SCOTTSDALE, AZ – February 20, 2024 – Openforce, the leading software platform for managing commercial relationships between contracting companies and their 1099 independent contractor workforces, proudly announces a significant milestone in recovering millions in tax rebates for independent contractors through the Self-Employed Tax Credit (SETC). This achievement underscores Openforce's commitment to empowering the success of independent business owners as they navigate the complex landscape of tax benefits and financial well-being.
The SETC is a specialized, non-repayable tax credit designed to support self-employed individuals during the COVID-19 pandemic. It acknowledges the unique challenges faced by those who work for themselves, especially during times of illness, caregiving responsibilities, quarantine, and related circumstances. Whether a self-employed business owner, a 1099 subcontractor, or a family-centric small business, the SETC can be a valuable resource to help bridge financial gaps caused by unforeseen disruptions.
Understanding the unique circumstances that self-employed individuals face, Openforce partnered with Gig Worker Solutions, a Tech Professional Employer Organization (PEO) catering to gig workers, to ensure independent contractors can take advantage of this valuable opportunity. Their innovative solution simplifies the SETC process for contractors, ensuring they can navigate tax support effortlessly and maximize their tax credits.
Gig Worker Solutions, as a valued partner has played an instrumental role in enhancing the financial well-being of gig workers. Wendy Greenland, CEO of Openforce, highlighted, "Openforce remains steadfast in our commitment to empowering independent contractors. The achievement of millions in tax rebates is a successful result of our innovative approach. We aim to simplify the process for contractors, allowing them to focus on their core businesses. Gig Worker Solutions has been a valuable partner, providing user-friendly tools to help facilitate this mission."
Ryan Leggett, CEO of Gig Worker Solutions, added, "We are thrilled to play a key role in the success of independent contractors in the gig economy through our collaboration with Openforce. Our partnership aims to enhance the economic well-being of contractors, showcasing the positive impact of strategic collaborations in the ever-evolving landscape of the gig economy."
Amidst the pandemic, millions grappled with COVID-related challenges, including illness, symptoms, quarantine, and caregiving responsibilities. If you were self-employed in 2020 and 2021 and COVID-19 impacted your ability to work, the SETC was designed to be your safety net.
Visit the Gig Worker Solutions website to learn more or calculate your tax credit for free. Go to www.oforce.com to learn more about Openforce’s robust solutions for contracting companies and 1099 independent contractors.
About Openforce
Openforce® is the leading software technology platform to reduce operating costs and mitigate compliance risk for companies using independent contractor workforces. Openforce frees contracting companies from the burden of onboarding, contracting, and settlement processing while helping independent contractors build their businesses. Our cloud-based applications enable companies to achieve more sustainable, profitable growth by removing financial, operational, and compliance barriers to getting business done. Openforce is a portfolio company of Boston-based private equity firm Riverside Partners. Learn more at www.oforce.com.
About Gig Worker Solutions
Gig Worker Solutions is a Tech Professional Employer Organization (PEO) that focuses on addressing the unique needs of gig economy workers. The company's mission is to bridge the gap that gig workers in the delivery and transportation industries often encounter when trying to access essential group benefits traditionally reserved for W-2 employees. Learn more at www.gigworkersolutions.com.