WEST PALM BEACH, Fla., May 23, 2023 (GLOBE NEWSWIRE) -- Paybotic (“Paybotic” or “the Company”), the premier resource for financial solutions designed for the cannabis industry, announced today an update from its sister company, Accountabis Advisors, that it has hired a new experienced cannabis accountant Lenard Rahming. Accountabis is also sharing an update on milestones through its consulting service where it helps clients take advantage of the ERC tax credit as the opportunity exists. The pipeline for ERC tax credits is currently at $2.6 million.
Lenard Rahming is joining the Accountabis team as an experienced cannabis accountant with over 15 years of experience in public and private accounting. He has expertise in tax preparation, financial analysis, and audit compliance. An experienced financial analyst with expertise in financial statement preparation, budgeting and forecasting — he has also worked on various business consulting projects, including market analysis and cash flow projections. Additionally, he is knowledgeable in financial risk management and financial software applications, along with international tax laws and worked with clients to optimize their financial structures and strategies. He is now a part of the Paybotic Accountabis brand, as one of the Staff Accountants to further build and strengthen the team.
“Paybotic’s ecosystem of consulting companies, which includes Accountabis Advisors, is comprised of the top, talented professionals at the height of their careers, and Lenard is a natural addition to the Accountabis team,” said Max Miller, CEO & Co-Founder of Paybotic. “His experience in risk management and financial services, where Lenard has helped countless clients optimize their businesses through financial consulting expertise, is the perfect fit for the top-quality services our companies provide.”
Additionally, Accountabis has been successfully assisting business owners with taking advantage of the Employee Retention Credit (ERC), which is a tax credit available to operators who continue paying employees in 2020 and 2021. For new and existing clients, Accountabis works on preparing the required filings in order to receive up to $26,000 per employee retained throughout the pandemic as long as the Company meets certain eligibilities.
“We are proud to currently be able to offer an advance of the ERC credit for businesses currently working with us, and we’re pleased to have a new robust marketing campaign rolling out on this program,” said Michelle Escalera, Cannabis Accountant at Accountabis Advisors. “We should have $600k-$800k funded this quarter, and are pleased to report we have $2.6 million in the pipeline for our clients.”
As a part of the CARES Act, the ERC was designed to incentivize employers to retain employees by providing a credit on their withheld income tax liabilities for employees. The eligibility for the tax credit varies year by year and its goal is to strengthen businesses who may have been impacted by the pandemic. Understanding of the program can be difficult for many business owners and as such, the Accountabis’ consulting team is now assisting businesses with taking advantage of the program by consulting them through eligibility and filing.
For more information on ERC consulting services through Paybotic, please visit: https://accountabisadvisors.com/erc/
About Paybotic
Paybotic is a merchant-focused financial solutions company dedicated to servicing the cannabis industry. Founded in 2013, Paybotic is the preeminent financial solution provider for the cannabis industry offering a full-suite of financial solutions. Paybotic features ongoing compliance and security services to support a trusted network of partnerships for cannabis companies and their customers. Paybotic processes billions of dollars annually through its network of thousands merchants across all legal cannabis markets, offering low downtime and has created a financial ecosystem for the emerging cannabis industry. To learn more, visit https://paybotic.com/.
About Accountabis Advisors
Accountabis Advisors, established in 2021, is a trustworthy partner for accounting services in the cannabis industry. We take pride in our commitment to transparency, honesty, and respect for each of our customers. Powered by Paybotic’s more than a decade of experience in cannabis and payment processing, our mission is to listen to our clients' needs and provide expert advice and services tailored to their unique business goals. Our team is composed of highly skilled and knowledgeable professionals from across the country, who are well-versed in the latest federal and state regulations in the cannabis industry. We understand the challenges that businesses face in this constantly evolving industry, and we strive to provide reliable and credible information to our clients. As a holistic business partner, we provide a range of services, including bookkeeping, tax planning and preparation, financial reporting, and more. Our team has the expertise and connections necessary to ensure that our clients receive the support they need to succeed in the cannabis industry. Visit our website at https://accountabisadvisors.com/.
Media Contact:
Cassandra Dowell
CMW Media
+1 858-221-8001
paybotic@cmwmedia.com
www.cmwmedia.com
