The Employee Retention Credit (ERC) is a robust stimulus program created by the CARES Act. This program offers employers a significant tax refund for retaining employees during the pandemic.
If you were able to maintain at least 1 (and up to 500) full time (30+ hours) W-2 employee during Covid, and you haven’t already applied for your ERC (Employee Retention Credit) credit, you have a really good chance of qualifying!
It’s a super quick, 15-minute process to find out– with an immediate estimate of how much– and there is no upfront charge.
Many businesses mistakenly believe they will not qualify if revenue increased during 2020-2021, which is false.
There are actually TWO different ways to qualify for this tax credit, including revenue reduction OR a full or partial shutdown of your business due to COVID-19 (including disruptions to commerce, travel, or group meetings, supply chain disruptions, reduced hours, reduced capacity, reduction in goods or services offered, etc).
Many businesses mistakenly believe they will not qualify if they received a PPP loan, which is also false. (This law was amended March-April 2021)
Here are some examples of companies that I’ve recently helped apply for the ERC:
Non-profit $100,000
Landscaping Company–$225,000
Non-Profit– $82,000
Home Supply– $1,000,000
Non-profit– $280,000
Non-profit– $60,000
Restaurant– $188,000
Hair Salon– $133,000
Boutique– $60,000
Non-Profit–$291,000
Retail Pet– $120,000
Publishing Company– $556,000
Non-profit–$26,000
Construction– $33,000
