Introduction

Supercuts is a national chain of hair salons with over 2,500 locations. In 2020, the COVID-19 pandemic forced many businesses to close their doors, including Supercuts. The owner of 250 Supercuts locations was facing a significant financial hardship.

Challenge

The owner of the 250 Supercuts locations was eligible for the Employee Retention Tax Credit (ERTC), but he was not sure how to apply for it. The ERTC is a tax credit that was created by the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help businesses keep their employees on payroll during the pandemic. The credit is equal to 50% of the wages paid to employees who were kept on payroll during the covered period.

The owner of the 250 Supercuts locations was facing a number of challenges in applying for the ERTC. First, he had a complex ownership and partnership structure. Second, he was not sure how to accurately apply the Aggregate Employer Rule to his tax credit application. The Aggregate Employer Rule is a provision of the CARES Act that limits the amount of ERTC that a business can claim.

Solution

The owner of the 250 Supercuts locations hired Archetype Consulting Group to help him apply for the ERTC. Archetype Consulting Group is a boutique advisory firm that specializes in helping businesses access unconventional receivables. Archetype Consulting Group has extensive experience in the legal and finance industries, and they were able to quickly understand the owner’s complex ownership and partnership structure. Archetype Consulting Group also had a deep understanding of the Aggregate Employer Rule, and they were able to accurately apply it to the owner’s tax credit application.

Results

Archetype Consulting Group was able to help the owner of the 250 Supercuts locations collect $6,740,071 for his ERTC. This was a significant amount of money, and it helped the owner to keep his businesses afloat during the pandemic.

Testimonial

“I was very impressed with the work that Archetype Consulting Group did for me. They were able to quickly understand my complex situation, and they were able to get me the maximum amount of ERTC that I was eligible for. I would highly recommend Archetype Consulting Group to anyone who is looking for help with the ERTC or any other unconventional receivable.” – Owner of 250 Supercuts locations

Call to action

If you are a business owner who is eligible for the ERTC, I encourage you to contact Archetype Consulting Group. They can help you understand your eligibility, and they can help you apply for the credit.