Synergi Partners has joined the Domino’s Franchisee Association (DFA) as a preferred vendor partner to assist franchisees in obtaining available Federal disaster relief tax credits. Every business located in a disaster area is eligible to receive a credit of up to $2,400 for every employee retained, according to the Disaster Relief Act of 2019 (H.R. 1865) signed into law by the President on December 20, 2019.
“Many employers are not aware of the available tax credits that are based on how your business was impacted due to the disaster,” states Synergi Partners National Sales Manager, Lindsay Martin. “Any business located in a disaster area who retained employees and their business was disrupted is eligible for the tax credits.”
Disaster zones include areas impacted by Hurricane Florence, Hurricane Michael, California wildfires, and other storms and natural disasters that occurred from 2017-2019. The credit, known as the Employee Retention Credit (ERC), is applicable to designated disaster zones for the following natural disasters:
- Alabama Severe Storms and Tornadoes (2018)
- Alabama Severe Storms, Straight-line Winds, and Tornadoes (2019)
- Arkansas Severe Storms and Flooding (2019)
- California Wildfires (2017)
- California Wildfires (2018)
- California Wildfires and High Winds (2018)
- Florida Hurricane Irma (2017)
- Florida Hurricane Michael (2018)
- Georgia Hurricane Irma (2017)
- Georgia Hurricane Michael (2018)
- Hawaii Kilauea Volcanic Eruption and Earthquakes (2018)
- Hawaii Severe Storms, Flooding, Landslides, and Mudslides (2018)
- Indiana Severe Storms and Flooding (2018)
- Iowa Severe Storms and Flooding (2019)
- Mississippi Severe Storms, Straight-line Winds, Tornadoes and Flooding (2019)
- Missouri Severe Storms, Tornadoes, And Flooding (2019)
- Nebraska Severe Winter Storm, Straight-line Winds, and Flooding (2019)
- North Carolina Hurricane Florence (2018)
- North Carolina Tornado and Severe Storms (2018)
- Northern Mariana Islands Super Typhoon Yutu (2018)
- Northern Mariana Islands Typhoon Mangkhut (2018)
- Ohio Severe Storms, Straight-line Winds, Tornadoes, Flooding, Landslides, and Mudslide (2019)
- Oklahoma Severe Storms, Straight-line Winds, Tornadoes, And Flooding (2019)
- South Carolina Hurricane Florence (2018)
- South Dakota Severe Storms, Tornadoes, And Flooding (2019)
- South Dakota Severe Winter Storm, Snowstorm, and Flooding (2019)
- Texas Hurricane Harvey (2017)
- Texas Severe Storms and Flooding (2018)
- Texas Severe Storms and Flooding (2019)
- Texas Tropical Storm Imelda (2019)
- Wisconsin Severe Storms, Tornadoes, Straight-line Winds, Flooding, and Landslides (2018)
Synergi Partners provides DFA members a complimentary evaluation to assist in maximizing tax credits that are potentially available to franchisees. The evaluation analyzes tax credit eligibility for businesses in all affected disaster areas for each business location. Synergi Partners has developed a proprietary methodology called “Operational Impact Analysis” which evaluates the totality of business impact, including revenue loss, on an individual company basis.
The tax credit can be substantial according to Martin. A small business or single location with 25 employees could realize as much as $60,000 in tax credits with the amount increasing as the number of employees increase.
“While nearly every business with employees can be eligible for the tax credit, the evaluation to maximize the credit can be very complex,” states Martin. “By offering an evaluation to DFA members, we have a unique opportunity to engage in supporting the sustainability and growth of their franchises.”
The disaster relief tax credits can be claimed on 2019 returns. The tax credits go directly against the company’s tax liability and can be carried forward up to 20 years.
Along with disaster relief, Synergi Partners also assists employers in claiming the Work Opportunity Tax Credit and over 3,000 state credits available to businesses. Some of these tax credits include the New York Youth Job Tax Credit, Georgia Job Tax Credit, and South Carolina Job Tax Credit.
To find out if your business is located in a disaster zone or to see which state credits are available, please reach out to Lindsay Martin at (267) 467-3262 or firstname.lastname@example.org. As a preferred vendor of DFA, Synergi’s goal is to find and maximize tax credits for your business, increase franchisee’s profitability, and provide financial value to your organization. To learn more about Synergi Partners please visit www.synergipartners.com/dfa.
About Synergi Partners
Comprised of tax credit veterans with many years of experience serving clients of all sizes and in virtually all industries, Synergi Partners specializes in helping employers take advantage of federal and state tax credit programs, as well as disaster relief incentives.
With an executive team made up of thought leaders who have made significant contributions to the tax incentives industry, Synergi Partners’ main goal is to provide the best service available and to achieve maximum value for its clients.
The current Domino’s Franchisee Association (DFA) began in 2006 and serves the Domino’s Pizza Franchisee community in the continental United States. With headquarters in San Antonio, TX, the DFA is the largest, independent organization dedicated to representing and protecting the business interests of Domino’s Franchisees. We are committed to providing vital support and assistance to our Franchisee community.