What Could the ERC Do for YOUR Community?
11/30/2022
There is a lot of confusion around the Employee Retention Tax Credit. Many business owners do not know about this credit. Others know about the credit, but do not believe that they qualify when they actually do. Others still, think that, similar to the PPP loan, that this is something that would have to be paid back.
Imagine if every business owner in your community that qualifies for the Employee Retention Credit actually received this refund I'm up to $26,000 per employee. How would this help your community? These employers could potentially expand their businesses, hire new employees, provide raises for current employees, and do much more! There is so much that could be done to grow and improve communities the cash infusion that this refundable tax credit could provide. So, let's do our best to clear up the confusion around this credit and do everything we can to spread the word amongst other business owners.
What exactly is the Employee Retention Tax Credit(also known as the ERC or the ERTC for short), anyway? This is a refundable payroll tax credit. The government is offering this credit to employers who kept their W-2 employees on their payroll during the pandemic. This credit was established under the Act to help reduce layoffs and to help keep workers employed.
The ERC is a credit that can be refunded directly back to businesses that qualify. This is not a loan, it will never have to be paid back. This is also not just a credit to reduce your taxes owed. This is money that can actually be refunded back to you as a business owner.
There are many eligible business owners who do not realize they are eligible to receive the Employee Retention Tax Credit. Receiving the PPP loan in the past does not disqualify you from receiving the ERC tax credit. As a matter of fact, if you qualified for PPP, you may be more likely to qualify for the ERC credit as well. If your business improved during or after the pandemic, you still very well may qualify for the Employee Retention Credit. Make sure you work with a license CPA who has a firm understanding of ERC rules so that you can get the most out of this credit.
Although these credits were offered for the years 2020 and 2021, it is not too late to get qualified. Please do not miss out, not only can the ERC do great things for your business, it can do great things for your community! Even if you think you don't qualify or if you've been told you don't qualify in the past, rules have changed. You can find out for sure with our expert CPA partners. There is no retainer fee, so there is nothing to lose. You will only pay if and after you receive your credit. If you would like more information about getting qualified or if you would like to start the process now, click the button below. And remember to tell every business owner you know!