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3. What is the Employee Retention Credit and how does it work?
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9. Putting it simply, the Employee Retention Credit (ERC) is exactly what it sounds like--business owners are being rewarded for their efforts to keep employees on payroll during the pandemic. We are working closely with decision-makers in Washington on this nationwide effort to help the U.S. economy not only recover from the pandemic but come back stronger than before.
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11. 5 Things to Know about the ERC
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13. We're going to help you cut through all the noise. This is important:
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16. Not every business qualifies for ERC
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18. You likely can't claim $26k for every employee
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20. Not every COVID impact qualifies a business
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22. Not every government guideline qualifies a business
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24. Claiming PPP affects how much ERC can be claimed
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27. How to Qualify
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29. Even if you have already reviewed the ERC, we recommend that you take a second look with one our specialists. The program is still not living up to its potential. Many business owners are disqualifying themselves prematurely due to misinformation about who qualifies and who doesn't.
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32. The overarching theme for businesses to focus on is how the coronavirus pandemic impacted our economy as a whole... so even if your business grew or was deemed an essential business during the pandemic, there are more qualifying factors to look at before you disqualify yourself.
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35. The payroll tax credit is available to all essential and non-essential companies in any industry that has suffered the effects of the pandemic. Many business owners have had to adjust to the fact that there were many government orders at all levels, including those from the federal, state and local governments. Examples of affected businesses include a restaurant that could not let customers dine indoors or a manufacturer that had to slow their operations due to new health and safety restrictions.
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38. These are some factors to consider when determining whether your business is eligible for the ERC.
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41. Full shutdowns;
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43. Partial shut downs
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45. Operation interruptions
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47. Supply chain interruptions;
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49. Inability to access equipment;
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51. Capacity to operate is limited
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53. Inability to work with your vendors;
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55. Reduced services or goods provided to customers
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57. Cut down on your hours of operation; and
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59. Shifting hours can improve sanitation in your facility
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62. To get more information about is erc taxable visit this site
63. Homepage: http://ErcGrantCheck.com