So What is the ERC?
The ERC (Employee Retention Credit) is a program run by the IRS to assist small business owners that kept their employees working during the recent pandemic. It is time sensitive so don’t wait to follow this link and see if you qualify. You can get an estimate of how much money you qualify for in just 3-5 minutes. All you have to do is go to this site and fill in the field. Then, when you have this information, we have a team standing by that will take the required information and do the application process for you. The process is secure, so you don’t have to worry about your business information getting out.
The Employee Retention Credit, (ERC) is a program created by the IRS to assist business owners that were able to stay open and keep full time employees working. This credit is a way to give the small business owner some much needed capital to continue to pay wages and pay bills so they could continue to operate and serve the community. It is not a loan, and you never need worry about having to pay it back.
Who Is Elegible?
Most small and medium business owners are eligible for this credit. And Small or medium Nonprofits can apply too. The estimate right now is that 80% of small and medium businesses and nonprofits are eligible, and only about 16% have applied.
And quite a few of those businesses that have applied qualified for and received this credit. So Why Wait? Follow this link to see if Your Business qualifies NOW!
So How Much Can You Get?
Each full time employee is worth up to $26,000. And we have a simple form to fill out to start with so that you will have an idea of how much of a credit you can get. After you fill out your form, there is a team of specialists ready and eager to help you receive what you are eligible for. You will only need a few documents to begin the process. They will do the application for you, and there is no upfront fee. When you get an award from this credit, then they will invoice you for a modest 15% commission when the IRS approves your credit.
Many business owners believe that they are not eligible for this credit. This is because when the IRS rolled out this program, the rules were too complicated for most payroll departments and CPAs. They believed that the business in question was not eligible. However, over 80% of small and medium businesses qualify. And only about 16% of qualifying businesses have taken advantage of this program.
We do not need any sensitive information to start. The documents they need are a 941 form for each qualifying quarter of each year, 2020 and 2021, and a payroll report on your employees. This must include the employee’s name, gross wages, and the pay date of those wages. The qualifying quarters are from Q2 2020 to Q3 2021.
What You Need To Do
As stated above, all you need to do is fill out a simple form. To start with, you will need to enter your Company name, Your full name, email, and telephone number. Then the form will ask you what your average full time employee count was for each year, 2020 and 2021. With this information, you will almost immediately see a potential ERC amount in dollars.
Then you just have to fill out a questionnaire that requires:
- The average number of full time employees for 2019
- Gross receipts for each quarter of 2019, 2020, and 2021
- Information on how the government shutdowns affected your business
There are three ways that you may be eligible for this tax credit:
- Full or partial shut-down
- Supply Chain Issues
- Revenue reduction.
Then you will be asked if you paid W-2 wages in 2020 or 2021. State who the majority owners are. Then you will declare if you are a federal, state, or local entity. This is because government and governmental agencies are not eligible for this credit.
The next question is about when you started your business. It will ask if your business was started before, or on or after February 16, 2020. With that answered, you will come to a question about how many employees are in your business.
As you continue, you will be answering questions about what the impact was to your business during the epidemic. After answering these questions, you will be notified if you qualify for this awesome credit. Most do, and when confirmed that you may be eligible for this credit, all you have to do is confirm your information. Click submit, and you have finished! Leave the rest in the capable hands of our team of specialists. If there is need for more information, they will contact you. Otherwise, just sit back and relax. However, there is a limited time to get into this program. When filing for the year 2020, you only have until April 15, 2024. And the expiration date for amendments for the year 2021 is April 15, 2025.
In Conclusion
This refundable tax credit is something that small business owners need to get back on a good business footing. It is there to help with the expenses incurred while keeping your business afloat and active with employees during a very hard time for businesses. Take advantage of it today. Our Team is Eagerly standing by to help you take advantage of this Incredible Program. So Take advantage of it, and see if you qualify TODAY!
And the greatest thing about this is that it is not a loan. There will be no payments back to the government. It is a refundable tax credit, so the money you get back is free and clear. You determine how or where to spend this money. So you can spend it where you need it most to get your world back to pre-pandemic normalcy. This is a great thing that every Small or Medium Business Owner NEEDS.
Response Magic