San Francisco’s sanctuary wealth managers say they’re finding ways to make a living from helping undocumented immigrants pay their way through immigration enforcement.
A new company called Tax-Tune Solutions is using an automated tax-filing system that uses tax data to help companies better understand the risks and benefits of hiring undocumented immigrants.
“It’s the best way to get an idea of how much tax they are going to have to pay to make it to the U.S.,” said Michael Smith, founder of Tax-tune Solutions.
“They know exactly what they’re paying for, so they can make a better decision,” Smith said.
The company says it helps companies identify risks and opportunities to hire undocumented immigrants, including the potential for them to get caught up in border security efforts.
“The companies that are using this tool are the ones that have the most business opportunities in the U.” said Smith.
“They are those that are most likely to be targeted by immigration enforcement.”
Smith said he’s seen businesses take advantage of the system to hire an additional worker.
“You know if you are a restaurant and you have 10 people, you might be able to do a couple of more, to hire 10 more,” he said.
Tax-tunesolutions.com provides the tool to companies that want to hire immigrants.
The tool helps companies figure out the potential tax liability of hiring an undocumented immigrant.
The U.K.-based company’s software helps them understand the costs and benefits that are associated with hiring undocumented workers, and then helps companies understand what that means in terms of taxes, wages and other revenue streams.
It also helps companies determine whether or not they should hire an undocumented worker.
The software analyzes information from government reports and from the U:Tax website, and offers the company a way to calculate the amount of money they will be required to pay.
“Our tax system is complicated and it’s a really good thing to know how much money we are required to get paid to make sure that we are paying the right amount,” said Smith, adding that they’re also providing the tool for other companies.
Smith said the company also gives tax advice to companies about how to make good business decisions.
“If you’re in the business of helping people, I think it’s pretty important to know what the right investment is,” he explained.
Smith added that the company is now expanding its service to other jurisdictions, and plans to expand the program in the future.