Resources for Your Business
Take Advantage of the ERC Grant for Your Business
If your business was established prior to 2020 and endured the COVID-19 Pandemic, you may be eligible to claim the Employee Retention Tax Credit (ERTC), also commonly referred to as the ERC Credit. Even if you were awarded PPP Loans or were deemed ineligible for the ERC Credit in the past, you should find out if your business is qualified for this business stimulus initiative now. The rules have changed!
This is a grant, not a loan. You don’t have to pay it back. And you can qualify for it even if you received PPP loans during the Pandemic. The ERC grant is not something that later needs to be “forgiven”. If you’re eligible, the money is YOURS while the program lasts. And it’s not “a little” money. It’s up to $26,000 per W-2 employee. If you’re entitled to it and you fail to claim it, you’re leaving money on the table. And THAT’S not “smart business”. So check it out!
What’s the catch? There isn’t one! You’re either eligible or you’re not. The new rules for the program allow more opportunities to qualify. It used to be that your business had to suffer a revenue loss during the Pandemic. Now eligibility has expanded to include such events as shutdowns, slowdowns, operational changes due to government restrictions, supply chain shortages, and more. So even if you weren’t eligible under the “old rules”, your business may very well be qualified for the ERC Credit now. Find out!
Here’s a caution, though. Many accounting firms and CPAs are unfamiliar with the ins and outs of processing the paperwork for the ERC Credit. Why? Because it’s not income tax oriented. It’s payroll tax oriented. And it’s complex. It not only deals with federal payroll taxes; it’s subject to executive orders at the state level as well. So it’s somewhat of a “specialty” to be well-versed and equipped to file for the ERC. That’s why many CPAs farm out the process to companies that specialize in handling and processing the ERC paperwork.
In our mission to provide financial tools and resources to entrepreneurs, we have partnered with a firm that specializes in processing the ERC Credit submissions for businesses. We did our due diligence to ensure that their fees are fair, their reputation is solid, and they are the go-to company that many CPAs and accounting firms turn to for ERC candidates.
This is a project that you want 1) handled professionally for you, and 2) done right. Our partner handles the entire process from start to finish, prepares your paperwork via industry experts, quality checks your documents via a rigorous internal review, and delivers audit-ready final reports to claim and support the Employee Retention Credit.
- Receive Up to $26,000 per employee. Employees must be on a W-2 basis. (i.e., not 1099-MISC or 1099-NEC subcontractors).
- Available for 2020 and the first 3 quarters of 2021
- Qualify with decreased revenue or COVID event
- No limit on funding
- A government authority required partial or full shutdown of your business during 2020 or 2021. This includes your operations being limited by commerce, inability to travel or restrictions of group meetings.
- Gross receipt reduction criteria is different for 2020 and 2021, but is measured against the current quarter as compared to 2019 pre-COVID amounts.
- A business can be eligible for one quarter and not another.
- Initially, under the CARES Act of 2020, businesses were not able to qualify for the ERC if they had already received a Paycheck Protection Program (PPP) loan. With new legislation in 2021, employers are now eligible for both programs. The ERC, though, cannot apply to the same wages as the ones for PPP.
Learn more and ensure you aren’t missing out on this limited-time tax credit. Submit our “ERC Consultation” form on this page to find out what you qualify to receive.
This is a time-limited program. Don’t miss out!
The Prosperity Solutions Group®
A Division of Top Tier Business Systems, LLC®
P.O. Box 112
Millerstown, PA 17062
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