The COVID-19 pandemic caused a lot of financial strain, especially on small businesses that were trying everything to stay afloat.
In response, the federal government launched programs to help businesses keep their doors open and pay their employee staff, such as the Paycheck Protection Program (PPP) and Employee Retention Credit (ERC).
The ERC is a fully refundable tax credit of up to 50% of qualified wages an employer pays their employees. Although it is a tax refund, businesses that qualify for ERC will receive a refund check from the IRS. You should note that ERC tax credits are not a loan; therefore, you don't have to pay back the amount received in your refund.
The ERC tax credits allow businesses to receive up to 70% of the first $10,000 in wages per employee, per quarter. That equals up to $26,000 yearly per employee.
Apply with us to see if you are eligible. It costs you nothing to find out, and we make your ERC claim process fast, simple, and seamless.
Employers who are eligible to claim the ERC are:
Private-sector businesses OR Tax-exempt organizations
Carried out trade during the calendar year 2020
Had operations that were fully or partially suspended during any quarter of 2020 due to orders from an appropriate governmental authority that limited commerce, travel, or other group meetings due to COVID-19, OR
Experienced a significant decline in gross receipts during a calendar quarter in 2020
Qualified wages under the ERC are defined by the IRS as “wages” under section 3121(a) of the Internal Revenue Code, and compensation is defined as “clarified” under section 3231(e) of the Internal Revenue Code. The amount is determined without regard to the benefit base and contribution paid by the eligible employer to some or all employees after the date of March 12, 2020, and before the date of January 1, 2021. Wages that qualify include the eligible employer’s qualified health plan expenses that can be properly allocated to wages.
A variety of additional factors concerning your organization will be taken into account when your application is assessed, including whether or not the information provided supports the approval of your initial application. Advisors from our team have the accounting AND legal experience you need to maximize the outcome of your ERC application, while protecting your company from needless audits next year.
The ERC credit is equal to 50% of the qualified wages, which includes qualified healthcare expenses, that an eligible employer paid in an eligible calendar quarter.
You can receive a tax credit in the amount of up to $5,000 per employee per eligible calendar year. This can add up to tens of thousands of dollars in savings and it is not too late to claim these benefits.
While many financial services assisting businesses collect ERC or PPP benefits might have a complex answer to this, ours is not.
Our rate is a reasonable percentage of the benefits we achieve on your behalf. This means that the more we are able to collect for you, the better our compensation is as well, so you know that we will do our best to achieve the fullest possible benefits for you.
To keep things simple, billing for our services is direct, and any CPAs or tax attorneys that might also be necessary for your case will also bill directly. There are no worries of anyone standing in the middle and all professionals on your team are fully accountable for their performance, with reputations that we stand behind.
Fill out the form below, and we can instantly check to see if your business should be eligible for the ERC program.
If it is, we’ll supply next steps to facilitate and expedite your application.