With all the challenges we have faced due to COVID-19; the world basically shut down and the economy has taken quite a beating. Small businesses have faced possible shut-down. Now that we are starting to get back to “normal” businesses can begin to recover. Fortunately, there are several government programs that are there to help small businesses. Including ERC (Employee Retention Credit).
The ERC is a generous stimulus program that will help bolster businesses that have been able to retain employees during the pandemic. Details of the program include:
- UP TO $26,000 PER EMPLOYEE
- NO LIMIT ON FUNDING (ERC IS NOT A LOAN)
- AVAILABLE FOR 2020 & Q1 – Q3 2021
- ERC IS A REFUNDABLE TAX CREDIT
The ERC program will not last long, only $400 billion; total payout approved by Congress with the CARES Act. More and more businesses are becoming aware of this program and applying for the Credits. There is FREE money for Businesses that have kept employees and their business going during the pandemic.
Go Here and See if you Qualify
Then be set to move ahead, once you see how much you qualify with the best in the Country at completing this Government Process. Provide the necessary documentation, they put together everything, and follow thru with the IRS to see that you get all that is available for you.
Qualifications:
Generally the qualifications for the Employee Retention Credit Program can be simple the understanding of each qualification is very complex. Our significant experience allows us to ensure we maximize any qualifications that may be available to your company..
Partial or Full suspension of Business Operations: A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel, or restrictions of group meetings.
GROSS RECEIPTS REDUCTION
Gross receipt reduction criteria are different for 2020 and 2021 but are measured against the current quarter as compared to 2019 pre-COVID amounts.
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