Member Service Review: Adesso Capital ERC Filing
Adesso assists qualifying businesses with their applications for the Employee Retention Tax Credit (ERC) and can also assist in securing Business Financing.
Adesso currently partners with several other state restaurant associations and met with Nathan at the recent CSRA conference to discuss the service they provide.
How it works:
SDRA staff and reps would use a (webpage) provided by Adesso to submit referrals to them from members who are interested in their service. If the business qualifies for ERC, Adesso will complete the paperwork for a percentage of the credit the business receives.
SDRA would receive a 10% share of all fees which Adesso earns and actually receives from members stemming from the preparation and re-filing of Federal Payroll taxes, inclusive of ERC, on behalf of the referred customer.
SDRA would receive a 10% share of all Broker Commissions if a member utilizes Adesso for business financing.
SDRA reps would receive $500 commission for any qualifying referral they submitted to Adesso.
Adesso will create all marketing materials and necessary information for SDRA use.
Pros:
Adesso currently partners with several other state restaurant associations and met with Nathan at the recent CSRA conference to discuss the service they provide.
How it works:
SDRA staff and reps would use a (webpage) provided by Adesso to submit referrals to them from members who are interested in their service. If the business qualifies for ERC, Adesso will complete the paperwork for a percentage of the credit the business receives.
SDRA would receive a 10% share of all fees which Adesso earns and actually receives from members stemming from the preparation and re-filing of Federal Payroll taxes, inclusive of ERC, on behalf of the referred customer.
SDRA would receive a 10% share of all Broker Commissions if a member utilizes Adesso for business financing.
SDRA reps would receive $500 commission for any qualifying referral they submitted to Adesso.
Adesso will create all marketing materials and necessary information for SDRA use.
Pros:
- Assistance for members who are unsure of the process to file
- Additional revenue to SDRA/Reps - paid monthly
- Easy to market and submit referrals
- Year contract to review service, if no interest, we can cancel the agreement
- At this point I am not seeing any cons to bringing them on as a service.
Draft Agreement
| sd_retailers_22-8-4_partner_agreement.docx |
Email Marketing Examples
| wra_erc_video_email_to_sras_8jul22.docx |
| email_to_tx_ppp_recipients_8jul22.docx |
Review from Wisconsin Restaurant Association
"We launched our partnership right during the CSRA conference time in Mackinaw (a few weeks ago). We’ve been hitting it hard and really starting to see results. We just received our first commission check this Friday (Aug. 12). This program is very promising for driving some significant non-dues revenue . But you have to be committed to managing the marketing and process to maximize the results. Adesso has a GREAT time and tries to make everything as easy as possible for the SRA."
Dawn Faris, Vice Pres. Membership & Business Dev.
Dawn Faris, Vice Pres. Membership & Business Dev.
Q & A From Committee
Q: What percentage does a business pay to Adesso from their credit received?
A: 12.5% on the first $100k and a reduced fee of 7.5% for any amount exceeding $101K. Example: An ERC of $150,000 would be $16,250. $12,500 on the first $100,000 and then $3,750 on the next $50,000 (7.5%). Total percentage is 10.8% in that example. For larger deals, the fee % is usually less than 10% based on this formula.
Q: Is there a cost for consultation?
A: No
Q: Does a business pay fees to Adesso if we file and we are not eligible for a credit?
A: No, and additionally if we file and the IRS disputes the refund, Adesso will refund any fee if a fee had been collected. (As of this date Adesso has not received any disputes from IRS on their submissions.)
A: 12.5% on the first $100k and a reduced fee of 7.5% for any amount exceeding $101K. Example: An ERC of $150,000 would be $16,250. $12,500 on the first $100,000 and then $3,750 on the next $50,000 (7.5%). Total percentage is 10.8% in that example. For larger deals, the fee % is usually less than 10% based on this formula.
Q: Is there a cost for consultation?
A: No
Q: Does a business pay fees to Adesso if we file and we are not eligible for a credit?
A: No, and additionally if we file and the IRS disputes the refund, Adesso will refund any fee if a fee had been collected. (As of this date Adesso has not received any disputes from IRS on their submissions.)
