Had PPP OR EIDL? Meet the ERC program!

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Program Highlights:

?$5,000 (50% of first 10k in compensation) in payroll tax credits, per employee for 2020

?$28,000 (70% of first 10k in compensation PER QUARTER) in payroll tax credits per employee for 2021Maximum 2020 + 2021 Tax Credits 33,000 per employee.

?Qualifications:

?Must have or had 3 or more W2 Employees

Must answer Yes to ONE of the following:

1. My Business was shutdown

2. My Business was partially Shutdown

3. My Business lost 50% or greater in revenue in any quarter of 2020 compared to the same quarter of 2019

4. My Business lost 20% or greater in revenue in any quarter of 2021 compared to the same quarter of 2019

?If you answered?Yes?to any of the above questions your client should qualify.??

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What is the Employee Retention Credit?

The ERC is a refundable credit that businesses may claim on qualified wages.

The credit is a federal cash award available to all small businesses in the US affected by the lockdown. Receive $5000 for each employee in 2020 if you’ve had a 50% decrease in gross receipts in comparison to 2019.?

Receive $7,000 per employee for the first 3 quarters that qualifies in 2021 If you’ve had a 20% decrease in gross receipts.

The second way to qualify:

Most businesses think that if they haven’t had a decrease in receipts, they don’t qualify. The truth is this isn't the only way to qualify.

The second way is:

Did your employees have to socially distance at work?

Did your customers have to socially distance in your business (e.g. tables separated 6 ft at restaurant)

Were your business hours limited in some fashion?

Cleaning periodically

Opening/Closing time

Limited hours to sell alcohol after a certain time

Restricted from working in the facility?

Were operations temporarily shut down?

Were employees restricted from going to work?

Were employees subject to a curfew that affected hours worked?

Was your business to shut down for periodic cleaning and disinfecting?

Did your venders create a supply chain disruption?(even if the employer was an essential business exempt from government orders)

Did your service providers have disruption that created a supply chain disruption?

Was there any limitation placed on working hours??(even if the employer was an essential business)

Were there any government orders that affected the business in a way that it could not operate in a comparable manner?

Was there any unbundled part of the business in a way that the business part could not operate in a comparable manner?

Was there restricted access to the physical workplace?

Was there reduced working hours because of pandemic-related operating limitations?

Were any imposed limitations on the use of physical space, affecting services?

Were any imposed limitations on size of gatherings, affecting the business operations?

(e.g. number of customers physically in the business)

Were your employees denied access to the use of physical workspace space or physical assets?

Were your employees required to work remotely causing some limitations in ability to perform comparable duties?

Does Any of these apply to your business? We have helped 100's of businesses this year and have gotten millions back for our clients.?

Would you be Opposed to a 15 minute call with our experts??

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