlex Media

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Here's your host, Alex Garrett, all right on the Alex Garrett Podcast Network.
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How's your company's bottom line doing? That's my question today because obviously we're
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a couple of months out already from the end of tax season, but we
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can always improve our bottom line right as a company, even as a small
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business owner and a self employed person. And this is a great idea of
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bottom line concepts with me now, is Charles Orlick of bottom line concepts?
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In fact, he is an independent representative of the bottom line concepts. Charles,
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we met on Alignable and we've been talking ever since. Thanks for joining
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my podcast today. Hey, you're quite welcome, Ox gonna to be here.
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So you're an independent representative bottom line concepts. Your idea and the idea
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of the bottom line is fascinating to me, and I feel like it's something
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not all employers really know about, right, No, not at all.
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No, it's it's um more awareness in the last few months especially, you
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know, mister Wonderful is actually a good advocate for us UM and getting the
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word out there. But there's quite a few other startup companies out there that
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were started up just for the intention of this, and so we've actually been
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around for fifteen years. Josh Fox is our founder and CEO. He started
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at the you know, at the end at the last recession, UM,
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I guess you can call it, or the two thousand and eight crash,
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market collapse, crash, whatever you want to call it. UM. A
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lot of companies were laying off back then. UM. So his idea was
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to find ways to say companies money so they wouldn't have to like off their
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their their staff. So he came up with he hired you know, bunch
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of accountants and UM support staff as well, and they've started finding ways to
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save companies money. Fortune five hundred companies, you know, McDonald's, Arby's,
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UM, there's literally hundreds of Fortune five hundred, five thousand and others
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that we've saved money for so last year. The Employee Retention Credit also known
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as the employee Retention Tax Credit. It's a tax credit that the IRS has
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given one time tax credit against the payroll taxes that companies have paid small businesses.
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This is for UH could be small businesses between two and five hundred employees
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and now. During the COVID pandemic in two thousand and two thousand and one
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what am I saying that twenty twenty two, UM, when the PPP came
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out, that's a page protection program. Back then it was either one or
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the other. This program to ARC was out. The play retention credit it
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was, it was there, but the PPP involved companies just being able to
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go into their local bank. It's fign a couple of papers and basically walk
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out with a check. You know. Still it's very easy for them,
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but the catches with that, they have to pay that money back. Now
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it was either one or the other. So if you took the PPP,
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you cannot take the employee Retention credit. Now. Last year, twenty twenty
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two, there's all this money sitting at the IRS. People did not claim
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their ARC. So they said, you know, if they've collected PPP,
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we're gonna let them get a certain amount. It's not as much as it
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could be as much as twenty six thousand if someone hasn't taken the PPP,
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but it's gonna be less if they've taken it. But they can actually get
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the employee Retention Credit now, which is great because it's UM it could be
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up the twenty six thousand per employee depending on industry and other factors with their
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company. But um, it might it has twenty six thousand dollars savings and
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a time where the economy seems to be hitting bumps and roads and hitting you
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know, you know, good times and rough times. Um, twenty six
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thousand dollars. How do people not know that their company could be saving this?
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It sounds kind of weird that this is just coming out now to me
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anyway, I mean, it's it doesn't seem widely broadcasting. Well, um,
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it really wasn't. It was a government program and it really wasn't promoted
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by anyone at all. Now, um, the PPP basically, Um,
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I guess everyone had found out about that because it was quick, it was
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easy. It was instant gratification. You can walk right into the bank and
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get it. So this was a lot more hoops to jump through. Um.
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It is kind of an involved, wait, involved mountain of paperwork that
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most accountants do not even know most accountants, even even mister Wonderful on an
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interview, I saw he didn't even know about this. No, but they
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didn't even know about this. So these accountants were like, uh, they
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didn't know about it, or they if they knew about it, they've never
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done one before, and they didn't have the time to learn it, or
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they had no desire to do it, so they were just basically telling everybody,
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you know, it's going to your bank and get to pp in the
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past, but now a lot of them, a lot of people in general
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don't even know the rules were changed. So I got, I got the
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PPP. I'm not I'm not entitled to the employer Retention credit, which is
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false information. Because of the last twenty twenty two it's changed and you can
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still most cases qualify. Um now there's a let me, let me get
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you to the list. Now. It could be a decline in revenue.
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It's not the only way you can qualify for it. You can qualify for
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the r see by a change in business hours, partial or full suspension of
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the operation, shut down in your supply chain or vendors reduction and services offered,
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reduction in the workforce of a play workloads okay, inability to visit a
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client's job site. Suppliers were unable to make deliveries if you had additional spacing
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requirements such as in the restaurants, changing job roles or functions because maybe maybe
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some of you employees, weren't there, lack of travel, lack of group
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meeting, So it could be any kind of interruption in your business as of
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in normal doing business. So that's it's a lot of different factors. So
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it's it doesn't have to be a reduction in the revenue alone. It could
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be many other factors. So as long as these businesses have kept some employees
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on, it can even be part time employees or full time and place they
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can't be ten ninety nine independent contractors. That's the only thing. Well that
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is Ah, this is all fascinating and and so for the layman, for
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like just an average employer who may not want to deal with all the paperwork.
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Let me guess bottom line concepts helps with all the paperwork. Yes,
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we have we have accountants on staff, experts on staff that will um talk
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to you initially UM and see if you qualify, just make sure everything and
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then UM they will walk you through the whole process. And then we have
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staffs of accountants on staff UM that do the whole process from beginning to end.
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And you know, the client will know exactly it takes basically UM.
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You know, it could be a few weeks or two months, maybe before
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you know, everything goes from beginning to end. A lot of times the
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clients have to get some paperwork from their accountant or their bookkeeper and submit it.
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But the part that takes the longest is getting money back because the i
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rs you know, they kind of take take a while. It could be
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between three and six months in most cases. Um, now we do we
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do have a program. We don't charge any upfront fees for this, but
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the fees are only after the customer if they're able to receive a check for
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money at the i R s, then then we build them for that for
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the fee. Um, it's gonna So are you are you an accountant by
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trade? I guess or what is your How do you involved with this?
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I'm not an account by trade, but my job is basically to reach out
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to local business owners or business owners online anywhere as in U in the USA
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and tell them, advise them about the program a little bit, and get
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them to submit the information and then we get them in touch with one of
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her experts who takes them from the beginning of the process and hopefully through the
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end. So there we go. So, Charles, let me ask you
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this because I just I think it's something that people have to know, and
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how can people reach out to you or even even bottom Line Concepts. Okay,
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well, they can go to the website, which is a special website
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for this is artc quick dot com artc quick dot com. Or they can
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send a text message to ARC to eight eight five hundred eight eight five zero
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zero the word the letters ARC and then I don't know if you mentioned this
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already, but is there a limit to the number of employees or there minimum
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number of employees that have to be retained to get this credit? Or okay,
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well, bottom Line Concepts actually processes between five and five hundred employees.
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Sometimes you can do more. It depends on the company and the everything they
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go through for qualifications. But anything from we did work out a deal with
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Stimulus Geeks, which specializes in very small companies. So anything from between two
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and four employees we will submit over. We will send over to Stimulus Geeks
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who will pick up that part of that process. Now, how is alignable
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help? Because I love that you're connecting on there and people can connect with
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you there and LinkedIn right. Oh. Alignable is excellent for connecting two types
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of businesses. So I basically try to get information out there about the program,
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try and explain about it, some articles things like that, and this
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let business owners know. Small business owners know that this money's out there and
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it hasn't been claimed. There's there's million millions out there, and the stats
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are saying right now eighty five percent of small business. It's might have gone
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down a little bit, but eighty five percent of small business has not claimed
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money that they have sitting there for them in the arc as of right now.
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Tell me about the rewarding factor of this, because a as a recruiter,
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you're trying to get more people to help out with this cause. But
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be as someone who's on behalf of you know, representative on behalf of bottom
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line concepts, when you know these employers are saving money, tell us how
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rewarding that is. Oh yeah, well, this is um. You know,
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we may be going into a recession right now, and this is money
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that they have already earmarked towards this in UM you know, part of the
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Cares Act. This money has already been approved years ago. And all they
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did was that the money he's been sitting there and they just changed the rules
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that even if you did take the PPP. Now you can actually get a
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portion of this, so you might as well file it because it's free money.
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I mean, it's not free money, but you're gonna have to pay
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taxes on it, that's one thing. But otherwise it's a large sum of
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money that most small businesses probably have coming to them. They just have to
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see if they qualify for it, and if it's if it's something they can
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do so they can use the money for any reason. I mean, it's
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it's basically a one time refund of the payroll tax credits that they've paid into
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all these years that that the I Arrest is offering as part of the Cares
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Act. So what they can do is they can use this money to help
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them maybe expand their operations a little bit, maybe like do some renovation anything
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they want, um bout a part of their high around new employee maybe you
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know, using some of that money. So anything that could help the business.
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Um it's a good thing, you know. I do like when companies
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are able to shift around their funds and make those savings work for other leaks
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in the departments, right so to speak. So you're saying that could be
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a huge benefit, Oh, absolutely, So Yeah. So, you know,
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especially when you get a little bit of inflation going on, some businesses
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may have to move to another location and that involves some expenses. You know,
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a different markets are changing and um, some some studies are doing better
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than others, and so some companies might just want to move, make a
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move somewhere else to start over again. So this might even be able to
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help them out to do that or a new a new headquarters or a new
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storefront or whatever. You know, they want to upgrade a little bit.
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That that would be great to help them out for that. So we have,
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yeah, businesses making hundreds of thousands from this refund up to millions.
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I mean there's uh, there's a home there's a home cleaning company got back
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three million dollars is one of one of the clients. It's incredible because it's
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a lot of money. Why why are you wanting recruiters for this? Tell
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us about that part. Why do you want people? Why are you recruiting
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people to work for bottom line concepts? Even from remote Well, there's so
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many small towns and small you know, small cities, and you know,
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the word really hasn't got out on the street in a lot of places.
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A lot of people, you know, they've got a lot of startup companies
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that are promoting EARC have no experience doing it. They're they're a little pushy
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when it comes to that. We're an Inc five thousand company, we've been
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around fifteen years. We've worked with the Fortune five hundred. So bringing on
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ARC and working with small business is something that we knew we were going to
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be great at and so that is why we started doing it, um,
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you know, last year. So why why we want people in different cities
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to do it locally? We need the word to get out there. We
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need the word to get out there that this money is available, and we
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want to help as many small businesses get back this money that's out to them
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as soon as possible before it expires. And now it's gonna part of it's
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gonna expire in twenty twenty three, and the second part is gonna the next
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year is gonna expire in twenty twenty four. So if you know, there's
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only she's I think it was like six hundred days left to do this and
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then it's over unless they are trying to expand it. Uh, mister wonderful
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actually went to Congress and they're trying to get it expanded for for another year
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hopefully. All right. For those who don't know who mister wonderful has even
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reference him a few times, give us a little insight into him. Oh,
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Kevin O'Leary from Shark Tank. Um, mister wonderful. He owns a
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lot of businesses and he has a big network. He's actually partner up with
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bottom Line as well. And yeah he uh, he went on a few
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TV shows and to to get the word out about this and be like one
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of our spokes people about it, um, because really nobody talking about it,
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and you know, in a year or two is just going to expire
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and then if we don't get the word out about it. You know,
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this is a lot of money that people have, small businesses could really use
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that. They're leaving a lot of money on the table by not taking this
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BRCA exactly so. And you're saying the credit expires or no, yeah,
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it's gonna expire. Let me see. I don't see if I have in
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front of me here you know the first part Now it's um, I can
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give you right now. I got a lot of information from me. Okay,
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recover, okay, retro back to twenty twenty at five thousand perm play,
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and then there's actually refunds for the okay So actually if they go to
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the website earcc quick dot com, it's all right on the front page and
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that would actually tell them it's so much per quarter in twenty twenty one.
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And then there's um okay breaks down a seven thousand perm play per quarter in
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twenty twenty one from January one, twenty twenty one, and continues to September
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thirty at twenty twenty one, for a total twenty one thousand okay perm flay
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up to you would say, because if they took PvP, it's probably gonna
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go down and recovery. Startup businesses are eligible to continue in the program to
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December thirty first, twenty twenty one, and at there's also a retro back
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for twenty twenty at five thousand firm play, and it says the i r
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S will issue refunds for the past quarters back to twenty twenty what or two,
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including to the beginning of twenty twenty one. So that's that's quite a
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few quarters right now. That is awesome and I'm glad we're doing this now
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before it expires, because I think people need to know now there is a
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number you texted me earlier that people can actually text right now if I'm not
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mistaken, text ARC to eighty eight five hundred for more information ARC to eighty
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eight five hundred, and perhaps we'll see an affiliate link on my own podcast.
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We'll have to work that out, Charles, but that would be kind
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of cool if we were helping up people more involved, because we need to
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in this big city of New York. Sure, yes we do. UM
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in New York or UM wherever they're listening. UM, as long as it's
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the United States, UM, you know they're eligible. UM. It even
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does UM say like it's a Canadian company and they have operations in the USA
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and you know they're their businesses in the USA and they're getting taxed on them,
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they might be able to do as well. You know, our experts
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can take them through that. But also a big thing is even though it's
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like zero to five I'm sorry, five to five bottom line, it does
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kind of go through other ways. Like you think of a bigger company that
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has franchises all over the country, so such as like um RBS or Dunkin
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Donuts or things like that. Um it could be sever a company that owns
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several franchises, each franchise could probably pass as a location. So an independently
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franchise location that's franchised by a person that has between UM five and five hundred
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plays would probably be able to qualify. So even if they have more than
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one French I say, say I'm an owner of an Rby's, and I
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have five locations that have m you know, fifty each, I could probably
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have ARC for all five locations. So it does go out to multiple location
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owners like that as well. In most cases. Well, this is a
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this is a great opportunity. And I got to ask you this because I
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feel like people are starting to know you through Alignable and LinkedIn even more so.
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Who is Charles or is this your main job? Is this your is
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this your full time gig? Or is this sort of like a sidehustle?
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What is this for you? To be an independent representative? Well, actually
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I've been I've been a professional disc jockey for so many years, and when
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COVID hit, I actually started um my own shopping business, shopping and delivery
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business locally, and that's kind of winded it down since COVID. So I've
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almost become full time in UM doing ARC with bottom Line because it's a very
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UM in demand opportunity UM. So I like kind of UM going with the
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trends. UM. There's always something good that's happening UM that you can do
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during pretty much any time of the economy. So I figured, you know,
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this is this really need, This really could help a lot of people.
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This really could help a lot of business owners. And I feel great
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helping a lot of people, UM get back money. This is something that
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even even is bottom line concept is there for the self employed also that maybe
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don't want to deal with Corporate America. Well not not necessarily as far as
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our services go, but if you want to become a representative for them,
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UM, it offers a terrific opportunity to via via ten ninety nine UM uh
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ten ninety nine contractor with us. So, but you never know, might
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it might expand down the road to include services for independent contractors. Well that
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that's very cool. And I know that you love you love this. I
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can tell them the way we're talking before we're on the other you love this
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job. You love working for bottom line concepts, and I think you love
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helping people, which is just part of the most important thing in this whole
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conversation is bottom line concept is there to help you as the business owner.
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That's correct, And you know they're always looking for future opportunities. You know
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there might be more more programs like this down the road, and I'm sure
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that bottom line is going to be looking into any any any any new opportunities
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that arise to helping small businesses and pretty much any businesses for that matter.
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So where can people reach you? Oh okay, I'm sorry you cut out
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there for a minute. They can They can reach me at artc quick dot
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com. That's our website to they can check and see if they qualify and
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set up a ten to fifteen minute call with an advisor who will see if
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they qualify and guide them to the next steps once again ARTC quick dot com,
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and that will that site will actually accommodate the two to four play companies
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as well, So if they're two to four it will send them over to
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stimul s geeks or they can eat. They can send out text message to
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ARC to eighty eight. That's actually my text message link and they can get
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to the website through there. They or they can contact me directly if they'd
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like to have any questions or anything like that and look forward to helping them.
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Well, Charles, thank you for this time today and we'll definitely have
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you back on and we'll see what happens next with the bottom Line Concepts and
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Alex Garett podcasting. Okay, thanks a lot, Alex. There's been the
22:51
Alex Garrett podcast Network.