Money Talks....

Thank you for joining us on this issue of Money Talks…. Today we are talking to business owners about the ERC, Employee Retention Tax Credit.  I’m sure you are familiar with the PPP, Paycheck Protection Program and EIDL, Economic Injury Disaster Loan that were given out due to the pandemic.  Both were loans.  The PPP was a forgivable loan the EIDL you start paying back in March/April, 2022.  The ERC, Employee Retention Tax Credit, is not a loan nor a grant.  This is part of the Cares Act of 2022.  If you tried for the ERC before and were turned down, the Cares Act of 2020 was amended.  It’s a Business Stimulus!  Small businesses with 4-499 W-2 employees only qualify and it is up to $26,000 per employee as a tax credit!!

Does my business qualify?  Your business experienced a partial or complete suspension of operations.  This includes: social distancing requirements that reduced capacity, reduction of hours of operation, distribution delays or suspensions, supply chain disruptions and/or suspended onsite work or client meetings.

Your business experienced a significant reduction in revenue during any quarter of 2020 or 2021 as compared to 2019.  This is a designated team of specialist that are working on this IRS tax credit.  Many are IRS agents.  You can contact us to see if you qualify or you can use the following link:

http://ercspecialist.com/?af_id4GCx5F2OEQfybSRuePU8

Don’t delay as when the funds run out for this program that will be it.