Help The Business
Don't Leave Money On The Table
HOW TO GAIN ACCESS TO YOUR
ERC (EMPLOYEE RETENTION CREDIT) MONEY
ERC is a stimulus program designed to help businesses that were able to retain their employees during the Covid-19 pandemic.
ERC is based on qualified wages and healthcare paid to employees.
GOVERNMENT FUNDS AVAILABLE
Established by the CARES Act, it is a refundable tax credit - a grant, not a loan - that your business can claim.
MULTIPLE YEARS AVAILABLE
Available for 2020 & 2021.
MANY WAYS TO
QUALIFY
Qualify with decreased revenue OR partial/full shutdown of business operations.
FORBES
Forbes Quoted that “The IRS anticipated that approximately 70-80% of small and medium businesses (as well as charities) were good candidates for the Employee Retention Tax Credit. But the actual numbers of those applying is far below that and they are leaving billions of dollars on the table...”
The ERC Refund is NOT a loan, and there are NO restrictions on what the funds can be used for!
Here are a few ideas on how ERC funds can be utilized:
INVEST IN NEW EQUIPMENT
Consider using your ERC money towards new equipment for your business. These capital expenditures can set you up for an even more profitable future.
HIRE NEW EMPLOYEES
Expand your team and grow your operations with the right people. The ERC money can be used towards growing the talent on your team.
USE ON OPERATING EXPENSES
Whether you are building a more robust benefits program or launch a new product, this capital is available for you and your team.
TIME IS OF THE ESSENCE
ERC Refunds are only available for a limited time, and the IRS backlog is getting worse. It is important that you start the qualifying process ASAP
THERE ARE TWO WAYS TO QUALIFY
YOU AUTO QUALIFY: WAS YOUR BUSINESS AFFECTED BY ANY MANDATED FULL OR PARTIAL SUSPENSION OF BUSINESS?
YOU MAY QUALIFY: WAS YOUR BUSINESS' GROSS RECEIPTS DOWN 50% COMPARED TO THE SAME QUARTER OF 2019?
Top Myths About The ERC
A business that has already received Paycheck Protection Program (PPP) Loans or had its PPP Loans forgiven, cannot claim ERC.
A business did not shut down during the pandemic, so it is not eligible for ERC.
A business did not have a drop in grow receipts of 50% or more and is therefore not eligible.
A business was deemed essential, so it does not qualify.
A business must have fewer than 500 employees in order to be eligible for ERC.
A business had increased sales during the pandemic, so the business is not eligible for ERC.A not-for-profit cannot claim ERC.
The Employment Retention Credit Ended. It's too late to take advantage.
Don't want all the headaches of trying to
figure out the ERC on your own?
WHAT TO LOOK FOR IN AN ERC PROVIDER
Make sure they are real CPA's
Make sure they do the filing for you
Make sure they write a qualitative memo
Make sure they can maximize your return (PPP utilization)
Make sure they provide audit protection
Help The Business
All information shared should be considered the sole thoughts and opinions of the author(s). This content is for educational purposes and is not personalized financial, tax, investment or legal advice. This website is not affiliated with the Internal Revenue Service or any governmental organization.