Omega Accounting Solutions Review

Pros

• Fast, easy, & secure ERC refund process
• Additional tax & business services available
• ERC loans available for fast funding
• Excellent customer support

Cons

• Non-transparent pricing
• Potentially slow processing times
• Some complaints about high fees

What Is Omega Accounting Solutions?

Omega Accounting Solutions is an accounting and data firm that offers business and financial solutions to its clients. One area that has been getting a lot of attention recently is Omega Accounting’s Employee Retention Credit (ERC) services, which helps business owners claim this lucrative tax credit retroactively as a refund from the IRS.

Omega Funding Solutions (the offshoot of Omega Accounting that handles ERC) is one of the best ERC companies out there. But ERC isn’t all that Omega Accounting Solutions offers.

The company specializes in personalized solutions to fit the unique needs of each client, whether it’s implementing a new software package or doing a year-end review with an experienced CFO.

Omega Accounting Solutions Services

Omega Accounting Solutions offers a variety of accounting solutions to business owners. Omega is an ERC specialist that can help eligible businesses claim the ERC refund on taxes. Omega also offers ERC bridge loans to its clients, a unique service that you won’t find with most ERC companies.

Additionally, Omega can help business owners claim the Research & Development (R&D) tax credit. Omega can also help cannabis retailers in California claim the new High-Road Cannabis Tax Credit. Omega also offers several other useful business and financial services.

Here’s everything that Omega Accounting Solutions provides to its clients:

• ERC Tax Credit Refunds
• ERC Compliance Reviews
• Recovery Startup Tax Credits
• ERC Advance Loans
• R&D Tax Credit
• Cost Segregation for Real Estate
• High-Road Cannabis Tax Credit (HRCTC)
• Fractional Accounting Services
• Bookkeeping Services
• Controller Services
• Fractional CFO Services
• Business Intelligence Services
• Analytics & Reporting

Omega Accounting Solutions Fees

Omega Accounting does not disclose its fees, nor does it explain when fees are paid (for example, whether or not fees can be paid upfront at a discount or paid when you receive your refund). However, you can contact Omega Accounting through its online form to receive a call back to determine if you qualify and how much the services will be if you move forward.

Unfortunately, this lack of transparency negatively affected how we rated Omega’s pricing.

Omega Accounting Solutions Features

Omega Accounting offers a load of benefits and features you won’t find with its competitors. There is no feature overlooked at Omega, whether it’s an ERC advance or additional tax services, which is why we gave it a perfect rating for features. Standout features of working with Omega Accounting Solutions include:

• Free ERC Analysis: Fill out Omega’s short online form and receive a callback. In about 10 minutes, the experts at Omega can tell you if your business qualifies for the ERC refund.
• ERC Advances: One of the most unique things about Omega Accounting is its ERC Advances. Eligible businesses with pending ERC claims can receive a 12-month loan of up to 65% LTV of the ERC refund amount. Loans can be funded in as little as 30 days after applying.
• ERC Calculator: Omega Accounting has an online ERC calculator to help you estimate the amount of your refund.
• ERC Compliance Reviews: If you used another company to claim the ERC or you did the work yourself, Omega offers compliance reviews that identify potential risks and will also recommend corrective actions.
• Secure Online Portal: Documentation to support your ERC claim can be quickly and easily uploaded through Omega Accounting’s secure online portal.
• R&D Tax Credits: If your business engages in qualified research and development, you may qualify for the R&D tax credit. Unfortunately, the requirements and process of receiving the credit are quite complex, but the professionals at Omega can help you determine if your business qualifies and help you through the process of claiming your tax credit.
• HRCTC: Licensed dispensaries in California may be able to take advantage of the High-Road Cannabis Tax Credit. The HRCTC provides a credit of up to 25% of qualified employee costs, including wages and benefits. Omega can help simplify the process of claiming this new tax credit.
• Cost Segregation Studies: Cost segregation is a tax strategy used to frontload depreciation on commercial and investment properties. Omega offers initial consultations with its in-house experts, followed by a comprehensive cost seg study that can be used to reduce income tax liability.
• Business Services: From software installation and implementation to bookkeeping services, Omega offers a variety of financial and business services.
• Referral Program: Omega offers an ERC Referral Partner Program. Businesses can be compensated for referring their clients to Omega Accounting to claim their ERC refunds.

Omega Accounting Solutions ERC Refund Process

A quick application process, fast claim processing, and the availability of ERC advances contributed to high marks for Omega’s ERC refund process.

Omega Accounting Solutions has a very easy ERC refund process. You can start the process by completing a short online form. Omega Accounting will then call you and help determine if you are eligible for an ERC refund. This process takes approximately 10 minutes.

After initially determining your eligibility, you will be invited to upload your documentation through Omega’s secure portal. At this time, Omega will be able to calculate the amount of your ERC.

If you choose to move forward, Omega Accounting will prepare and audit Form 941-X to file your amended return for your refund. Once your return has been submitted to the IRS, the final step is to wait for your check.

The process of completing and filing your forms is pretty quick and painless. However, it is worth noting that due to the backlog of claims at the IRS, receiving your check will take a minimum of 20 weeks. In the meantime, Omega Accounting does offer ERC Advances to help you get the capital you need while you wait on your ERC refund through Omega Funding. (Learn more about ERC loans to see if one might be right for you.)

Omega Accounting Solutions Customer Service

Omega scores high marks for customer service because it’s easy to get in touch with the company, and once you do, customer service is top-notch. Omega Accounting offers several ways for customers to get in touch, including a live chat option on its website, email, or social media profiles on Facebook, Instagram, Twitter, and LinkedIn. Omega Accounting Solutions also has a dedicated phone number for Merchant Maverick readers to reach out for questions: (949) 577-7357.

Current and past clients of Omega have overall positive things to say about the quality of customer service. According to these customers, the Omega Accounting team is responsive, knowledgeable, polite, and professional.

Omega Accounting Solutions Reviews

Omega Accounting Solutions has a good reputation among current and past clients. The company has a rating of 4.47/5 stars on the Better Business Bureau, though the company is not BBB accredited. Omega Accounting also is rated 4.3/5 on Google Reviews. These solid reviews earned Omega a near-perfect rating in this category.

Omega Accounting Solutions Complaints

The majority of Omega’s reviews are positive, but there are a handful of complaints. Some of the most common complaints include:

• Slow processing of ERC
• Expensive fees

It’s worth noting that the complaints about slower processing times are likely due to the IRS pause on ERC processing, which is outside Omega Accounting’s control.

Positive Omega Accounting Solutions Reviews

Omega Accounting has multiple positive reviews. What most stood out for customers working with Omega is:

• Professional and friendly staff
• Responsiveness
• Straightforward ERC claim process
• High level of expertise in tax and finance

Is Omega Accounting Worth It?

Omega Accounting Solutions is a great option for businesses that want to maximize their ERC refunds. What really stands out about Omega is its ERC bridge loan program. While some businesses have to wait at least 20 weeks — and others will wait a year or longer! — Omega’s ERC Advances give businesses access to the capital they need in as little as 30 days.

In addition, Omega can help businesses determine their eligibility for the R&D tax credit and navigate the complex process that comes with claiming the credit. Omega also helps licensed dispensaries in California navigate the new High-Road Cannabis Tax Credit, and performs cost segregation studies for taxpayers who own commercial or investment properties.

If you need additional services, Omega has you covered in that area, too, offering a wide assortment of business and financial services.

One potential drawback is that Omega doesn’t disclose its pricing upfront, so you’ll have to sign up for a free analysis to learn more about the fees associated with ERC claims or contact the company by phone or email to learn about its other services.

However, Omega’s range of services, excellent customer support, and overall positive public reputation make it a top contender among other ERC funding companies and put it on our list of the best ERC companies.

ERC Company Review Methodology

We spend hours researching and evaluating each ERC company that we review at Merchant Maverick, placing special emphasis on key characteristics to generate our service provider ratings.

When rating ERC companies, we use a 22-point rubric that looks at fees, features, refund process and timeline, customer service, and user reviews. We weigh each section differently to calculate the total star rating.

• Fees: 20% of the total star rating
• Features: 30% of the total star rating
• Refund Process & Timeline: 35% of the total star rating
• Customer Service: 5% of the total star rating
• User Reviews: 10% of the total star rating

Each section is further broken down into granular, weighted subsections, in which we look at specific attributes, like whether reduced fees are available for upfront payments, the availability of ERC loans and advances, audit protection, and no-cost ERC consultations.

Learn more about how we rate ERC providers.