MainStreet 2.0
77k program details
77k is a new Beta program. All details are subject to change
Our goal with 77k is to ensure that you and your employees only pay when savings are actually incurred. We will only charge you when we save you, and you’ll always pay less than we save you.
77k is designed to be a single unified offering, where MainStreet takes care of the details behind the scenes so you don’t need to worry about each individual savings opportunity. We will constantly be adding new offerings to save you and your employees money
This page lists out the details of the specific programs available. All details are subject to change
Program Definition
| Program | Definition |
| Federal R&D tax credit – Payroll tax credits | Business tax credit for increasing spending on research activities. Businesses must pass the 4 part test, and have US based employees conducting research activities |
| Federal R&D tax credit – Income tax credits | Business tax credit for increasing spending on research activities. Businesses must pass the 4 part test, and have US based employees conducting research activities |
| Employee Retention Credit | Covid credit for businesses who retained or grew employees during 2020 and 2021, despite experiencing qualifying hardships due to covid-19 |
| CARES Student Loan and Educational Assistance Benefit | Employee benefit providing funds to employees to spend to pay off student loans or purchase other educational courses. Employer may choose to offer as salary replacement or as an additional benefit |
| Accountable Plans | Employee benefit offering reimbursement for work related expenses. Can be set up as a budget per-employee, as part of a broader compensation plan |
| Other Federal tax credits – Income tax credits | Any other federal credits – this includes the Retirement and Health Care credits for small businesses |
| State tax credits – Income tax credits | Any state credits – this includes state R&D programs |
Program Value Delivery Timeline
| Program | Value Delivery Timeline |
| Federal R&D tax credit – Payroll tax credits | When credits are applied against payroll taxes – defined as when form 8974 is processed by the IRS |
| Federal R&D tax credit – Income tax credits | When credits are actually applied towards income taxes owed in an annual income tax filing (ie. not if credits are carried forward as NOL) |
| Employee Retention Credit | When refund is processed by the IRS for form 941-x |
| CARES Student Loan and Educational Assistance Benefit | When payment to employee is processed on each paycheck |
| Accountable Plans | When payment to employee is processed on each paycheck |
| Other Federal tax credits – Income tax credits | When credits are actually applied towards income taxes owed in an annual income tax filing (ie. not if credits are carried forward as NOL) |
| State tax credits – Income tax credits | When company owes federal income taxes |
Program Value Delivery Definition
| Program | Value Delivery Definition |
| Federal R&D tax credit – Payroll tax credits | Amount of credit used to offset payroll taxes during a given quarter |
| Federal R&D tax credit – Income tax credits | Amount of credit used to offset income taxes during a given year |
| Employee Retention Credit | Refund amount from the IRS |
| CARES Student Loan and Educational Assistance Benefit | Estimated employee payroll + income tax (calculated with an estimated income tax amount) and employer payroll tax for the benefit amount, if the benefit amount had instead been paid as salary |
| Accountable Plans | Estimated employee payroll + income tax (calculated with an estimated income tax amount) and employer payroll tax for the benefit amount, if the benefit amount had instead been paid as salary |
| Other Federal tax credits – Income tax credits | Amount of credit used to offset income taxes during a given year |
| State tax credits – Income tax credits | Estimated amount of credit used to offset income taxes during a given year, based on credit amount and federal income taxes owed |
Program Fees
| Program | Fees |
| Federal R&D tax credit – Payroll tax credits | 20% of credit |
| Federal R&D tax credit – Income tax credits | 20% of credit |
| Employee Retention Credit | 20% of credit |
| CARES Student Loan and Educational Assistance Benefit | 43.4% of total savings (20% of employee savings, 80% of employer savings) |
| Accountable Plans | 43.4% of total savings (20% of employee savings, 80% of employer savings) |
| Other Federal tax credits – Income tax credits | 20% of credit |
| State tax credits – Income tax credits | 20% of credit |