Billing
How can you tell if someone has transferred their advance to their bank account?
Under the billing page --> If their total credit paid out amount is positive and the total available balance is $0
This is the annual tax return form number for C-Corps
1120
For a company's qualified research wages/activities to be deemed as qualified, the work/activities must be conducted _______ (location).
Within the United States
Where are the two places you can create a billing ticket for Ibrahim?
Within HubSpot and in the #cs-ops-requests channel in Slack
What two methods can you use to upload manual payroll report data?
CSV Upload and individual data point entries
Name two types of businesses on Stripe's Restricted Businesses List
Counterfeit/Unauthorized Goods, Gambling, Illegal Products/Services, Regulated Products/Services, IP Infringement, Adult Content and Services, Drug Paraphernalia, High Risk Businesses, etc.
(Full List Here - https://stripe.com/restricted-businesses)
To claim the R&D Credit against payroll taxes, this form must be filed the quarter after a company files their 1120 Tax Return (with a completed Form 6765 included)
Form 8974
This test is used to determine if an activity is viewed as qualified or not by the IRS with regards to the Federal R&D Tax Credit.
The Four Part Test
You are able to regenerate order forms on the _______ page of a company's Ops Tool.
Program
Where can you find the template for Manual Payroll Report Uploads?
Within Google Drive and the 2020 Tax Processing Folder (also, recently shared in the #cs-team channel by Ryan last week)
What type of Stripe account is made when a client creates their MainStreet account?
Stripe Connect Account (Stripe Payout Account)
This is the form number for quarterly business tax filings
Form 941
California, Massachusetts, Arizona, Georgia
The _________ process is when adjust a client's repayment schedule if they were overcharged/over-advanced throughout the lifetime of their program.
Reconciliation
Name 3 out of the 5 data points we need for a properly formatted manual payroll upload report.
- Employee's Name
- Employee's Role/Title
- Employee Location (State)
- Employee Type (FTE vs. Contractor)
- Gross Payroll/Pay in previous fiscal year
When is a two quarter subscription plan billed? (ie. ERC).
Example: A client signs up for their ERC Credit in June 2021. When will they be billed for their ERC programs?
1st day of two consecutive quarters
Ex: July 1st and October 1st
Social security taxes, medicare taxes, and the ERC Credit are all types of taxes/credits that are claimed as part of a company's ______ tax filing.
Quarterly, 941
The (insert state here) state R&D Tax Credit is extremely beneficial to our clients because of its ability to be claimed against an employer's payroll tax liabilities.
Georgia
Where are you able to send a client a password reset link?
(dashboard.mainstreet.com) - hit Forgot Password
The ______ page is where you are able to upload/edit employee information (such as name, job title, job group, pay, etc.)
Put these in order of how they are processed by our billing team on billing day:
- Credit Advance Payback/Repayment
- Program Billing
- Credit Advancement/Funding
Billing, Advance (Funding), Payback
This is the annual tax return form number for S-Corps
1120S
What are the 4 parts of the 4 part test?
1. Permitted Purpose (or Qualified Purpose/Business Component Test)
2. Elimination of Uncertainty
3. Process of Experimentation
4. Technological in Nature
______ is the name of the 3rd party service that we use to connect to a client's accounting tool.
Codat
The ______ page is where you are able to edit Client Percentages for R&D Activities
Program Page (ie. 2020 Federal R&D Tax Credit url under the Programs section of the Ops Tool)