EMPLOYEE RETENTION CREDIT (ERC)
Did your small business keep employees on your payroll through the pandemic?
Congratulations! You may be eligible for a tax credit from the Internal Revenue Service, too.
The Employee Retention Credit, or ERC, was first launched in the early days of the COVID-19 pandemic as part of the CARES Act relief package. It was intended as an extra incentive for smaller businesses to retain their employees, although it was widely overshadowed by the Payment Protection Program.
However, the ERC is still available retroactively for both 2020 and 2021. Importantly, small businesses that received PPP loans are eligible to take the ERC, too.
ERC is a credit, i.e., free money off your tax bill. Remember that unlike a deductible, which decreases a business’ taxable income, a credit reduces the amount of total tax owed to the IRS.
Companies Do Not Have To Prove Loss of Revenue. The Following Operational Impacts Qualify As Well:
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Shutdowns of supply chains/vendors
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Additional spacing in accordance with social distance regulations
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Reduction in services
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Changes in business hours
Our 3 Step Process:
1. Apply
Fill out our Quick Apply application.
2. We review your application
We will review your goals and setup a phone appointment within 24 hours. After the call, we will gather documents to move forward with ERC Claim.
3. Receive funding
Choose the program that fits you best and receive funding within 3-6 months.