0 likes | 24 Views
Consult with Tax Professionals: Navigating the complexities of tax credits can be challenging. Therefore, it is advisable to consult with tax professionals who specialize in ERC to ensure businesses fully understand the eligibility requirements, claim procedures, and documentation needed. Tax professionals can help identify all eligible quarters, calculate the credit accurately, and provide guidance on optimizing the benefits.<br><br>
E N D
Business Growth We help you fully document your eligibility and calculate your maximum ERC.
Sustainability With the right plan in place, your business sustainability will never be an issue with us. Performance Put your mind at ease. Our quick & easy process helps filing claims in as little as 1-2 weeks. What Is Employee Retention Credit? The Employee Retention Credit (ERC) is a tax credit provided by the U.S. government to support businesses during challenging times, such as the COVID- 19 pandemic. It was introduced as part of the CARES Act in 2020 and has since been expanded and extended to help businesses retain their employees.
The Employee Retention Credit COVID-19 has proven to be a huge hit for all of us. As the world was shut down, the economy came to a halt, leaving the future of many businesses in an insecure position. As we begin to find normalcy again, small businesses now must focus on recovering and fortunately, several government programs are easing this process. IRS ERC Help is a company which specializes in The Employee Retention Credit or ERC, a program designed to boost those businesses that were able to retain their employees during this challenging time. Due to the complex tax code and qualifications, it is sternly underutilized. Details of the program include: UP TO $26,000 PER EMPLOYEE AVAILABLE FOR 2020 & Q1 - Q3 2021 QUALIFY WITH DECREASED REVENUE OR COVID EVENT NO LIMIT ON FUNDING (ERC IS NOT A LOAN) ERC IS A REFUNDABLE TAX CREDIT SEE THE IRS TAX CODE
The Numbers Speak The Truth 0 BUSINESSES REACHED $0 CREDITS RECOVERED 0 EMPLOYEES QUALIFIED Maximizing the benefits of the employee retention credit 1. Understand Eligibility Criteria: To maximize the bene몭ts of the Employee Retention Credit, businesses need to familiarize themselves with the eligibility criteria. Initially, the ERC was primarily available to businesses that experienced signi몭cant revenue decline or were subject to full or partial shutdown orders. However, with recent updates, even businesses that did not suffer revenue losses may qualify for the credit. 2. Consult with Tax Professionals: Navigating the complexities of tax credits can be challenging. Therefore, it is advisable to consult with tax professionals who specialize in ERC to ensure businesses fully understand the eligibility requirements, claim procedures, and documentation needed. Tax professionals can help identify all eligible quarters, calculate the credit accurately, and provide guidance on optimizing the bene몭ts. 3. Document and Retain Records: Proper documentation is crucial when claiming the Employee Retention Credit. It is essential to maintain accurate records, including payroll reports, revenue statements, and documentation related to government orders or shutdowns. By organizing and retaining these records, businesses can demonstrate their eligibility and support their claims if the IRS conducts an audit. 4. Stay Updated on Changes: The ERC has undergone several changes and updates since its inception. It is important for businesses to stay informed about any modi몭cations, expansions, or deadlines related to the credit. Regularly check o몭cial IRS sources, consult with tax professionals, or join relevant industry forums to stay updated on the latest
developments. How is $26,000 per employee calculated ? Here’s how the $26,000 per employee is calculated: 1. In the tax year 2020, the ERTC is based on a cap of $10,000 in wages paid per employee. Eligible businesses can claim 50% of this amount, resulting in a maximum credit of $5,000 per employee for the entire year. 2. In each quarter of 2021, the cap remains at $10,000 in wages per employee, but the credit percentage increases to 70% per quarter. This means eligible employers can claim up to $7,000 per employee per quarter in 2021. Why Consult with IRS ERC Help?
ERC Qualifications While the ERC program’s general standards appear straightforward, the interpretation of each quali몭cation is quite di몭cult. Because of our extensive experience, we can ensure that we make the most of any quali몭cations that may be accessible to your organization. FULL OR PARTIAL SUSPENSION OF BUSINESS OPERATIONS A government agency mandated a partial or complete shutdown of your business in 2020 or 2021. This includes your operations being hampered by commerce, inability to travel, or group meeting restrictions. GROSS RECEIPTS REDUCTION The gross receipt reduction criteria for 2020 and 2021 are different, but they are measured against the current quarter as opposed to 2019 pre-COVID amounts. VIEW OUR ERC SUMMARY TABLE What our clients are saying
Scott Moore I highly recommend it. When I learned about the ERC program, I contacted my CPA. He called 30 minutes later to tell me I didn’t qualify. I had ERC Specialists check to see if I quali몭ed out of curiosity. I discovered that I had received the ERC for 7 of my 9 employees.
Deven Rasmussen The procedure was extremely simple and painless. ERC Specialists was extremely professional and detailed. They also advised me on how to improve my chances of receiving additional funds in the future. I had an excellent experience with them and would recommend them to any business owner. Ready to Get Started? Contact Us IRS ERC HELP is a Law firm dedicated solely to understanding and maximizing the CARES Act Employee
IRS ERC HELP is a Law firm dedicated solely to understanding and maximizing the CARES Act Employee Retention Credit (ERC) for small businesses negatively impacted by COVID 19. Contact Details 320 Post Ave, Suite108 Westbury, NY 11590 (516) 500-5000 contact@irserchelp.com Follow Us IRS ERC HELP, INC DOES NOT provide any legal or accounting advice and users of this web site should consult with their own lawyer and C.P.A. for legal and accounting advice. Copyright © 2023 IRS ERC Help.